Developed country governments have repeatedly committed to provide new and additional finance to help developing countries transition to low-carbon and climate-resilient growth.

This assessment considers U.S. efforts to provide 'fast start finance' (FSF) in fiscal years 2010 and 2011 in the context of the pledge by developed countries to mobilize $30 billion from 2010 to 2012 under the United Nations Framework Convention on Climate Change (UNFCCC). It is part of a series scrutinizing how developed countries are defining, delivering, and reporting FSF.

Given the size of its economy and its historic responsibility as a top emitter of greenhouse gases, the United States has a major role to play in delivering FSF. Key conclusions are:

• The U.S. FSF contribution of $5.1m reflects a positive effort made in challenging political and economic circumstances, but there is more to be done. 
• The US does not count private finance toward its FSF contribution, but it does count non-grant instruments as well as development assistance.
• While the FSF contribution reflects some new effort to address climate change, it is unclear that the contribution as a whole can be considered "new and additional."
• There is a need for additional transparency and harmonization in reporting.