The UN Climate Talks in December 2010 concluded with a set of decisions known as the Cancun Agreements, which included the establishment of the Green Climate Fund (GCF). Having been involved in many of the negotiating sessions, I know that this fund is seen by many, particularly developing countries as an opportunity to create a ‘legitimate’ institution for delivering scaled-up finance to address climate change. However, there remains significant skepticism on whether or not this Fund could deliver adequate and predictable resources in a timely manner. Much work has yet to be done before the Green Climate Fund could become a reality.
In Cancun, the COP decided to set up a Transitional Committee (TransComm) and entrusted it with the task of developing the operational documents for the GCF and making recommendations to the COP in Durban. The Transitional Committee will include representatives from 25 developing countries and 15 developed countries. Some countries have announced their nominations, while others are still in the process of finalizing. The delay comes as no surprise of course. Nominations within regional groups remain a highly contentious and political issue. With limited seats countries are grappling to ensure they have a voice in the body that will design the Fund. I’ve heard the mix of skills and expertise on finance, climate and, development represented in the individuals nominated and they vary from country to country.