DUBAI- The Philippines has been elected to co-chair the $100 billion UN Green Climate Fund that is envisioned to help developing countries adapt to the impact of climate change.
Albay Governor Joey Salceda was elected as co-chair of the Board of the Green Climate Fund during their meeting in Paris in early October.
“Governor Salceda’s election is a strong expression of confidence in the Philippines and further raises the country’s profile in the international community,” said a statement issued by the Philippine government.
Germany is the other co-chairman of the Fund, which was established by the Conference of the Parties to the United Nations Framework Convention on Climate Change in December 2011.
The two countries will act as co-chairman for a term of one year, overseeing the operation of the Fund, which is targeted to start operation in 2014. Based on pledges, the Fund would reach $100 billion by 2020.
Climate change, which involves changes in weather patterns and rise in sea level, is a major issue that concerns all nations because of its huge impact on every aspect of human life and economy. Threats from climate change range from killer tornadoes and massive storms to uncontrolled wildfires to droughts and floods that undermine food security.
Particularly benefiting from the fund are developing countries including Small Developing Island States, Africa and least developed countries, and highly vulnerable communities in countries such as the Philippines, Indonesia, and Bangladesh.
