18 November 2011: The UNFCCC Secretariat has launched a new online portal to enable governments, institutions and interested persons to access information on fast-start finance for responding to climate change. The portal aims to make more visible and transparent the financial support provided by developed countries to developing countries to help them reduce greenhouse gas (GHG) emissions and adapt to climate change.

Fast-start finance refers to the US$30 billion that developed countries promised to provide to developing countries during the period 2010-2012, particularly to the poorest and most vulnerable. Underlining the importance of the information available on the financial gateway, UNFCCC Executive Secretary Christiana Figueres observed that “it allows for transparency and trust-building among governments on the fulfillment of financial commitments and the projects supported by the funds which benefit people in developing countries.”

The UN Climate Change Conference in Durban, which will take place from 28 November- 9 December 2011, will take stock of how existing pledges have been disbursed and will work to launch the Green Climate Fund, which was established to support climate change projects and programmes of developing countries. [UNFCCC Press Release] [UNFCCC Finance Portal]