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Have developed countries met their fast-start finance pledge?

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Have developed countries met their fast-start finance pledge?

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Based on our research, pledges publicly announced by developed countries thus far total USD 27.9 billion.1 While this represents a significant step in the right direction, developed countries still have much to do in meeting their Copenhagen fast-start pledge. The Accord mandates that fast-start funds have a “balanced allocation between adaptation and mitigation,” are “new and additional,” are “prioritized for the most vulnerable developing countries, such as the least developed countries, small island developing States and Africa,” and include “investments through international institutions.” While the Copenhagen Accord was not formally adopted by the Conference of the Parties, these criteria and others are often echoed in Party positions to the UNFCCC as well as in the negotiating text. It is not clear that developed countries’ fast-start finance contributions fulfill these criteria. In addition to meeting these criteria, next steps for developed countries include ensuring that their

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