• All Share : 49299.92
    DOWN -0.07%
    Top 40 : 4029.04
    DOWN -0.62%
    Financial 15 : 14336.27
    UP 0.50%
    Industrial 25 : 58455.68
    UP 0.14%

  • ZAR/USD : 11.2893
    UP 0.09%
    ZAR/GBP : 18.2660
    DOWN -0.09%
    ZAR/EUR : 14.2118
    DOWN -0.22%
    ZAR/JPY : 0.1026
    DOWN -0.22%
    ZAR/AUD : 9.8101
    DOWN -0.55%

  • Gold : 1209.2700
    UP 0.06%
    Platinum : 1271.5000
    DOWN -1.81%
    Silver : 17.0500
    UP 0.47%
    Palladium : 769.5000
    UP 0.07%
    Brent Crude Oil : 94.920
    UP 0.26%

  • All data is delayed by 15 min. Data supplied by INET BFA
    Hover cursor over this ticker to pause.

Wed Oct 01 14:28:57 SAST 2014

We are on track for Green Climate Fund: Molewa

Sapa | 30 November, 2011 17:47
Minister of the Environment and Water Affairs Edna Molewa. File photo.

Negotiations at Cop17 on the Green Climate Fund are not about to fall apart, Environment Minister Edna Molewa said on Wednesday.

"We are still confident we are on track to [make operational] the Green Climate Fund," she told reporters at the climate summit in Durban.

Responding to questions, she said the "sources of funds aspect" of the climate fund had not yet been dealt with in the negotiations, and suggested this would carry over to Cop18.

"The discussion on sources of funds still needs to take place, and by Cop18 we should have some progress," she said.

What was being brought into operation was a "shell" climate fund, she said.

The Green Climate Fund was agreed to at Cop16 in Cancun, Mexico last year. It aims to provide US100 billion (about R816 billion) to poorer countries by 2020 to help them cope with carbon emissions and adapt to climate change.

Molewa said the South African delegation, which she heads, remained engaged in the negotiations.

She warned against making too much of some pronouncements by countries on issues as it was still very early and "negotiations have just begun".

By the end of the week, a clearer picture would emerge.

"Things are going smoothly; we are on track," Molewa said.

Objections to the $100 billion for the fund – which is to be provided by developed countries – were raised earlier this week by Canada and the US.

Both countries cited concerns about how the money would be raised.

Also at Wednesday's briefing, Science Minister Naledi Pandor gave details of several local technological innovations on display at the summit.

These included the home-grown Joule electric car, as well as ‘Gizmo’, a South African-developed pencil buoy used to study water quality.

SHARE YOUR OPINION

If you have an opinion you would like to share on this article, please send us an e-mail to the Times LIVE iLIVE team. In the mean time, click here to view the Times LIVE iLIVE section.
Wed Oct 01 14:28:57 SAST 2014 ::