Work on Green Fund Set to Miss March Deadline

Delegates to the Cancun climate summit, which was held in December 2010. Delegates to the upcoming climate talks in Mexico say it is unlikely that details of the $100 billion green fund will be ironed out in time for that gathering in March. Photo by: United Nations Framework Convention on Climate Change

It is unlikely that details of the $100 billion green fund will be ironed out in time for climate talks in Mexico slated for March 14-15, delegates said on Wednesday.

Groups of Asian, Latin American and Caribbean nations have yet to reach a consensus on who will assume early influence in designing the fund by taking part in the 40-nation United Nations-led talks due in Mexico City.

The green fund, agreed upon at last year’s Cancun climate summit, aims to reduce greenhouse gas emissions and forest degradation, as well as create measures to monitor, report and verify emissions reductions by developed countries.

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In the Latin American and Caribbean group, 14 countries are vying for seven seats in the fund’s planning committee, Reuters reports. The Asian group, meanwhile, said it will be unable to select its seven delegates before April.

A U.N. climate forum of all countries is scheduled to meet April 3-8 in Bangkok, Thailand.

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John Ashe of Antigua and Barbuda, who represents the Latin American and Caribbean group, said it appears unlikely that Latin American and Caribbean delegates will be chosen by mid-March.

“Proceeding with the meeting would be a tall order” if all nominees were not in place, he told Reuters.

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About the author

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    Ma. Rizza Leonzon

    As a former staff writer, Rizza focused mainly on business coverage, including key donors such as the Asian Development Bank and AusAID.