Yoon pledges support for countries vulnerable to climate change

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Yoon pledges support for countries vulnerable to climate change

Published: 20 Nov. 2024, 11:13

President Yoon Suk Yeol speaks during a session of the Group of 20 summit in Rio de Janeiro, Brazil, on Monday. [POOL/YONHAP]

President Yoon Suk Yeol said Tuesday that Korea will step up support for countries vulnerable to climate change through its carbon-free energy initiatives.

Yoon made the pledge during the Sustainable Development and Energy Transition session of the Group of 20 (G20) summit held in Rio de Janeiro, Brazil.

"The role of carbon-free initiatives is vital in achieving carbon neutrality by 2050 and bridging the energy transition gap," Yoon said, according to a summary provided by his office.

Korea has been working on establishing standards and implementing carbon-free initiatives, which Yoon introduced at the United Nations General Assembly in September 2023.

Yoon also emphasized that Korea will continue to expand official development assistance for nations most affected by climate change.

As part of this effort, Yoon highlighted Korea's additional $300 million contribution to the Green Climate Fund, a commitment he made at last year's G20 summit. He also reaffirmed plans to provide $7 million to the United Nations Loss and Damage Fund for Developing Countries.

Yonhap