Updated November 2012
In December 2009, President Obama and heads of state from around the world met in Copenhagen at the 15th Conference of the Parties to the United Nations Framework Convention on Climate Change. The resulting Copenhagen Accord committed developed countries to collectively provide resources approaching $30 billion in the period 2010-2012 to support developing countries in their efforts to adapt to and mitigate climate change. This “fast start” finance commitment was carried forward in decisions of the 16th Conference of the Parties in Cancun in December 2010.
In accordance with the fast start commitment made in Copenhagen, the United States has provided $7.5 billion during the three-year fast start finance period. Of this amount, $2.3 billion was provided in FY 2012. The three-year fast start finance total consists of more than $4.7 billion of Congressionally appropriated assistance and more than $2.7 billion from U.S. development finance and export credit agencies.
As part of its commitment to transparent reporting on Fast Start Finance, the United States has prepared annual summaries of U.S. Climate Finance in Fiscal Years 2010, 2011, and 2012. Individual country reports for 2012 are forthcoming, however the report is available in its entirety as well as the executive summary.