News article

UK exceeds commitment on fast start climate change finance

This world location news article was published under the 2010 to 2015 Conservative and Liberal Democrat coalition government

The UK has spent our Fast Start finance on a range of innovative climate projects.

26 June 2013

At the UN Conference on Climate Change in Copenhagen in 2009, developed countries committed to provide new and additional resources approaching $30 billion to help meet the adaptation and mitigation needs of developing countries. This is known as Fast Start finance. The UK Government committed to provide £1.5 billion (approx. $2.4 billion) to Fast Start finance from 2010 to 2012 in its efforts to support the world’s poorest countries to adapt to climate change and promote cleaner, greener growth.

The UK has exceeded this commitment and delivered £1.55 billion in Fast Start finance. This funding has supported developing countries to take urgent action on mitigation, including reducing emissions from deforestation and forest degradation (REDD+), adaptation, technology development and transfer and capacity building.

The UK has spent our Fast Start finance on a range of innovative climate projects. For example, up to £60 million from the International Climate Fund is committed to support countries, including South Africa, in developing the technical and institutional knowledge necessary to enable the deployment of Carbon Capture and Storage technologies.

For more information: UK Government Fast Start Finance brochure Visits Gov.UK website climate change pages