Green Climate Fund seeks UN-style diplomatic immunity

(FOX News) - The Green Climate Fund, which is supposed to help mobilize as much as $100 billion a year to lower global greenhouse gases, is seeking a broad blanket of UN-style immunity that would shield its operations from any kind of legal process, including civil and criminal prosecution, in the countries where it operates.

There is just one problem: it is not part of the United Nations.

Whether the fund, which was formally created at a UN climate conference in Durban, South Africa last December, will get all the money it wants to spend is open to question in an era of economic slowdown and fiscal austerity.

Its spending goal comes atop some $30 billion in "fast start-up" money that has been pledged by UN member states to such climate change activities.

A 24-nation interim board of trustees for the Green Climate Fund (GCF) is slated to hold its first meeting next month in Switzerland to organize the fund's secretariat and to get it running by November, as well as find a permanent home for the GCF's operations.

The board expects to spend about $6.7 million between now and June of next year. Read More