Organizers meet to create 100b climate fund

center_img Sponsored Stories In what is hoped will serve as a new model of climate financing, the fund would receive and distribute $100 billion that rich nations have pledged annually by 2020 to help poorer countries adapt to changing climate conditions and to move toward low-carbon economic growth.The commitment to provide those billions in climate aid through the new “green” fund came as part of a hard-fought agreement in Durban that was meant to set a new course for the global fight against climate change for the coming decades.But the U.N.-brokered climate agreement did not specify how that money would be mobilized, and a series of technical decisions on how and where it should be run and even how it could raise those funds were put off for later.Meeting in Geneva by invitation of the Swiss government, the fund’s new 24-member board began by organizing itself, setting rules and hearing offers from six nations that would like to host the fund’s operations: Germany, Mexico, Namibia, Poland, South Korea and Switzerland.Swiss Cabinet member Doris Leuthard, who directs the Federal Department of the Environment, Transport, Energy and Communications, welcomed the board to Geneva for the fund’s inaugural three-day meeting, which runs through Saturday. She also began pressing the Swiss case for serving as the fund’s long-range hosts. Get a lawn your neighbor will be jealous of Former Arizona Rep. Don Shooter shows health improvement Construction begins on Chandler hospital expansion project Comments   Share   last_img

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