New and Additional? An assessment of fast-start finance commitments of the Copenhagen Accord
In Copenhagen at COP15 in December 2009 developed countries committed to provide “new and additional” fast-start financial resources approaching billion for the period 2010–2012. This new study looks at what “new and additional” means, and whether or not what countries have put forward for fast start climate finance meets this test.
If there is no “new and additional” requirement the total fast start pledges so far add up to billion.
The report shows that if funds that are “new and additional” to official development assistance (above ODA) are counted as fast start then the amount committed so far is only billion. If a less restrictive definition of “new and additional” is used – funds are new and additional if promised after COP15 – the commitments would amount to about billion.