Monday, 24 August 2015

Green Climate Fund (GCF)

Green Climate Fund (GCF)

It is a fund within the framework of the UNFCCC

Founded as a mechanism to redistribute money from the developed to the developing world, in order to assist the developing countries in adaptation and mitigation practices to counter climate change


Headquarters:
HQ Songdo district of Incheon, South Korea.

It is governed by a Board of 24 members and initially supported by an Interim Secretariat.
‘The Green Climate Fund will support projects, programmes, policies and other activities in developing country Parties using thematic funding windows’.
The Green Climate Fund is intended to be the centrepiece of Long Term Financing under the UNFCCC, which has set itself a goal of raising $100 billion per year by 2020.

UNFCCC.
- The United Nations Framework Convention on Climate Change (UNFCCC) is an international environmental treaty (currently the only international climate policy venue with broad legitimacy, due in part to its virtually universal membership) negotiated at the United Nations Conference on Environment and Development (UNCED), informally known as the Earth Summit, held in Rio de Janeiro from 3 to 14 June 1992.
-  Objective to "stabilize greenhouse gas concentrations in the atmosphere at a level that would prevent dangerous anthropogenic interference with the climate system"

List of all Accredited entities

-Acumen Fund, Inc. (US)
-Africa Finance Corporation (Nigeria)
-Agence Française de Développement (France)
-Asian Development Bank (Philippines)
-Carribbean Community Climate Change Center (Belize)
 -Centre de Suivi Ecologique (Senégal)
-Conservation International Foundation (US)
 -Corporcion Andina de Fomento (Venezuela)
 -Deutsche Bank AktienGesellschaft (Germany)
-Environmental Investment Fund (Namibia)
-European Bank for Reconstruction and Development (United Kingdom)
-Inter-American Developement Bank (US)
-International Bank for Reconstruction and Development and International Development Association (US)
 -Kreditanstalt für Wiederaufbau (Germany)
 -Ministry of Natural Resources (Rwanda)
 -National Bank for Agriculture and Rural Development (India)
-Peruvian Trust Fund for National Parks and Protected Areas (Peru)
-Secretariat of the Pacific Regional Environment Programme (Samoa)
-United Nations Developement Programme (US)
-United Nations Environment Programme (Kenya)

Conventions to fulfill UNFCCC includes.
-Kyoto Protocol (1997)
-Bali Action Plan (2007)
-Copenhagen Accord (2009)
-Cancún agreements (2010)
 -
Durban Platform for Enhanced Action (2012)

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