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These pages and sections capture news of climate change and stories about the groundswell of climate action by governments, companies, cities, the UN and civil society around the globe. To provide feedback, email us at press@unfccc.int Photo©Naziha Mestaoui

First Meeting of the Transitional Committee for the Design of the Green Climate Fund

Mexico City, 28 April 2011

 

Opening statement by

Christiana Figueres, Executive Secretary, United Nations Framework Convention on Climate Change

 

 

Distinguished members of the Transitional Committee, Ladies and gentlemen,

 

It gives me great pleasure to declare open the first meeting of the Transitional Committee for the design of the Green Climate Fund.

 

Let me start by thanking the Government of Mexico for the generous hospitality in hosting this meeting in Mexico City. I would also like to say through you, Ambassador de Alba, a very special thanks to Minister Patricia Espinosa, President of the Conference of the Parties, for her support and guidance during the preparation of this first TC meeting.

 

By its decision 1/CP.16, the COP decided that the Green Climate Fund shall be designed by a Transitional Committee comprised of 40 members. It also invited me as Executive Secretary of the UNFCCC, in consultation with the President of the COP, to convene this initial first meeting of the Transitional Committee.

 

May I recall that the Committee is composed of seven members from Africa, seven members from Asia, seven members from Latin America and the Caribbean, two members from Small Island Developing States, two members from the Least Developed Countries and fifteen members from developed countries.

 

I am pleased to welcome to this initial meeting such a distinguished group of members with the necessary experience and skills, notably in the area of finance and climate change.

 

Members of the Committee, the task before you is to propose a design that will make the Green Climate Fund the window into a new era of vastly greater financing for climate action in the developing world, and to do so in time for approval in Durban.

 

In the conduct of its work, the Transitional Committee will make special efforts to encourage input from all Parties and from relevant government and non-governmental organizations and the private sector, who will contribute valuable insights to the design of the Fund. I therefore am also pleased to welcome here today a wide array of observers to this first meeting of the Transitional Committee.

 

To get public and private capital flowing freely on the scale required, I believe that the Green Climate Fund will benefit from a robust, transparent and flexible design that first,offers developed world governments a trusted avenue to deploy their climate funding to the best effect. Secondly, offers a clear and compelling route of engagement for private sector capital to partner with, and be leveraged by government funds. And thirdly, can swiftly and transparently deploy these much greater amounts of funding so that both the providers of funds and the recipients are encouraged and incentivized to greater action on both adaptation and mitigation.

 

I am firmly convinced that as governments, industry and investors see a low-carbon, climate-resilient future is not only necessary, but sustainable and indeed even profitable, the necessary finance will flow faster than many of us now expect.

 

 

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