TAILIEUCHUNG - UK Fast Start Climate Change Finance

We are aiming to create new partnerships with the private sector to increase green investments. The aim is to demonstrate to major private sector investors that climate friendly investments are financially viable. In particular we are working on two partnerships with the private sector for climate-friendly funds. We and other public sector players will consider investing in these funds alongside private pension and sovereign wealth funds. The funds will invest directly in renewable energy projects, and also in sub-funds to support investments in, for example: energy efficiency, renewable energy, clean tech inventions, forestry, public transport, urban development and waste treatment | Department for I H 111 International I I Development DE 4HTMENT 01- CLIMAT CHANGE defra Department for Environment Food and Rural Affairs UK Fast Start Climate Change Finance Providing help to the poorest to adapt to climate change and promoting cleaner greener growth Delivering finance The UK Government is committed to helping developing countries carry out the urgent work needed to adapt to climate change and develop in a low carbon way including reducing emissions from deforestation. We are supporting ambitious global action on climate change. The UK Government is providing billion approximately billion in Fast Start finance for climate change from 2010 to 2012. Fast Start is a commitment made by developed countries at the UN Conference on Climate Change in Copenhagen to provide new and additional resources approaching 30 billion to help meet the adaptation and mitigation needs of developing countries. Fast Start finance is helping to prepare for the long-term goal of developed countries mobilising 100 billion a year for climate change by 2020 from a variety of sources. Fast Start supports preparations for the effective use of scaled-up financial flows and the implementation of climate policies in developing countries. The UK pledge has been confirmed in the UK Government s four-yearly Spending Review which set a budget of billion for climate finance for the period 2011-12 to 2014-15 known as the International Climate Fund ICF . The ICF commits UK climate finance for two years beyond the Fast Start period. UK Fast Start finance is already flowing To date a total of 1 056 million has been approved for or spent on specific multilateral and bilateral programmes 569 million in 2010 and 487 million in 2011 . This is over two-thirds of our pledge. We are providing further climate-related support through the UK aid programme in addition to Fast Start. Track record on climate finance The UK is the biggest EU donor to Fast Start The UK is the biggest donor .

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