$100bn Green Climate Fund Future to be Decided at Bali Summit

Feb 20th, 2014 | By | Category: Financing, News

800px-Tanjung_Benoav2-340x255Green Climate Fund (GCF) board members are meeting in Indonesia this week to draw up and clear action plan to raise $100 billion a year for low carbon investments in developing countries.

A crucial meeting in Bali, Indonesia this week will bring diplomats together with the aim of finalising a plan for the $100bn United Nations-backed initiative.

The aim of the Fund is to help drive low carbon investments and clean energy solutions in developing countries and board members met in Bali on Wednesday to open the three-day meeting.

They will debate the future of the fund and set out key mechanisms to allow funding to begin.

At the Warsaw UN Climate Change Conference in November, world leaders agreed that the fund would become operational in late 2014, and they also invited participation from the private sector as well as governments.

Board members are now working on an action plan that will be presented in the build up to the next major climate summit in September which will aim to induce fresh new commitments of funding from world leaders. The September meeting will also help to lay the groundwork for the 2015 Paris conference at which global and binding agreements are due to be reached.

Progress on agreeing how the funding will be mobilised and allocated has so far been slow, with countries divided on the extent of private sector contributions and the role of mechanisms such as carbon pricing.

and is seen as a vital part of UN plans to curb rising levels of greenhouse gas emissions in developing countries.



Started in year 2010, ‘Climate Himalaya’ initiative has been working on Mountains and Climate linked issues in the Himalayan region of South Asia. In the last five years this knowledge sharing portal has become one of the important references for the governments, research institutions, civil society groups and international agencies, those have work and interest in the Himalayas. The Climate Himalaya team innovates on knowledge sharing, capacity building and climatic adaptation aspects in its focus countries like Bhutan, India, Nepal and Pakistan. Climate Himalaya’s thematic areas of work are mountain ecosystem, water, forest and livelihood. Read>>

Himalayan Nations at Climate Change Conference-CoP21

Over 150 heads of state and government gathered in Paris at the UN climate change conference on Monday, 30 November, the largest group of leaders ever to attend a UN event in a single day. In speech after speech, they provided political leadership and support to reach an ambitious and effective climate change agreement by…

Read more…

Comments are closed.

seo packagespress release submissionsocial bookmarking services