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The system of debt continues to devastate the lives of people around the world. People in the South face the daily impacts and consequences of the financial indebtedness of their countries, which far from having been "relieved" is growing in step with the crisis and the pursuit of extraordinary profits by the most concentrated forms of capital. They continue also to bear the burden of the unpaid historical, social, ecological, and climate debts which are increasing as well to the rhythm of false solutions to the global crisis.

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Thank you Chairman. My name is Manny Calonzo and I am with Global Alliance for Incinerator Alternatives. We are a member of Climate Justice Now! – a global network of movements and organizations committed to the fight for social, ecological and gender justice.

We would like to thank the co-chairs and the secretariat for distributing this meeting's materials on the website. This is a good first step toward an inclusive design process; still, better transparency is needed if the work of the Transitional Committee is to be seen by the world as
legitimate. The Green Climate Fund (GCF) has to be transformational not only in how it raises resources and what it funds but also in the way it engages with and accounts to communities globally.

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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.