Global Climate Fund gains support
Our call to establish an independent Global Climate Fund at the UN climate meeting in China has made some unlikely allies.
In a letter to US Secretary of State Hillary Clinton, 5 prominent members of Congress stated their strong support for the fund to be established under the UNFCCC (United Nations Framework Convention on Climate Change).
This is a great endorsement as the US is threatening to block progress on the fund in an attempt to force concessions from developing nations.
Read the letter here.
Global Climate Fund
The US Government wants the World Bank to design a Global Climate Fund.
The World Bank is the top lender to environmentally and socially destructive projects around the world.
The Global Climate Fund is the pot into which developed countries like the US and UK should deposit money to help developing countries tackle the impacts of climate change.
But who devises the fund, manages the money and decides how it's allocated has caused big arguments at the UN climate change negotiations in China.
We want the Global Climate Fund to be designed within the UNFCCC.
Under the UNFCCC the fund would be truly independent and able to fully support developing countries in their efforts to tackle the worst impacts of climate change.
The climate fund will be a hot topic at next month’s international climate negotiations in Cancún, Mexico.