(From left) Simon Smith, British Ambassador to Korea; Alok Sharma, UK Secretary of State for Business, Energy and Industrial Strategy; and Yoon Seok-heon, Governor of the Financial Supervisory Service, are posing for a commemorative photo after signing a Memorandum of Understanding (MOU) on cooperation in climate finance at the British Embassy in Jung-gu, Seoul, on the afternoon of the 26th. (Photo by Financial Supervisory Service)
[Asia Economy Reporter Kim Hyo-jin] On the 26th, the Financial Supervisory Service (FSS) signed a Memorandum of Understanding (MOU) with the British Embassy in Korea to cooperate on climate finance.
The signing ceremony, held in the afternoon at the British Embassy in Jung-gu, Seoul, was attended by Yoon Seok-heon, Governor of the FSS, and Simon Smith, British Ambassador to Korea, among others.
Through the agreement, both organizations agreed to strengthen their capabilities to respond to the risks that climate change poses to the economic and financial systems.
The FSS plans to participate in international agreements related to climate finance and to develop and operate climate change stress tests.
The British Embassy in Korea will support the FSS's climate finance work and facilitate personnel exchanges between the FSS and UK specialized institutions. Both organizations also plan to promote joint research related to climate finance.
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