Informal consultations on Green Climate Fund underway at COP17

The President of COP 17, Ms. Maite Nkoana-Mashabane has launched informal, transparent and inclusive consultations with Parties on the establishment of a Green Climate Fund underway at COP17 in Durban, South Africa, the UN Economic Commission for Africa (ECA) has said.

In a move to avoid opening what she feared could lead to a lengthy and endless debate on the Fund, ECA said in a statement December 1, 2011 that the South African minister announced the decision to the satisfaction of many supporters of the Fund.

According to the ECA, the decision was reached following the presentation of the report on the establishment of the Fund by Mr. Trevor Manuel, ex-South African Finance Minister and co-chair of the Transitional Committee.

According to the Information and Communication Service of the ECA, the report contains recommendations on the operations of the Fund including its governance, on contributions to the Fund and eligibility for disbursements, legal instruments, among others.

All parties at the talks agreed that the Fund will be a very important instrument in fighting climate change impacts and it must be established as soon as possible. Many delegates were also convinced that agreement must be reached on establishing the Fund during COP 17, the ECA added.

Ms. Nkoana-Mashabane was quoted as saying “A decision on the Fund will need to be adopted at this session (COP 17). I will conduct transparent and inclusive consultations based on the draft report delivered by the transitional committee.”

She said she had decided to chair the consultation personally as it was very important to launch the Green Climate Fund as soon as possible.

By Ekow Quandzie