15 April 2011: Parties to the UNFCCC have selected the 40 members of the Transitional Committee that will be in charge of designing the Green Climate Fund, the new institution agreed upon in Cancun that will manage long-term finance mobilized to enable developing countries to address climate change.

The Transitional Committee will prepare operational specifications for the Fund in time for approval by the 17th session of the Conference of the Parties (COP 17) to the UNFCCC in Durban, South Africa, at the end of 2011. The composition includes seven members from Africa, seven from Asia, seven from Latin America and the Caribbean, fifteen from developed countries, two from least developed countries and two from small island developing States.

Commenting on the design process of the Transitional Committee, Christian Figueres, UNFCCC Executive Secretary, underscored the importance of “transparent, predictable and adequate provision of finance in the long-term … to ensure that the poor and vulnerable can build themselves a sustainable future in the face of climate change.”

The Transitional Committee will hold its first meeting in Mexico City, Mexico, from 28-29 April 2011. The meeting will be open to observers and the proceedings will be webcast on the UNFCCC website. [List of Members of the Transitional Committee] [UNFCCC Press Release]