This document summarizes the speech given by the Mayor of Gwangju, South Korea on the city's urban environmental policies and initiatives to address climate change. It outlines that cities are major contributors to global warming and climate change. It then provides details on three of Gwangju's key policies: 1) A carbon bank system that incentivizes citizens to reduce energy use; 2) Implementing comprehensive land use policies focused on sustainable development; and 3) Fostering a green industry sector. The mayor concludes by proposing strengthened cooperation between cities worldwide, a standardized evaluation index for green cities, and a new financial mechanism like Urban CDM to incentivize carbon reduction in cities globally.