Copenhagen Accord

Event/initiative: 
Date of commitment: 
December 2009

Commitment

Developed countries agreed to scaled-up, new and additional, predictable and adequate funding and to the provision of improved access to developing countries to enable and support enhanced action on mitigation, adaptation, technology development and transfer; and committed to approximately $30 billion in new and additional resources for the period 2010-2012 and to mobilizing $100 billion per year by 2020 to address the needs of developing countries.

Target

  • $30 billion in new and additional resources for 2010-2012
  • $100 billion per year by 2020 to address the needs of developing countries

Progress

  • Current information on financing needs for mitigation and adaptation to climate change in developing countries is limited.
  • More progress was made towards providing long-term finance for developing countries at the Doha Climate Change conference in 2012.

Gap

An estimated additional $105-$402 billion per year needed in developing countries for mitigation technologies.

Additionality

New and additional funding.

Data source: 
UNFCCC