In order to scale up the provision of long-term financing for developing countries, Governments at COP 16 in Cancun decided to establish a Green Climate Fund. The fund will support projects, programmes, policies and other activities in developing country Parties using thematic funding windows. A Transitional Committee selected by Parties to the UNFCCC will design the details of the new fund, which will be designated as an operating entity of the financial mechanism of the Convention and will be accountable to the COP.
The objective of the Cancun Adaptation Framework is to enhance action on adaptation, including through international cooperation and coherent consideration of matters relating to adaptation under the Convention. Ultimately enhanced action on adaptation seeks to reduce vulnerability and build resilience in developing country Parties, taking into account the urgent and immediate needs of those developing countries that are particularly vulnerable.
Fast-start finance
Fast start finance refers to new and additional resources that developed country Parties pledged to mobilize through international institutions, approaching USD 30 billion for the period 2010 - 2012. Mitigation and adaptation should receive a balanced allocation of fast start finance, and funding for adaptation is expected to be prioritized for the most vulnerable developing countries, such as the least developed countries, small island developing States and Africa. The COP invited developed country Parties to provide information on their efforts to achieve this goal and on how developing country Parties can access these resources.
Forest Management Reference Levels
The Conference of the Parties serving as the meeting of the Parties to the Kyoto Protocol (CMP) at its sixth session requested each Annex I Party to submit to the secretariat information on the forest management reference level (FMRL). The CMP also decided that each submission shall be subject to a technical assessment, the outcomes of which are to be considered by the CMP at its seventh session. More
