29th April 2011

Rocky Start for Climate Fund’s First Transitional Committee Meeting

Meeting starts late, ends late, struggles over agenda

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By Perla Buenrostro and Ana Maria Kleymeyer

MEXICO CITY, MEXICO - In Cancun, Mexico last December, countries attending the annual Conference of the Parties (COP) for the UN Climate Convention agreed to create a Green Climate Fund (GCF). At the same time, they agreed to establish a Transitional Committee that will design the GCF.

The first meeting of the Transitional Committee is currently underway here in Mexico City. Instead of launching quickly into the agenda, the entire morning and most of the afternoon was dedicated to deciding who would chair the meeting. Finally, the Committee decided that Mexico, who currently holds the presidency of the COP, South Africa, who will take over the presidency this December, and Norway would all co-chair. The Committee then spent an hour discussing an alternate agenda proposed by the African Group. The proposal was much more detailed than the draft agenda circulated by the Secretariat of the UNFCCC, who organised the meeting. Finally, the group agreed to adjust the original agenda. The meeting was extended an hour until 20:00 in order to begin an exchange of views on the scope and purpose of the CGF. Day two will continue this discussion.

According to the original agenda, the first meeting should have elected officers, adopted the agenda, and then decided on working arrangements for the Committee as well as a workplan.

Other questions, such as rules of procedure for the Fund (how developing countries will apply for funding, transparency mechanisms, as well as how to track sources and managing financial support provided by developed countries), financial instruments and models, and mechanisms to ensure environmental and social standards may be taken up at the Committee’s future meetings. But at this pace, this year the Committee may only manage to agree on principles and guidelines for the Board to further develop the detailed rules after Durban.

The Green Climate Fund will support projects, programmes, policies and other activities relating to climate change mitigation and adaptation in developing countries through thematic funding windows.

Summary of Transitional Committee Terms of Reference

· Fund Board Rules of Procedure
· Legal and institutional arrangements
· Financial instruments, funding windows and access modalities
· Standards, safeguards and accountability
· Expert and technical advice mechanisms
· Independent performance evaluation
· Role of the UNFCCC Secretariat
· Complementarity with other funds and institutions
· Stakeholder input and participation