Yoon pledges $300 mn to Green Climate Fund at G20 summit

South Korean President Yoon Suk Yeol, left, is holding a Korea-India summit with Indian Prime Minister Narendra Modi in New Delhi, India, on Sep. 10 (local). [Photo by Yonhap]

South Korean President Yoon Suk Yeol assured global leaders of the nation’s commitment to global efforts to overcome the climate challenge as he unveiled an additional $300 million contribution to the Green Climate Fund.

“Korea will contribute an additional $300 million to the Green Climate Fund to assist developing nations in addressing climate change and reducing greenhouse gas emissions,” Yoon said during the first session of the 18th G20 Summit, which took place under the title “One Earth” on Saturday in New Delhi. “As natural disasters caused by climate change threaten people’s safety and freedom, we need strong solidarity and cooperation within the international community to deal with these challenges,” he added, promising that Korea will serve as a “green ladder” supporting vulnerable countries affected by climate change.

While expressing his confidence in Korea’s leading role in green technology and its experiences, Yoon stated that Korea will lead the transition to clean energy, particularly in nuclear power and hydrogen energy. “We are accelerating the development of small modular reactors (SMRs), the next-generation nuclear power plants,” he said.

The president’s remarks also included a nod to hydrogen energy. “As a country with the largest number of hydrogen vehicles on the road in the world, Korea will take the lead in global collaboration to establish international standards across the entire hydrogen economy value chain.”

On the second day of the G20 Summit on Sunday, Yoon participated in the third session, titled “One Future,” where he announced additional support packages for the restoration and reconstruction in Ukraine.