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Advisory Group on Climate Change Financing selected

arton2145.jpgOn 4 March the 19 members for UN Secretary-General Ban Ki-moon’s High-level Advisory Group on Climate Change Financing were announced, and include philanthropist George Soros and prominent British academic Nicholas Stern.

The Advisory Group on Climate Change Financing was launched by the UN Secretary-General in February as a response to the “Copenhagen Accord,” that was taken note of at the Climate Change Negotiations held in Copenhagen in December 2009. This Accord pledges $30 billion a year for poor countries to adapt to climate change until 2012, and $100 billion a year by 2020.

As such, the Advisory Group has the mandate to come up with proposals to mobilize short- and long-term financing for mitigation and adaptation strategies in developing countries and to help developing countries combat climate change. These proposals will be presented in a final report to the Secretary-General before the next conference of parties to the UN Framework Convention on Climate Change (UNFCCC) in Mexico in December.

The members of the Advisory Group, headed by the Prime Ministers of the United Kingdom and Ethiopia, Gordon Brown and Meles Zenawi, are chosen on the basis of an even balanced representation between developing and developed countries and include senior ministers and officials from central banks and experts on finance and development.

It is expected to hold its first meeting on 29 March in London.

To read the full press release, click here.

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