The UN’s Green Climate Fund (GCF), a body organized to assist poorer nations in reducing greenhouse gas emissions and adjusting to changing environmental issues, isn’t making much headway in basic decisions. As reported in Business Green, the $100 billion fund is struggling to make headway on “key decisions — such as where the fund should be headquartered, who should run it, how it will operate and how it can raise funds.”
The GFC still needs to make decisions on which countries will serve as co-chairs (chairs are made of one developed country and one developing country). Australia has all but locked down the developed country slot, but the developing country chair is wide open.
The headquarter location probably won’t be decided before 2013.
Source: Business Green
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