The present study, conducted by Germanwatch in cooperation with the World Resources Institute (WRI) and the Overseas Development Institute (ODI), provides a comprehensive in-depth analysis of the German Fast-Start Finance contribution for the period 2010-2012: What has been counted towards FSF? Via which bi- and multilateral channels have the funds been disbursed? Which thematic area has been focused on (mitigation, adaptation, REDD)? What regions have been prioritized? In addition to this descriptive approach, the study also provides guidance for political decision-makers by formulating recommendations for improving transparency and efficiency of international climate finance.