Climate talks taking place now in Durban, South Africa would appear to be having a positive outcome on the development of a Green Climate Fund, a pool of money from wealthier nations designed to help poorer nations fight emissions and, as a result, man-made climate change. The wealthier nations of the world have reportedly pledged about $100 billion a year by 2020 to assist developing nations affected by rising global temperatures to adapt their economies and protect themselves from adverse weather.
The Green Climate Fund details are currently being hashed out by a Transitional Committee that was set up to create a framework for the fund, determining the mechanisms by which funds would be collected and disbursed.
But critics say the details just aren't in place yet: as of yet, there is no agreement on where the actual funds will come from and how the money will be spent, reports Reuters (News 
- Alert).
Nevertheless, the U.S.'s envoy at the event remains positive about the group's accomplishments.
“I have a fair amount of confidence this is going to get done in a positive way,” U.S. envoy Todd Stern told reporters today. Only a few technical operational details remained to be thrashed out, he said.
Certain countries and regions have voiced concerns about the current direction of the Green Climate Fund. China has reportedly said that the fund must be set up before it will make its domestic climate efforts binding under an international agreement from 2020, reports Reuters.
South American nations, which had initially objected to certain recommendations of the Transitional Committee, seem closer to an agreement.
“It is our priority to have the fund adopted and functional in South Africa,” Brazilian climate envoy Luiz Alberto Figueiredo told Reuters.
Tracey Schelmetic is a contributing editor for TMCnet. To read more of Tracey's articles, please visit her columnist page.Edited by
Jennifer Russell
