Nacpil: More markets, more profits from the suffering of people, if Green Climate Fund focusses on private sector

by Tim McSorley

Lidy Nacpil is the coordinator of Jubilee South--Asia Pacific Movement on Debt & Development at the Climate Justice Now! press conference, Friday December 9:

"The Durban COP is expected to approve the design of the Green Climate Fund*, but the proposal that is on the table is very difficult to accept principally because they are proposing a private sector faciltiy.

"This is outrageous because the fund it supposed to be for developing countries for the good of people of developing countries."

Nacpil adds that the goal of eveloped countries is to ensure access to the fund for private companies, since this fits with their policy of wanting more private finance for climate change actions.

"What this means, of course, is more markets, more protits from the suffering of people and climate finance that will not be based on the priorities or policies of developing countries."

 

*The Green Climate Fund is a proposed $100 billion fund to finance projects for adaptation to and mitigation of climate change impacts. It is currently under the interim control of the World Bank, and one of the goals at COP17 has been to decide its future governance and mode of operation. While the amount of funding required is generally accepted, how it is disbursed - whether to governments, financial institutions, local projects, etc. - is highly controversial. The US is currently pushing for it to be led by the Global Environment Facility, which is a primarily financial institution and leans towards working with private companies. Other proposals is that it fall under the UNFCCC or the UN itself. For more, check out The Role of False Climate Change Solutions from the Polaris Institute.

 

 

 

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