Oct 20 2012, Incheon Songdo International City was determined as a host of the secretariat of the United Nations climate fund on Saturday.
Online PR News – 30-October-2012 – Songdo/Incheon – Oct 20 2012, Incheon Songdo International City was determined as a host of the secretariat of the United Nations climate fund on Saturday
Result of voting was determined by the 24 members of the Green Climate Fund Secretariat over five other competitors and Songdo, Incheon was the final selection to accommodate the secretariat of the UN Green Climate Fund
The success of attracting the government and Incheon mutual cooperation through organic GCF Sati is the power to attract.
The major key of this success was the mutual cooperation between Korean Central Government and Incheon Metropolitan City intimately. Thus Incheon Songdo will become grown into an international city which leads to improve of low-carbon green growth and respond to global climate change and the world's environment.
Young-Gil Song, Mayor of Incheon Metropolitan City said “I’ve impressed by this achievement and felt great commitment to the whole body as the Mayor of Incheon Metropolitan City. The success stimulates me to more efforts for Incheon Metropolitan City and give thanks to all the Korean people and 290 million citizens of Incheon.”
Following details are the economic and social impact through attracting GCF Secretariat
The center of Saving Green Earth
. Republic of Korea will become the financial center of global climate change
. As positioned center of 'World Bank' in the environmental sector which supports developing countries to reduce greenhouse gas emissions and adapting to climate change
Fund size: $ 100 billion by 2020 (After then the $ 100 billion per year will be distributed)
* Based on fund size and in the range of activities the Organization expected to grow in scale as the World Bank (IMF‧WB) in the field of the environment.
* High-grade job will be created and due to staying 500 of GCF Secretariat representatives for international meetings, Korea Development Institute (KDI) will be effected about 3,800 billion economic effects and Incheon Development Institute (IDI), the local economy is expected to create a ripple effect approximately 1,900 billion.