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Green Climate Fund

The Green Climate Fund will contribute to the achievement of the ultimate objective of the United Nations Framework Convention on Climate Change (UNFCCC). Green Climate Fund

First meeting of the Green Climate Fund Board to be held on 23‐25 August 2012 (Bonn, 2 August 2012) ‐ The first meeting of the Board of the Green Climate Fund, the global institution set up to channel support to developing countries to act on climate change, will take place on 23‐25 August 2012. Following the completion of the nomination of Board members, the work to operationalize the Green Climate Fund can now go forward. At the invitation of the Government of Switzerland, the Board meeting will be held in Geneva.

At the meeting, the Board is going to consider organizational matters and initiate work to develop the operational basis for the Fund. It is expected to decide on arrangements for the Interim Secretariat and the Interim Trustee of the Fund and agree on its first workplan. One of the key issues for the Board this year will be the selection of the host country of the Green Climate Fund. Six countries (Germany, Mexico, Namibia, Poland, Republic of Korea and Switzerland) will present their expressions of interest to the Board. The Board will initiate an open and transparent process in order to take a decision on the host country at one of its subsequent meetings and present it to the Conference of the Parties to the United Nations Framework Convention on Climate Change (UNFCCC) for endorsement at its next session to be held in Doha, Qatar, from 26 November to 7 December 2012.

About the Green Climate Fund

The Green Climate Fund was established in December 2011 at Durban, South Africa, by the Conference of the Parties to the UNFCCC with the purpose of making a significant and ambitious contribution to the global efforts towards attaining the goals set by the international community to combat climate change. In the context of sustainable development, the Fund will promote the paradigm shift towards low‐emission and climate‐resilient development pathways by providing support to developing countries to limit or reduce their greenhouse gas emissions and to adapt to the impacts of climate change. The Fund will provide simplified and improved access to climate change funding to developing countries, including direct access, basing its activities on a country‐driven approach.

The Green Climate Fund will be governed and supervised by a 24‐member Board and was designated as an operating entity of the financial mechanism of the UNFCCC. The COP requested the UNFCCC secretariat jointly with the secretariat of the Global Environment Facility to set up the Interim Secretariat for the Fund.

Principal Resources:-

The Governing Instrument for the Green Climate Fund was approved by the Conference of the Parties to the United Nations Framework Convention on Climate Change...Governing instrument for the Green Climate Fund

Recognizing that climate change represents an urgent and potentially irreversible threat to human societies and the planet and thus requires to be urgently addressed by all Parties, and acknowledging that the global nature of climate change calls for the widest possible cooperation by all countries and their participation in an effective and appropriate international response, with a view to accelerating the reduction of global greenhouse gas emissions... Report of the Conference of the Parties on its seventeenth session, held in Durban, South Africa, from 28 November to 11 December 2011and is annexed to decision 3/CP.17 presented in UNFCCC document FCCC/CP/2011/9/Add.1

More information is available on the Fund’s website
Read More:- The Green Climate Fund - Objectives and guiding principles

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