Bids to Host the Green Climate Fund Announced
16 April 2012: The Global Environment Facility (GEF) and the UN Framework Convention on Climate Change (UNFCCC) Secretariat have reported that they received bids to host the Green Climate Fund (GCF) from the following six UNFCCC parties: Germany, Mexico, Namibia, Poland, Republic of Korea, and Switzerland.
The GCF was launched in December 2011 at the Durban Climate Change Conference in order to coordinate international cooperation in climate change and sustainable development initiatives. The GCF is being set up jointly by the GEF and the UNFCCC. The organization of the Fund requires the selection of a host country, and criteria for bidding were adopted at the 17th session of the Conference of the Parties (COP 17) to the UNFCCC, including legal and financial capacity, ability to provide privileges and immunity, and organized management capabilities.
At the GCF Board's first meeting, scheduled to take place from 31 May-2 June 2012, the selection process will begin through an open and transparent dialogue. The Board's suggestion from this meeting will then be taken to the UNFCCC for endorsement in November 2012. [GEF Press Release] [Green Climate Fund Website]