By Rhaydz B. Barcia
LEGAZPI CITY, July 4 (PNA) — The Philippines, through the provincial government of Albay, will be hosting the 2nd Contributors’ Meeting of the Initial Resource Mobilization process of the United Nations Green Climate Fund in September here, GCF chair and Albay Governor Joey Salceda said Friday.
Salceda, who also serves as the Regional Development Council chair in Bicol, was in Oslo, Norway, early this week for the 1st Contributors’ Meeting of the Initial Resource Mobilization process where the Norwegian government pledged US 1 billion for the operationalization of the GCF.
He said the US$ 1-billion is the first-ever commitment despite of too much skepticism among donor nations.
During the meeting, the Albay governor said at least 25 countries showed interest to be contributors to the GCF.
Wealthy countries have committed US$ 100 billion for the operationalization of the GCF, which intends to finance international programs to help the vulnerable countries adapt to the changing climate, Salceda added.
This year, he said, he is targeting US$ 15 billion worth of pledges for GCF.
The GCF chair said he will ensure that funds would be available and operational this year to address positive changes in the lives of the vulnerable communities in developing nations affected by climatic change.
Salceda said the GCF’s target is to reduce carbon emission, which is largely blamed to developed countries for emitting to much green house gases that trigger extreme change.
The extreme climate is badly affecting developing countries with less capacity to adapt against the adverse impact of global warming that triggers stronger natural calamities, specifically in the Philippines.
“Developing countries stand to benefit from the UNGCF by initiating a paradigm shift toward low-emission and climate-resilient development in adapting to climate change,” he said.
The GCF was established by the conference of the parties to the United Nations Framework Convention on Climate Change in December 2011. (PNA)