Fast-start adaptation funding: keeping promises from Copenhagen
The most concrete commitment to come out of the international climate negotiations in Copenhagen was US$30 billion dollars in ‘fast-start climate finance’ to developing countries, with balanced support for both mitigation and adaptation. Fast-start adaptation finance, in particular, is crucial for poor countries facing rapid climate change. But so far, pledges for adaptation from developed countries have been inadequate and unclear.
This briefing outlines ways for the Cancun negotiations to address five crucial issues for adaptation finance:~(1) the amount and type of funding being offered~(2) the definition of adaptation~(3) global oversight and accounting~(4) a clear baseline and transparent spending~(5) the channel for delivering funds.