| Fast-start Finance |
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New For further information on Fast-start Finance click here to access the newly launched Fast-start Finance module in the Finance Portal. Background information During the Conference of the Parties (COP15) held in December 2009 in Copenhagen developed countries pledged to provide new and additional resources, including forestry and investments, approaching USD 30 billion for the period 2010 - 2012 and with balanced allocation between mitigation and adaptation. This collective commitment has come to be known as ‘fast-start finance’. Following up on this pledge, the Conference of the Parties in Cancún, in December 2010, took note of this collective commitment by developed country Parties and reaffirmed that funding for adaptation will be prioritized for the most vulnerable developing countries, such as the least developed countries, small island developing States and Africa.
Further, the COP invited developed country Parties to submit information on the resources provided to achieve
this goal, including ways in which developing country Parties access these resources by May 2011, 2012 and
2013.
At COP 17 Parties welcomed the fast-start finance provided by developed countries as part of their collective
commitment to provide new and additional resources approaching USD 30 billion for the period 2010–2012,
and noted the information provided by developed country Parties on the fast-start finance they have provided
and urged them to continue to enhance the transparency of their reporting on the fulfillment of their
fast-start finance commitments.
Information document 2011 Decision 1/CP.16, para.96 called for the Secretariat to compile the information submitted by developed country Parties on the resources provided into an information document. The information document for 2011 can be found here:
Finance Portal side event At COP 17, the UNFCCC secretariat, together with the Global Environment Facility (GEF), organized a side event to present the new finance portal of the UNFCCC website. One of the modules of the finance portal comprises of information submitted in 2011 by developed country Parties in relation to the implementation of their Fast-start Finance commitments. The web stream of this side event can be found here: Side event Finance PortalInformation event At the second part of the 14th Session of the AWG-LCA in June 2011 in Bonn the LCA Chair decided to organize an information event on fast-start finance in order to give Parties the opportunity to exchange information and their views on this subject, as well as to address questions related to the contents of the submissions received by the secretariat. Developed country Parties that had submitted their first fast-start finance reports by the time of this session participated in this event and provided presentations on their submissions. Some of these presentations can be found below:
Update 9 May 2012 *) Australia provided an update report to the UNFCCC secretariat in December 2011, some five months ahead of the official May 2012 reporting date. This report remains current. Australia will provide a subsequent update report at the end of our second fast-start year. To ensure that the report is as accurate as possible, it will be timed to take into account the conclusion of the Australian financial year, which will occur on 30 June 2012.
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Submissions received by the secretariat as at 13 May 2012 |
 Australia Progress
Report November 2011* (2214 kB)
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| Update submissions |
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Update submissions received by the secretariat as at 17 January 2012:
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| Submissions and Information Document 2011 |
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Information Document 2011:
Submissions received by the secretariat as at 30 June 2011:
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