The world’s major bilateral donors continue to invest in climate change programming, primarily to comply with the U.N. Framework Convention on Climate Change $30 billion Fast Start Finance mechanism for enhanced action on mitigation, adaptation, REDD+, technology development and transfer and capacity building.
The chart above and corresponding analysis shed light on the financial commitments and operational activities of leading climate change donors for the period of 2010-2012.
As the top financier of climate change initiatives, Japan disbursed half of its pledge of $15 billion in 2010 to support assistance to areas in mitigation, adaptation, and reducing greenhouse gas emissions from deforestation and forest degradation, or REDD+. Japan’s mitigation projects are focused on reducing emissions and promoting climate change policy through renewable energy in solar, wind and geothermal power, which amounted to $6.2 billion in 2010 and $3.1 billion in 2011 last year. In line with its mitigation projects, Japan’s REDD+ program delivered $577 million in climate change efforts on least developed countries and small island developing states. Adaptation efforts to aid and rehabilitate countries in order to cope with climate change amounted to $1.5 billion for the same period, while another $1.5 billion was invested in climate investment funds and other initiatives.