As the climatic conditions of the world are worsening, the world feels the need for positive actions to fight back, mitigate and adapt the challenges the climate change
disasters are posing to various vulnerable regions around the globe. Bearing up
with the destruction is cowardice, talking about the actions is also not a powerful solution; even creating an upheaval will not work. Then, what could be the most effective way? This question is not very complicated. There is just one simple answer, “To Act”. Now the dilemma is how? The answer is whatever the best way you can.
An ongoing thought of green Climate
Fund, which was floated in the 2009 Conference of parties (15), held in Copenhagen, Denmark , seems to bring in some positive mode of action. The idea was first introduced by UN Secretary-General Ban Ki-moon, while addressing the representatives of the 30 countries under the umbrella of “Climate Vulnerable Forum”. The idea was to urge the world leaders to create a multibillion-dollar fund to fight the effects of climate change. In the contemporary era of development and modernization, money matters are crucial. Through the advent of Green Climate Fund, there seems to be a ray of hope in the way of Climate Change
Mitigation and Adaptation. This fund is expected to bring in several positive changes and differences towards the exacerbating phenomenon of Climate Change
This fund aims at a joint venture between the developed as well as the developing countries, to collectively fight back the horrors of Climate change. The developed Nations are expected to pay their committed support to developing countries to establish National Adaptation Plans (NAPs). This initiative would enable the developing countries to identify long-term priorities for responding to climate change challenges.
The supervisory structure of GCF comprises of a Green Climate Board comprising 24 members, as well as alternate members, with equal number of members from developing and developed country Parties. “A Transitional Committee” is responsible for the design of the Green Climate Fund. This committee has 40 members, with 15 members from developed country Parties and 25 members from developing country Parties. A more comprehensive breakdown of members include seven members from Africa, seven members from Asia, seven members from the Group of Latin American and Caribbean States, two members from Small Island Developing States and two members from the Least Developed Countries.
Amongst the major goals of GCF, the pivotal is to motivate the industrialized countries, to reach the US$100 billion target by 2020. This objective is expected to be achieved through employing a mix of public and private sources. 19 of the Development Banks around the globe have already pledged to support the Green Climate Fund to “work together” to combat climate change. Germany has pledged 40m Euro, and Denmark has pledged 15 m Euros. Similarly more positive responses are expected from other developed countries.