Korea-based Green Climate Fund helps developing countries access direct finance

Korea’s role as host of the Green Climate Fund is drawing greater attention to how developing countries can access climate finance, particularly through mechanisms designed to bypass traditional intermediaries. Insights from a recent lecture in Seoul highlighted how the institution is expanding direct access to funding, allowing national entities to take greater control over climate projects. “Our goal is not just to fund projects but to help build systems where countries can mobilize climate finance independently,” Olena Borysova, a principal in the GCF’s investment services department, said Feb. 24 during a lecture for Royal Asiatic Society (RAS) Korea. “Our global economy has long been built on burning carbon. The challenge now is how quickly we can transition to systems that are sustainable, resilient and climate-friendly.” To address this need, GCF was established as a key mechanism under the Paris Agreement, working with governments and financial institutions to fund climate projects in developing countries. “Whether climate change is anthropogenic or not, we are alrea

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