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As the reporting deadline for 2010 looms, developed countries will need to prove that they are honestly meeting their modest $30 billion commitment.

Today, WRI releases an updated summary of developed countries’ “fast start” climate finance pledges. These funds are intended to help developing countries reduce emissions and adapt to climate change from 2010-2012.

To date, 21 developed countries and the European Commission have publically announced individual fast-start finance pledges totaling nearly USD 28 billion to meet the USD 30 billion commitment in the 2009 Copenhagen Accord.

The UNFCCC Cancun Agreements of December 2010 marked an important step forward for transparency of country actions to respond to climate change. In addition to creating a new standard for the way countries report on their national climate commitments and actions, the agreements mandated advances in the reporting and review of countries’ climate finance contributions.

Innovation and Technology Transfer

Supporting Low Carbon Development with Climate Finance

This paper was prepared as a conference paper for the New York University / United Arab Emirates Ministry of Foreign Affairs Workshop on Climate Finance hosted in Abu Dhabi on January 22-23, 2011.


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