A three day gathering in Bali ended with a decision to split funding equally between mitigation and adaptation efforts, devoting 50% of adaptation monies to climate vulnerable regions.
The board also agreed to shift a “significant allocation” through a new private sector arm of the fund, and also said it will release a ‘gender action plan’ by October this year.
Talks were marred by disagreements between members over the role of the private sector, as well as the level of ‘ownership’ individual countries will have over cash they are given.
“In May, the Board aims to take key decisions on the remaining essential requirements that will allow the Fund to receive, manage, programme and disburse funds,” a statement read.
One observer RTCC spoke to called the meeting a “shambles”, adding the lack of progress placed huge pressure on delegates attending a second and final planning meeting this May.
Last week Indonesia ($250,000) and Italy (€500,000) became the latest countries to make pledges to the Fund, which analysts say will need around $10 billion this year to be able to operate effectively.
Indonesia’s Vice‐Minister of Finance Bambang Brodjonegoro said the donation was aimed at helping developing countries prepare programmes that could benefit from the GCF.
“I do hope other more capable countries can consider making pledges, or adding to their pledges, or making an indication of their pledges during this Bali meeting,” he said.
Further promises of investment are expected to be made by national leaders attending a UN climate summit hosted by Ban Ki-moon in September.
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>>