Green Climate Fund likely to be launched in Durban

Climate change negotiators in the Durban climate conference are still working on finding a breakthrough on the Kyoto Protocol's second commitment and oprationalization of the Green Climate Fund (GCF), COP17 President Maite Nkoana-Mashabane told journalist Friday.

The official said parties are hopeful that the GCF will be launched before the end of the conference.

COP17 President Maite Nkoana-Mashabane [File photo]

"We are counting down the hours before the conference comes to an end, and we know the world out there is waiting with anticipation for the outcomes of this conference. Parties are looking at convergences, guided by trust and sprit of give and take," Nkoana-Mashabane said.

"At the moment there are various options that the parties are considering in relation to, the issue of the second commitment period of the Kyoto protocol and the future process as well as long-term finance with specific reference to the oprationalization of the Green Climate Fund. Parties are expressing the hope that green climate fund can be launched here in Durban," the official added.

According to Nkoana-Mashabane, various groups, including the Association of Small Island States (AOSIS), the Least Developed Countries (LDCs), the European Union (EU) and Africa Group are moving towards common ground and various aspects of the negotiations and "other parties are coming on board."

"Despite these positive sentiments we are still not yet there yet," Nkoana-Mashabane told journalists.

"We have limited time within which to conclude the negotiations, " she said. "We remain hopeful that we can make further progress with this limited period," she added with just few hours left before the world sees an end of the COP17.

Nkoana-Mashabane said consultations are on-going regarding both the Technology Mechanism and the Adaptation Framework aimed at "promoting climate friendly and adaptation related technologies."

"The negotiations are continuing within the UNFCC Party driven principal which is based on transparency and inclusiveness with the focus on addressing both the now and future aspects of climate change," the COP17 president said.

Negotiators are rounding up their talks behind closed doors and results are expected before the end of the day.