Fast-start Finance module in the Finance Portal
For further information on Fast-start Finance click here to access the 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 provided by developed countries, global corporations, banks, and private lenders, 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.
At COP 18, Parties acknowledged the delivery of Fast-start Finance by developed country Parties to fulfil their collective Fast-start Finance commitment, and invited developed country Parties to expedite its full disbursement.
Updates
Updates received by the secretariat as at 24 February 2014:
Australia's Fast-Start Climate Finance July 2010 - June 2013
Updates received by the secretariat as at 21 November 2012:
Australia Progress Report November 2011; Sweden; United States of America FY 2012
Information events
Information event 2013
During COP 19, a side event on "Fast-start Finance - lessons learned from 2010 to 2012" took place. The overall aim of the information event was to offer developed country Parties the opportunity to present information on their final fast-start finance (FSF), as well as for Parties to engage in in-depth discussions on important lessons learned during the FSF period.
Programme
IISD coverage
Video coverage
Canada European Union Japan Liechtenstein New Zealand Norway Switzerland United States of America
Information event 2012
This event gave developed country Parties the opportunity to present and discuss their latest data on fast-start finance. Overall aim was to increase the general transparency of fast-start finance activities and to facilitate lessons learned from fast-start finance.
Some of these presentations can be found below:
Australia Canada European Union Japan Norway United States of America
Finance Portal side event 2011
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 Portal
Information event 2011
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:
Australia Canada European Union Japan Norway Switzerland United States of America