The Board of the Green Climate Fund wrapped up its first meeting Saturday by laying the foundations for the operationalization of the Fund.
The Board decided among others on how to conduct the process to select the host country of the Fund.
Six countries – Germany, Mexico, Namibia, Poland, Republic of Korea and Switzerland – made offers to host the Fund. The decision on the host country will be an important element of the Board’s report to the United Nations Climate Change Conference in Doha, Qatar, on 26 November – 7 December 2012.
The decisions taken in Geneva provide a strong basis for launching the work of the Fund in its first year of existence. “The Green Climate Fund is one of the key outcomes of several years of multilateral climate change negotiations. Our task as the Board is to turn these agreements into implementable actions that can transform the livelihoods of people responding to the impacts of climate change,” said Mr. Zaheer Fakir of South Africa, Co-Chair of the Board.
Mr. Ewen McDonald of Australia, the other Co-Chair of the Board, was very satisfied with the outcome of the meeting. “This first meeting was a very productive start for the Green Climate Fund. The Board has a strong commitment to ensuring the success of the Fund.
By facilitating investments from public and private sources, the Fund will help developing countries take action on climate change and grow their economies in a sustainable way, which will benefit millions of people around the world.
The Board will now continue the detailed work of establishing appropriate policies and procedures to ensure that we are able to achieve our objectives.”