LEGAZPI CITY—The United Nations Convention on Climate Change commended the Green Climate Fund leadership, under Albay Gov. Joey Salceda, for fulfilling the complex requirements for its operation and for raising an initial $10.2 billion in its first year.
Salceda co-chaired the GCF board where he represented Southeast Asia and the developing countries. His German counterpart represented the developed countries. Their term ran from October 2013 to October 2014.
The recently concluded UNFCCC Conference of the Parties held in late December in Lima, Peru made special mention of the GCF performance during its 20th session. The commendation was contained in the COP 20 Decision document, in response to the GCF 2013-2014 report.
The GCF has now been equipped with the mechanics and financial requirements for its initial mobilization, put in place during Salceda’s term.
“Under our chairmanship, the GCF board achieved—despite skepticisms and deep divisions—two major milestones: the completion of the eight prerequisites for operationalization and the raising of US$10.2 billion for its initial program mobilization,” said Salceda.
A specialized UN agency, GCF is tasked to preside over the global shift to low carbon emission and climate-resilient development by encouraging developed countries which are blamed for most of the causes of climate change and its ill effects, to reduce their greenhouse gas emissions, and to support developing countries adapt to the impacts of climate change.
Under Salceda’s co-chair term, the GCF focused on strategies to compel developed countries to remit their financial pledges committed earlier in Copenhagen. The money will help support poor countries in developing their disaster risk reduction and climate adaptation programs.
Salceda said the 2013-2014 report contained the GCF board’s comprehensive and detailed responses to the guidance received from the COP and decisions on the confirmation of the completion of the essential requirements and the start of the initial resource mobilization process.
He said the COP had expressed appreciation of the GCF’s successful and timely initial resource mobilization process that led to the raising of $10.2 billion from the contributing parties, which enabled the Fund to start its activities in supporting developing countries.