The role developed countries should play for an inclusive green recovery was defined on Monday during the Leaders' Dialogue session.
President Moon Jae-in, who chaired the live session as the host, said there are no borders when it comes to climate change and therefore it's important to cooperate and understand each nation's respective economic and social conditions.
“We'll help developing countries secure green technology through the Climate Technology Centre and Network and Green Technology Center. We'll be involved in funding and enhancing the capacity of developing countries by expanding climate sector ODA. We'll also establish a new green new deal fund within the Global Green Growth Institute.”
Denmark's Prime Minister affirmed that global partnership is the foundation for a solid climate change response.
She said the time has come to have innovative climate change solutions, adding that Denmark plans to continue to work closely with South Korea.
“We are now on the road to COP26. Now is the time to showcase new green solutions and scale them. Let's share experiences and learn from each other and act now for our green future together.”
Colombia, despite being a country that contributes less than 1 percent of the world's CO2 emissions every year, said it's willing to contribute by achieving carbon neutrality.
“Colombia is making a big bet. A historical bet. We want to reach by 2030 a reduction of 51 percent in our C02 emissions.
And we have committed ourselves to reach by 2050 carbon neutrality.”
The South American country pledged to make efforts through electric vehicles, renewable energy transition and clean mobility.
The President of European Commission announced the EU's ambition to be the first carbon neutral continent by 2050.
“2020s is the make or break decade and that's why Europe is committed to reduce our emissions by at least 55% by 2030 compared to 1990 levels.”
She praised President Moon for his plan to update the NDC ahead of COP26, saying it would inspire South Korea's international partners.
The U.S. special presidential envoy for climate, John Kerry, emphasized that countries should step up their ambitions to reduce the Earth's temperature by 1.5 degrees and praised South Korea for joining such efforts.
He also revealed the steps his country would take to support developing countries in responding to climate change.
“So we will double our public climate finance to developing countries by 2024 or sooner.
We will work to achieve the 100 billion and in addition we are working with the private sector to bring literally trillions of dollars to the table now for investment in climate related initiatives.”
Wrapping up the P4G Seoul Summit, President Moon said he hoped it served as an opportunity to expand global cooperation to ensure a coordinated response to the climate crisis.
Hong Yoo, Arirang News.