South Korea to house UN Green Climate Fund’s headquarters

South Korea to house UN Green Climate Fund’s headquarters

Songdo in Incheon City of South Korea has been picked for establishing the headquarters for the United Nations' Green Climate Fund.

South Korea is seen as a bridge between developed and developing nations of the world.

The new United Nations Green Climate Fund has been set up to manage billions of dollars to help developing nations in tackling climate change issues, such as greenhouse gas emissions, droughts, floods, heat waves and soaring sea levels.

In the year of 2009, developed countries agreed to raise funds to tackle climate issues. Around $10 billion are collected per year, and there are plans to increase the fund to $100 billion from the year of 2020.

International charity Oxfam welcomed the United Nations' announcement to house the headquarters of the fund in South Korea.

The announcement, however, discouraged the authorities of the former German capital city of Bonn, which is the home to the United States' Climate Change Secretariat, as they had hoped that Bonn would be selected for the headquarters of the fund.

Apart from Germany and South Korea, Namibia, Mexico, Switzerland and Poland were also in the race.


FrenchTribune Specials

Acceleration is Key to Cheetah’s Swiftness

If anything that goes with cheetah then it is nothing but speed. Recently, a research has been carried out to know what make cheetahs so fast. It was initially considered that it would be speed, but study researchers came up with a different answer.

A group of researchers from the Royal Veterinary College at the University of London...

Most Popular

Global Warming Agreement 2015 in Pipeline

The international agreement proposed for regulating the...

Alligator spotted near Peconic River

Wildlife veterans are on a hunt for a four-foot-long...

Graphene has Great Characteristics

Graphene was discovered in 2004 by Andre Geim and...

Post of Hairless Squirrel on Reddit leads many to misidentify it

The pictures of hairless Fox Squirrel fooled many Reddit...

Poll

Can Greece Come out of Economic Problems: