UNITED NATIONS CLIMATE FUND INAUGURATES FIRST MEETING
New York, Aug 23 2012 5:10PM
A United Nations fund aimed at mobilizing resources to help developing countries mitigate the impact of global warming has kicked-off its first official meeting, it was announced today.
Established by the UN Framework Convention on Climate Change (UNFCCC) during the 2011 UN Climate Change Conference in Durban, South Africa, the Green Climate Fund (<"http://gcfund.net/home.html">GCF) was created to help developing nations protect themselves from climate impacts and build their own sustainable futures.
However, the GCF could not meet officially until it had filled all 24 seats on its Board, which effectively governs and supervises all aspects of the Fund.
According to a press release confirming the inaugural session, the GCF will now set about satisfying its mandate, which includes providing developing countries with simplified and improved access to climate change funding, as well as providing them support to limit or reduce their greenhouse gas emissions and adapt to the impacts of climate change.
The Board inaugurated its first gathering by electing Mr. Zaheer Fakir of South Africa and Mr. Ewen McDonald of Australia as its Co-Chairs for a one-year term. Mr. Fakir is the Head of International Relations and Governance of the Department of Environmental Affairs of South Africa, while Mr. McDonald is the Deputy Director General of the Australian Agency for International Development, and both boast numerous years of experience in development and climate change-related issues.
Meanwhile, six countries – Germany, Mexico, Namibia, Poland, Republic of Korea, and Switzerland – are vying to host the Fund.
The GCF's meeting will conclude on Saturday, 25 August.
Aug 23 2012 5:10PM
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