New and Additional? Fast-start finance commitments of the Copenhagen Accord

The updated and expanded version of our discussion-paper on fast-start finance commitments provides an assessment of fast start pledges looking at a broad range of definitions of “new and additional” funding.

Date2010, December 03

The analysis shows that each definition would allow for a different interpretation of the overall volume of funding committed so far. By applying lessons-leant from the 2001 Bonn Agreement – a precedent for a political commitment – the paper concludes that a common reporting format and agreement about key criteria and channels used would benefit the fast-start finance initiative and help tap its full potential to rebuild trust between countries. The range of definitions reviewed could provide a basis for discussion to find a middle ground that addresses developing countries concern that funding not be diverted from existing aid projects and acknowledges countries that undertook efforts on an early basis and/or provide funding generated from new and innovative public sources of finance.