GCF board endorses $500m for new projects to support climate action

(Yonhap)

SEJONG -- The Green Climate Fund (GCF), the South Korea-based United Nations climate fund aimed at helping poor nations fight global warming, has approved $500 million in funding for new projects and programs, according to Seoul's finance ministry Sunday.

During a virtual meeting held from June 28 to July 2, the GCF's board discussed new funding and accreditation proposals.

Launched in late 2010, the GCF aims to channel money from industrialized nations to developing countries to help them tackle climate change-related problems. (Yonhap)