Nov. 15 (Bloomberg) -- The Green Climate Fund, which will distribute emissions-cutting money to developing countries, will tomorrow appoint Ajay Mathur as director, before United Nations negotiations begin another round on Nov. 26.
Mathur will start in a “bridging” role at least until a permanent executive director is appointed around the middle of next year, Richard Kinley, deputy executive secretary of the United Nations Framework Convention on Climate Change in Bonn, said today by phone. Mathur was previously director general of the Indian Bureau of Energy Efficiency in New Delhi, according to data compiled by Bloomberg.
UN climate talks have stalled partly as rich and poor nations debate their level of contribution to capital needed to cut emissions and adapt to global warming. The fund, set up to channel $100 billion in aid annually to emerging nations from richer countries by 2020, on Oct. 20 proposed its headquarters would be in Songdo, South Korea.
The organization, which has so far been run jointly by interim secretariats within the Global Environment Facility in Washington and the UNFCCC, has a staff of about six people, including part-time consultants, Kinley said. That would rise to about 12 “over the next few months,” he said.
Christiana Figueres, the UNFCCC executive secretary, and Naoko Ishii, chief executive officer and chairman of the GEF appointed Mathur, Kinley said.
The European Union has provided 7.1 billion euros ($9.1 billion) in “fast-start” climate funding for poorer countries between 2010 and 2012, according to a statement published Nov. 13 by finance ministers from the 27 member countries. The ministers said the Green Climate Fund should quickly become operational.
The fund was proposed in 2010 and established in December at the last round of UN climate-treaty talks in Durban, South Africa, to distribute some of the aid pledged by developed nations to poorer countries during previous sessions. Projects to be financed include reducing greenhouse gases from energy production and adapting countries to the effects of global warming, such as rising sea levels.
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