fast start finance
25 November 12
After a year of extreme weather, developing countries face a climate ‘fiscal cliff’ at the end of 2012, as Fast Start Finance expires and the Green Climate Fund remains empty.
New Oxfam analysis of Fast Start Finance reveals much of it has been a false start. Governments have not delivered on commitments made in Copenhagen to ensure the funding was new, additional and balanced across adaptation and mitigation projects.
Developed nations must scale up climate finance from 2013, consider innovative proposals to raise public climate finance, and make pledges to the Green Climate Fund that otherwise will remain an empty shell for the third year in a row.