Red flag to green fund | Centre for Science and Environment


Thursday, December 1, 2011 - 06:11
Thursday, December 1, 2011 - 06:11

Red flag to green fund

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Durban, December 1: Arguments and stalemates are a passé at UN climate change conferences. UN’s 17th Conference of Parties on Climate Change (COP17), being hosted at Durban, South Africa saw its first impasse after three days of the negotiations, when a group of countries from disparate economic standing stopped the adoption of a report that could help set up the $100 billion a year fund to combat the effects of global warming in developing countries.

Venezuela on behalf of ALBA (a group of Latin American countries) along with Colombia and Nicaragua from the developing world, and United States and Saudi Arabia ensured that the draft report for setting up the Green Climate Fund (GCF) was stuck in the negotiation halls because they had problems with its contents. US which played a role in making this draft was joined by Saudi Arabia who said that the report contained gross inaccuracies, while Venezuela along with the two other developing countries asked the parties to reconsider the role of the World Bank in managing  the GCF.

The negotiations which carried on till late Wednesday evening could see no breakthrough. Thursday will see a number of closed door negotiations and contact groups formed by the COP president Maite Nkoana-Mashabane, who will try to iron out difference.

The BASIC nations (Brazil, South Africa, India and China) added to Venezuela’s pitch by saying that the green fund has to be under the guidance of COP and the COP should invite countries to host the Transitional Committee board.

Alliance of Small Island Nation States (AOSIS) said that it was not transparent enough, and wanted it be linked with the COP process. However, they wanted a COP decision that the funds should be operationalized and capitalised in the current Durban round of negotiations. African group had also complained the lack of transparency and direct channel for funds to flow in to the poorest and most vulnerable countries. They also want the money to be increased to $600 billion or 1.5 per cent of the gross national product of developed countries per year and advocate keeping off private companies from developed countries from securing contracts out of this fund.

On Tuesday, a day before the report on GCF came up for adoption, G77 plus China discussed till late hours on how to tackle the issue of GCF, and finally decided that drafts still had major  weaknesses, the major one being the COP having no hold purses and character of GCF.
 

Video

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DTE Cover Story

Blogs

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Collect and Scatter
9 December 2011
A Doog fomentry on CoP-17
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Mind Over Matter
7 December 2011
At the cusp of another lost decade
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Collect and Scatter
7 December 2011
3.2.5: A humble sub mission, italics added

Press Releases

Wednesday, December 7, 2011 - 10:44
India's environment minister says "equity is central to any debate on climate change" | Comments

Makes her first public address in Durban at a side event organised by CSE in association with the ministry

 
 
 
  Contact us
  Durban: Delhi:
  Chandra Bhushan Papia Samajdar
  Email: chandra@cseindia.org Email: papia@cseindia.org
  Phone: +27 732335697 Phone: +91 9811906977
  Skype ID: csechandra  
  Souparno Banerjee  
  Email:souparno@cseindia.org  
  Phone: +27 71 023 3222  

Documents

Tuesday, December 6, 2011 - 11:46
India's Intervention at the LCA Plenary

Intervention of India in the LCA stocktaking plenary 10:00-11:30 AM; 5th December 2011

Wednesday, November 30, 2011 - 16:55
Cancun Agreements

Report of the Conference of the Parties on its sixteenth session, held in Cancun from 29 November to 10 December 2010

Download pdf

Presentations

Tuesday, December 6, 2011 - 18:06
The imperative of equity for an effective climate agreement | Comments

By Sunita Narain, director-general, CSE

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Tuesday, December 6, 2011 - 18:06
Equity and the transition to a low carbon economy | Comments

By Chandra Bhushan, deputy director, CSE

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Tuesday, December 6, 2011 - 18:06
Furthering Climate Justice : Protecting the Vulnerable, Compensation for Impacts | Comments

By Ambuj Sagar, Vipula and Mahesh Chaturvedi Professor of Policy Studies Indian Institute of Technology Delhi

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