SEOUL, South Korea, Sept. 1, 2022 /PRNewswire/ -- The W-Foundation (Wook Lee, Chairman of the W-Foundation), official partner of the UN Framework Convention on Climate Change (UNFCCC), successfully held the 1st Conference of Global Climate Action Fund at the Shilla Hotel in Seoul, Korea from August 22 to 24, ahead of the upcoming COP 27, which is being held in Egypt November of this year.

The Conference's view is that despite concerted global efforts by institutions and governments to promote innovations that can help address and mitigate climate change, many promising technologies and ideas remain stalled in development due to barriers in finance, policy and management resources.

The mission of the global alliance for Global Climate Action Fund (GCAF) is to identify and support promising climate action technologies and ideas globally. By bringing to the table a close-knit community of cross-disciplinary practitioners and experts in finance, policy and management, the Conference is well positioned to help promising climate technology projects overcome these barriers in a spirit of radical collaboration.   

Over 6 widely attended sessions covering ESG, Finance, Action, Technology, Innovation and Transportation, this year's inaugural conference highlighted the global private sector's leadership and participation in high-impact initiatives for Net-Zero. The Conference of Global Climate Action Fund will be an annual event. While the inaugural conference was held in Korea, where the W-Foundation is headquartered, the venue for next year's event will be decided in Egypt at COP 27.

Along with the UNFCCC and representatives of governments and institutions, global leaders from leading companies around the world such as S&P Global, YIDO, GroupM, Loreal, Deutsche Bank, Schneider Electric, Schlumberger, Borealis Group, SBS, Techstars, CGI, Globe Telecom, Oriental Brewery (AB InBev Family) participated in the Conference. These companies and organizations agreed to join in alliance with the Global Climate Action Fund over coming years to identify and support innovative climate technologies and ideas.

The W-Foundation Chairman Wook Lee highlighted that, "It was a privilege to bring together the leaders and experts of global companies that are leading the private sector's efforts to address and mitigate climate change. We look forward to working closely with these alliance partners to identify and help promising technologies and ideas overcome barriers and find ways to achieve scale and relevance in the market. We believe this will be critical to our path to getting to Net-Zero."

W-Foundation (Official partner of the United Nations Framework Convention on Climate Change) is a non-profit organization founded in 2012. W-Foundation is committed to leading and enabling a broad-based public support for nature conservation, climate change mitigation and immediate relief for refugees impacted by climate change and natural disasters. W-Foundation partners with like-minded individuals, corporations and organizations around the world to build and sustain a broad-based movement to making a difference for our shared future.