Mobilizing International Climate Finance: Lessons From the Fast-Start Finance Period

Mobilizing International Climate Finance: Lessons From the Fast-Start Finance Period

Between 2010 and 2012, Germany, Japan, Norway, the United Kingdom, and the United States supplied nearly 80 percent of the financing for climate change adaptation and mitigation efforts in developing countries under the United Nations Framework Convention on Climate Change, a report from the Open Climate Network, World Resources Institute, Overseas Development Institute, and Institute for Global Environmental Strategies finds. The report, Mobilizing International Climate Finance: Lessons From the Fast-Start Finance Period (66 pages, PDF), found that thirty-seven countries reported a total of $35 billion in climate financing, including $22.1 billion for mitigation measures such as addressing greenhouse gas emissions and $5 billion for adaptation initiatives. Loans, guarantees, and insurance accounted for 48 percent of total financing. Funded by the UK Department for International Development and the Japanese Ministry of the Environment, the report calls for scaling climate financing; aligning policy, regulations, and governance with climate-resilient development; and greater transparency around climate financing efforts.