Talks on Green Climate Fund postponed

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The first meeting to set up the terms of reference (TOR) of the much-talked-about Green Climate Fund has been postponed, reports BSS. The meeting scheduled to be held in Mexico on March 14, has been postponed as the negotiating groups are yet to select their delegates for the Transitional Committee, sources in the UN Framework Convention on Climate Change (UNFCCC) Friday said. The Cancun conference agreed to establish the GCF to raise $100 billion per year by 2020 to help poor countries fight climate change and adapt to its inevitable consequences. The task of drawing up the fund's TOR has been entrusted with a Transitional Committee comprising 25 members from developing and 15 members from developed countries. UN Official said groups of Asian, Latin American and Caribbean countries are yet to decide who will attend the committee. Latin American and Caribbean countries said they will need middle of March to select their seven delegates in the committee while the Asian group has announced that it will be unable to pick its seven delegates before April, the official said.