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Jakarta Post

Govt calls for special body to disburse climate aid

  • Adianto P. Simamora

    The Jakarta Post

Jakarta   /   Wed, November 24 2010   /  11:24 am

Indonesia has high hopes prior to the upcoming Cancun climate talks of setting up a new fund body to start disbursing US$30 billion pledged by developed nations.Rich countries have vowed to provide the money within three years until 2012 to help developing nations mitigate and adapt to climate change.But a year after the pledge was made in Copenhagen in 2009, the mechanism remains unclear given the absence of an institution to deal with the money.“The issue of the new fund should be settled at Cancun [Mexico] since the deadline to disburse the money is only two years away,” climate change finance negotiator Ismid Hadad said.He said the new fund should be placed under the UN Framework Convention on Climate Change (UNFCCC) with the trustee elected through an open competitive bidding process.“The trustee could be a new private financing institution or multilateral banks and Global Env...