A new U.N. fund designed to manage billions of dollars to help developing nations combat climate change and called The Green Climate Fund will be based in South Korea.
The Board of the fund has selected Songdo, Incheon City, South Korea, the board of the fund over Mexico,
(Reuters) – Aid promises from rich nations to help poor countries slow global warming are reaching the $30 billion goal agreed in Copenhagen but analysts say much of that is old funding dressed up as new pledges.
Officially, the promises total $29.8 billion, Reuters calculations show, apparently meeting a pledge of “new and additional”