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Opening Ceremony(Eng) 2020-11-27조회수:195

  • 작성자GSGG
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[Opening Ceremony]


▣ Speaker

 - Myung Rae Cho (Minister of Environment of the Republic of Korea)

 - Sung-Chul Shin (President of KAIST)

 - Yannik Glemarec (Executive director of Green Climate Fund)


◎ The 7th Seoul Climate-Energy Conference 2020 opened with welcoming remarks from Myung Rae Cho, Minister of Environment of the Republic of Korea.

Minister Cho pointed out the exceptionally long monsoon season in Korea this year and extreme weathers being observed all over the world. As a response, the global economy is showing efforts to transit into a carbon neutral society. For instance, the EU and the US had introduced carbon border tax and global corporations are also extending the efforts to build a sustainable supply chain.

He also pointed out the importance of green financing. Innovations from entrepreneurs and investments in the green industry is vital for the transition. The Korean government is also supporting this process by policy measures and establishing the green classification system and frameworks for ESG. Minister Cho finalized his remarks by promising continued efforts for the transition into a greener economy.

 

◎ The conference was continued with congratulatory remarks from Sung-Chul Shin, President of KAIST. President Shin started out by mentioning that COVID-19 could be a wake-up call on the ecological crises. In that sense, the topic of today’s conference ‘Green Finance and Business Creation in the Climate Crisis Era’ resonates the common response we should pursue against climate change and the pandemic.

President Shin called for the importance of common response towards climate change and pandemics. The Korean government has recently declared its ambitions for net zero emissions. However, we’ll need fundamental changes in energy policy, public awareness, and civilian participation.

He also mentioned that KAIST Graduate School of Green Growth was selected as one of the educational institutions focused on sustainability and green finance. Therefore, KAIST has launched a new deal initiative focusing on tackling the pandemic via antivirus technologies, disease-related big data management, and so on.

President Shin carried on by sharing the Multidisciplinary approach and global collaboration of the Global Strategy Institute (GSI). In closing, he emphasized the importance of the voices from the younger generations and noted that KAIST will continue to serve for the benefit all of humanity.

 

◎ The last remarks were from Yannik Glemarec, Executive director of Green Climate Fund. He started out by saying we’re running out of time to curb the change in average global temperature. Director Glemarec mentioned that emission reductions due to COVID 19 has a negligeable effect on average global temperature and urged for the green recovery. This could be done by global financial transition to into green resilient investments. Acquiring new funds for green growth would be particularly crucial for developing countries due to less fiscal and monetary capacity. Moreover, pandemic response has also reduced the public resources channeled to the developing countries.

Then he continued on by focusing the attention to finance and entrepreneurship. Director Glemarec noted that markets need information to deal with risks and those risks should be balanced with capital requirements, longer payback period greater technological novelty of green investment. Moreover, they’d need robust flow of bankable projects to invest in.

On the entrepreneurial side, entrepreneurs face range of policy and technological barriers. For instance, the energy industry won’t be so innovative in delivering technological progress if fossil fuel is heavily subsidized.

Director Glemarec continued on by mentioning the climate actions in developing countries and introducing the Four Pillar approach of the GCF. First, support integrated climate and sustainable development strategies of developing countries. Second, encourage pilot innovation policy. Third, scale up successful climate investment through blended finance and dedicated institutions. Fourth, create and shares knowledge so that finance can be aligned with sustainable developments. He concluded by noting the hopes for new initiatives and partnerships through financial transition to a sustainable and resilient future for all.


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