Special ON CLIMATE CONFERENCE 2011
Green Climate Fund
Updates from Durban
The major outcome of the Sixteenth session of the Conference of the Parties (CoP-16) was establishment of Green Climate Fund (GCF) to combat climate change. The Transitional Committee (TC) consisting of 25 developing and 15 developed countries met four times in last seven months under the leadership of three co-chairs from Mexico, Norway and South Africa, and two vice chairs from Australia and Singapore under the framework of Cancun Agreement. At the end of the last meeting held in Cape Town, South Africa, the TC has prepared the report covering four thematic elements including objectives and guiding principles, governing instruments, operational modalities and monitoring and evaluation to be presented before the parties at the CoP 17. The report was sent with disagreement of the USA and Saudi Arabia, and reservations of some countries such as Venezuela and Columbia. Dynamics of discussion
On the third day of the climate negotiation sessions in Durban, the draft report was presented by the Planning Minister of the Republic of South Africa for consideration and approval. The team, task and the mission of the TC was highly appreciated by all parties and groups of parties. However, some countries showed clear disagreement especially on the element of governing instruments. It appears that the G77 and China, the largest group in the negotiation process expects that the GCF would be a dedicated fund which is consistent and coherent under the convention. The group stated that the GCF needs to be operationalised and capitalised through an open, transparent and party-driven consultation process. Barbados on behalf of Alliance of Small Island States (AOSIS) strongly supported the G 77 and China by saying that the group will not accept any delay in operationalization of GCF. AOSIS also looks for separate rapid funding window for LDCs and SIDS under GCF framework. LDCs and many other developed and developing countries want to see the GCF functional as early as possible, preferably by the first quarter of 2012. Some countries such as Singapore fear that the consensus about governing instrument may have risk of not having the instrument at all. However, most countries are in favour of having approval of GCF in Durban to be operationalised by early 2012 to combat climate catastrophe. In contrast, USA and Saudi Arabia are still quite opposite in endorsing the current text. USA clearly mentioned that GCF would become the global financial institution. Therefore the governing instrument should be designed with much care. Venezuela on behalf of ALBA hopes to see the outcome of GCF in Durban although the current text is not acceptable to them. On the other hand, Columbia on behalf of some Latin American countries proposed to have informal consultation in open and transparent manner to finalize the text. Pakistan appreciatedSwitzerland for showing interest to be the host of GCF and urge the developed countries for immediate pledge from here in Durban. From the corridor
Some parties and observers were found to be a bit frustrated at the start of the climate negotiation in Durban with messages on Canada's withdrawal from the Kyoto Protocol, negative position of large emitting countries on legally binding agreement, uncertainty on the agreement on KP second commitment period and finally indifferent position of some developed and developing countries on GCF governing instrument. However, negotiation continues with the hope that the success of Durban may be achieved over discussion and debate in the next days of sessions.
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