Facing a crucial meeting this week in Bali, the board of the U.N.’s Green Climate Fund (GCF) once again postponed drawing out the bulk of policy that will guide the fund as it prepares to open later in 2014.
The U.S. delegation negotiating at the U.N. international climate change conference in Poland is pushing an agenda of minimising the role of “Loss and Damage” in the UNFCCC framework, prioritising private finance in the Green Climate Fund, and delaying the deadline for post-2020 emission reduction commitments, according to a State Department negotiating strategy which IPS has seen.
Tourism, agriculture, fishing, the water supply – climate change threatens the very foundations of society and the economy in Mauritius. As the Indian Ocean island nation develops its adaptation strategies, it is working to ground the next generation of citizens firmly in principles of sustainable development.
The Green Climate Fund (GCF), created under the auspices of the United Nations to finance the huge investments demanded by climate change, was opened up to participation by civil society and private sector representatives as observers in March.
Developed countries report that they delivered more than 33 billion dollars in Fast Start Finance (known as FSF), beyond the pledges they made at COP 15 in Copenhagen in 2009. Recent analysis suggests that the funding delivered may have exceeded 38 billion dollars. But that is not the whole story.
The Climate Change Fund set up in November in Mexico faces enormous challenges such as the enforcement of anti-corruption standards, which make it unlikely that concrete actions will begin this year, according to civil society organisations.
As the new board of the United Nations Green Climate Fund meets in Berlin this week, activist and watchdog groups here and around the world are expressing frustration over proposed rules they say are already significantly limiting civil society participation in the new initiative.
The new Green Climate Fund to help developing countries cope with climate change may one day have a bigger budget than the World Bank. At the moment, however, the Fund is empty.
Five months behind schedule, the board of the newest and largest international financing mechanism aimed at dealing with the effects of climate change, the Green Climate Fund, is finally slated to meet this week, just ahead of a late-summer deadline.
With the United Nations Climate Change Conference less than four months away, African countries need to present convincing arguments and successful adaptation projects to attract competitive funding for adjusting to changes in global weather patterns, climate finance experts say.
The European Union has been using all means necessary to fill the multi- billion-euro fund for climate change, including the controversial mobilisation of public resources through private financial intermediaries.
Gender considerations remain largely disregarded in existing climate funds, even though women are some of the hardest hit by the impacts of climate change on livelihoods and agriculture.
As developing countries urgently seek new sources of financing to cope with problems linked to climate change, delegates from the nine-nation Organisation of Eastern Caribbean States (OECS) met here last week to evaluate potential funds and outline a more concrete vision of what is required for the subregion.