5 October, 2010

Assessment of progress made on fast-start finance commitments


Felix Fallasch and Laetitia De Marez

By simply summing up their communicated numbers, developed country Parties so far meet their collective commitment of USD 30 billion for the period 2010-2012. This result however is distorted as countries discretionally decide which funding is eligible to be counted as fast-start finance (FSF). Clarification on the notion of additionality will be needed to assess what is really delivered as fast-start finance.

To achieve a balanced allocation of funding between adaptation and mitigation, funding unallocated so far should be as a priority directed towards adaptation to level out existing imbalances. Also it will be necessary to provide more detailed information concerning bilateral funds to assure that priority is effectively given to support the most vulnerable countries.

A good interim channel to showcase such information is the new fast-start finance website sponsored by the Dutch Government where countries can display official numbers and accompanying information but this voluntary initiative is not a substitute for developing provisions and guidelines for a robust MRV system of long-term financing.