The Copenhagen Accord outlines a pledge by many developed countries “to provide new and additional resources, including forestry and investments through international institutions, approaching $30 billion for the period 2010 to 2012 with balanced allocation between adaptation and mitigation.”

 

The objective of the funds, referred to as 'fast start finance' is to help developing countries adapt to the impact of climate change and to pursue actions that put them on a low-carbon development pathway. These pledges have the potential to build trust between developed and developing countries in the international climate arena, which will enhance progress towards a comprehensive post-2012 international climate agreement.

 

The World Resources Institute (WRI) is currently tracking the FSF pledges based on countries responses announced so far. It also looks at whether these pledges will provide “new and additional” funds compared to what developed countries already provide through official development assistance. Most up to date pledges can be found here.