Indigneous Peoples and the Green Climate Fund

Summary

The launch of the Green Climate Fund (GCF) was a concrete outcome of the 2011 UN Climate Change Conference in Durban. Parties approved a final decision on the relationship between the Green Climate Fund and the Conference of the Parties (COP) and adopted general agreements on the GCF Board, its specific funding windows and the role of the private sector. While 2012 will be dedicated to establishing the GCF, discussions have already started on issues such as the structure of this new global fund, its relationship with other environmental funds and the role of the GCF vis-a-vis existing multilateral and bilateral climate finance mechanisms. Key outstanding issues include the relationship of the GCF to the World Bank, what will happen to the ongoing climate finance initiatives, the availability of sufficient financial resources, and the role of the private sector. The next steps in GCF development will relate to its structure, the definition of stakeholder engagement modalities and the establishment of safeguards and compliance mechanisms. All these GCF issues pose significant challenges for Indigenous Peoples.