The UN Green Climate Fund, first launched at the 2011 UN Climate Change Conference (COP 17) in Durban, South Africa convened for its first session  in Geneva on the 23rd of August, 2012 for a three day series of talks .The fund’s 24 member Board gathered in Geneva to establish the basic operations and processes of the fund following a lengthy delay in the wake of its founding in the winter of 2011. This period saw several accusations of developed nations dragging their feet and showing strong signs of reluctance to commit further resources at a time when their economies are very unsure. The fund, initially founded to serve as a means to manage the flow of international climate aid, currently around $10 billion annually but developed nations committed in 2009 to raising this to a targeted $100 billion a year by 2020 providing and initial $20 billion to support the fund’s operations through 2014.

At the conclusion of its three day session, the Green Climate Fund’s board selected six potential candidate countries willing to host the Green Climate Fund. The Board is set to announce who among the six candidates (Germany, Mexico, Namibia, Poland, Republic of Korea, and Switzerland) will host the fund at the United Nations Climate Change Conference in Doha, Qatar this winter (November 26th – December 7th).

Decisions regarding the practical management of the fund’s planned $100 billion in aid were left unaddressed at the meeting as expected. The fund’s board is expected to begin discussion regarding the facilitating and direction of the aid funds at successive meetings, the next of which is scheduled to be held in Songdo, South Korea, from October 18th to the 20th, 2012.

Source: Press Advisory from the Green Climate Fund (pdf)

Read more: Full archive of all documents presented at and concerning the first meeting are available at the GCFs’ website

Speculation regarding the meeting’s possible agenda at Reuters

Further advance reporting at Retuers

A report on the meeting’s decisions at Trust.org

The Manilla Times on the Fund’s first meeting

All News Posts (World Alliance For Low Carbon Cities)