(Bonn, 18 November 2011) – With the help of a new online portal launched by the secretariat of the UN Framework Convention on Climate Change (UNFCCC) today, the efforts of developed countries to financially support developing countries’ efforts to reduce greenhouse gas emissions and adapt to the inevitable effects of climate change have been made more visible and transparent.
Via the UNFCCC website, governments, institutions and interested persons can access information on fast-start finance to respond to climate change. Fast-start finance refers to the USD 30 billion that developed countries promised to provide to developing countries in the period 2010 to 2012, particularly to the poorest and most vulnerable.
Their pledge was reiterated at the UN Climate Change Conference in Cancun, Mexico, at the end of last year.
“When governments meet in ten days time for the UN Climate Change Conference in Durban, it is important that they understand the extent to which climate finance has been provided by developed countries,” said UNFCCC Executive Secretary Christiana Figueres. “This information is key to understand how and where the finance is being provided, and by whom. It allows for transparency and trust-building among governments on the fulfilment of financial commitments and the projects supported by the funds which benefit people in developing countries,” she added.
The UN Climate Change Conference in Durban (28 November to 9 December 2011) will both take stock of how existing pledges have been disbursed, and will work to launch the Green Climate Fund agreed in Cancun at the end of 2010. The Green Climate Fund was established to support climate change projects and programmes of developing countries.
“There are important lessons that can be drawn from fast-start finance both in the delivery of long-term finance and the monitoring, reporting and verification of support,” Ms. Figueres said “Governments now need to indicate scaling up of finance beyond 2012,” said Christiana Figueres
More information on fast-start climate finance, also on funds administered by the Global Environmental Facility, will be made available in the course of the UN Climate Change Conference in Durban via the Finance Portal web page.
About the UNFCCC
With 195 Parties, the United Nations Framework Convention on Climate Change (UNFCCC) has near universal membership and is the parent treaty of the 1997 Kyoto Protocol. The Kyoto Protocol has been ratified by 193 of the UNFCCC Parties. Under the Protocol, 37 States, consisting of highly industrialized countries and countries undergoing the process of transition to a market economy, have legally binding emission limitation and reduction commitments. The ultimate objective of both treaties is to stabilize greenhouse gas concentrations in the atmosphere at a level that will prevent dangerous human interference with the climate system.
See also: unfccc.int
Follow UNFCCC on Twitter: @UN_ClimateTalks
UNFCCC Executive Secretary Christiana Figueres on Twitter: @CFigueres
UNFCCC on Facebook: facebook.com/UNClimateTalks