Opinion Survey on Cancun Climate Talks: Finding 1

  • Post Copenhagen, developed nations have failed to keep financial commitments.

The Copenhagen Accord notes developed countries’ commitment to providing developing countries with fast start finance approaching USD 30 billion for the 2010-2012 period, for enhanced action on mitigation (including Reducing Emissions from Deforestation and Forest Degradation, REDD), adaptation, technology development and transfer, and capacity building. The first is a “fast-start” investment of US $ 30 billion over three years, the other is a long-term commitment of US $ 100 billion per year by 2020. Countries that supported the Accord agreed that the funding would be “new and additional” and would come from a “wide variety of sources”, including public and private, bilateral and multilateral, and alternative sources.

“Fast start finance is a central key to unlock the door to success in Cancún,” said Christiana Figueres, Executive Secretary of the UN Framework Convention on Climate Change.

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