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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.
Developed countries have collectively pledged USD 30 billion from 2010-2012 to support developing countries’ climate efforts. This pledge, known as “fast-start finance,” was initially made in Copenhagen in 2009, and reiterated in the 2010 Cancun Agreements.
WRI aims to highlight the best proposals for the institutional design of an international climate change regime. This project is a joint endeavor of the World Resources Institute (WRI) and the United Nations Environment Programme (UNEP), with the support of the Government of Ireland.
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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This report seeks to ground the debate on climate finance in an objective analysis of ongoing efforts to finance mitigation and adaptation in developing countries.