(Durban, 6 Dec 2011) As a new text on the Green Climate Fund is released today at COP17, ActionAid’s Climate Finance Expert Ilana Solomon is available for comment on:
How the text could help poor nations have greater autonomy when spending climate cash?
Which loopholes still need to be closed?
How big a role will and should big business have?
Ilana Solomon says:
“The new text is a step in the right direction, but many unresolved issues must still be addressed.
“It’s encouraging that negotiators have reinforced the need for poor countries to be in the driving seat when spending climate cash. But if big business is allowed free reign over and above the authority of poor governments, the Green Climate Fund will be heading for a crash.
“Poor countries, who are leading by example in adapting to climate shocks, know how to spend climate cash best”.
ActionAid is an international poverty organisation working with poor people and governments in over 50 countries to tackle the impacts of climate change and hunger.
