In the Spending Review 2010, the coalition Government established the International Climate Fund (ICF) to help developing countries tackle climate change and reduce poverty. The ICF will provide £2.9 billion of climate finance between 2011 and 2015. Funding for the ICF is provided by the Department for International Development (DfID) (£1.8 billion), the Department for Energy and Climate Change (£1 billion) and the Department for Environment, Food and Rural Affairs (£100 million with respect to forestry). Ministers have agreed that the ICF will aim for a balanced allocation between adaptation (50%), low-carbon development/mitigation (30%) and forestry (20%). This will be kept under review.
In advance of the meeting of the conference of the parties (COP) to the UN Framework Convention on Climate Change in Durban, South Africa in November-December 2011, the UK Government published their progress report on meeting their Fast Start finance commitment to provide £1.5 billion in climate finance to developing countries in the period 2010-12. The ICF fully funds the UK Fast Start finance commitments in 2011 and 2012. The report is available on the DfID website at www.dfid.gov.uk. As of November 2011, total UK Fast Start spend and commitments totalled £1.056 billion, of which £379.94 million was for adaptation and £406.25 million was for low carbon development and mitigation.
The UK Government will publish their 2012 Fast Start report for the next COP meeting in Qatar at the end of this year.