Brussels, 24/08/2012 (Agence Europe) - The competition is open for housing the Green Climate Fund (GCF), the Board of which met for the first time on 24 August. Two EU member states - Germany and Poland - as well as Mexico, Namibia, the Republic of Korea and Switzerland, have put themselves forward to house the fund, created in 2011 in Durban (South Africa) during the 17th conference of the parties (COP 17) of the United Nations Framework Convention on Climate Change (UNFCCC). This operational entity of the UNFCCC aims to finance the struggle against global warming by supporting actions conducted by developing countries.
During the inaugural meeting, the Board, composed of 24 members, began the work required to get the GCF up and running. They also elected its two co-presidents: Zaheer Fakir of South Africa and Ewen McDonald of Australia, for a one year term of office.
Zaheer Fakir is Head of International Relations and Governance of the Department of Environmental Affairs South Africa, and Ewen McDonald is Deputy Director General at the Australian Agency for International Development (AusAID).
Wealthy countries have pledged to provide developing countries with $100 billion by 2020 to help them finance their efforts for climate mitigation and adaptation. (AN/transl.jl)