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MANILA, Philippines – The Transitional Committee of the United Nations Framework Convention on Climate Change (UNFCCC) held its third meeting this week, in Geneva Switzerland. Two key concerns raised by civil society observers who were given a chance to take the floor and deliver statements were on the role of the World Bank in the Green Climate Fund (GCF) and the GCF's engagement with the private sector.

One of the major decisions of the Cancun meeting of the Conference on Parties (COP) of the UNFCCC last December 2010 was to establish the Green Climate Fund. Hundreds of billions of dollars in climate finance are needed by developing countries annually to cover the cost of climate adaptation and mitigation programs. The Climate Convention points to the obligation of developed countries to provide this finance because of their historical responsibility for causing the climate crisis. The GCF is the international institution that will be responsible for the management and disbursement of this climate finance. The Transitional Committee was formed to prepare the proposed design of the GCF, to be approved in the next COP which will be held in Durban, South Africa in December 2011.

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(This statement was delivered by Lidy Nacpil of JSAPMDD.)

On the question of engagement with the private sector, we urge the members of the Transitional Committee to proceed with great caution.

Private sector participation is best decided, managed, regulated and incentivized at the national level, according to national strategies that were identified through the participation of people who are most impacted by climate change.

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Note: This letter is also available in French and Spanish. You may also view the endorsers of this letter.

Dear Members of the Transitional Committee,

In establishing the Green Climate Fund (GCF), you are tasked with designing an institution that makes the most effective use of climate finance for developing countries.

The core contributions to the GCF should be predictable, additional and public. To ensure that such money supports a country-driven approach its use should be determined by developing countries, informed by sovereign, participatory planning processes. The GCF should not channel money directly to multinational investors and corporations or through financial intermediaries, which would be incompatible with this goal.

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With all this talk of budget deficits and cutting programs for those in need (while unjustly keeping in place tax breaks for corporations and the wealthy), you would think that the Obama administration and Congress would want to make sure that the money they do spend is spent wisely. Well, that's not always the case, and it certainly doesn't appear to be the case when it comes to the World Bank Group.

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Jubilee South Asia Pacific Movement on Debt and Development (JSAPMDD) Regional Coordinator Lidy Nacpil delivered a one-minute intervention during the Opening Plenary of the Ad Hoc Working Group on Further Commitments for Annex 1 Countries under the Kyoto Protocol (AWG-KP) of the United Nations Framework Convention on Climate Change (UNFCCC) Intersessionals in Bonn, Germany on June 7, 2011. The speech is as follows: