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The Adaptation Fund is an international fund that finances projects and programs aimed at helping developing countries to adapt to the harmful effects of climate change. It is set up under the Kyoto Protocol of the United Nations Framework Convention on Climate Change (UNFCCC).
The Adaptation Fund was officially launched in 2007, [1] although it was established in 2001 at the 7th session of the Conference of the Parties (COP7) to the UNFCCC in Marrakech, Morocco [2] to finance concrete adaptation projects and programmes that reduce the adverse effects of climate change facing communities, countries, and sectors. It is intended to finance climate adaptation projects and programmes in developing countries that are parties to the Kyoto Protocol. [3]
The Adaptation Fund was initiated to be primarily financed by a share of proceeds from clean development mechanism (CDM) project activities and also with funds from other sources. However, the initial modest contribution of 131€ was made by students from Marienschule in Euskirchen, Germany, after a presentation about the climate crisis made to them by Stuart Scott, who had been attending an intercessional meeting of the negotiations. The ongoing share of CDM proceeds amounts to 2% of certified emission reductions (CER) issued for a CDM project activity. As of September 30, 2013, the Fund had accrued US$188.6 million in proceeds from CER sales. [4] As of November 30, 2013, the Fund had US$156 million available to allocate to climate adaptation projects. [5] By early November 2013, the Adaptation Fund Board (AFB) had allocated approximately US$200 million to support climate adaptation in 29 countries. [6] By October 2015, the Adaptation Fund had committed US$331 million in 54 countries. [7] Total contributions in 2022 amount US$1,237.8 million USD with Germany being the largest contributor (US$513.51 million). [8]
As the market for carbon credits plunged, other funding sources became more critical for the Adaptation Fund, and include donations from Annex 1 countries. These amounted to US$151 million as of Sept. 30, 2013. [9] In a major fundraising push, the AFB and secretariat surpassed its goal for pledged donations by the end of 2013, with over US$100 million pledged and donated by governments. [10]
The Adaptation Fund is managed by the Adaptation Fund Board (AFB). The secretariat of the Adaptation Fund Board provides research, advisory, administrative, and an array of other services to the Board, and consists of an international staff based in Washington, DC. [11] The World Bank serves as the trustee of the Adaptation Fund. The AFB is composed of 16 members and 16 alternates representing Annex I countries, Non-Annex I countries, Least Developed Countries (LDCs), Small Island Developing States (SIDSs), and regional constituencies. The AFB meets three times per year in Bonn, Germany. [12] The German Parliament has conferred legal capacity to the AFB. [13]
One unique feature of the Adaptation Fund is its direct access mechanism, [14] which enables accredited national implementing entities (NIEs) and regional implementing agencies (RIEs) in developing countries to directly access climate adaptation financing.
The Kyoto Protocol (Japanese: 京都議定書, Hepburn: Kyōto Giteisho) was an international treaty which extended the 1992 United Nations Framework Convention on Climate Change (UNFCCC) that commits state parties to reduce greenhouse gas emissions, based on the scientific consensus that global warming is occurring and that human-made CO2 emissions are driving it. The Kyoto Protocol was adopted in Kyoto, Japan, on 11 December 1997 and entered into force on 16 February 2005. There were 192 parties (Canada withdrew from the protocol, effective December 2012) to the Protocol in 2020.
The United Nations Framework Convention on Climate Change (UNFCCC) is the UN process for negotiating an agreement to limit dangerous climate change. Formally it is an international treaty among countries to combat "dangerous human interference with the climate system", in part by stabilizing greenhouse gas concentrations in the atmosphere. It was signed in 1992 by 154 states at the United Nations Conference on Environment and Development (UNCED), informally known as the Earth Summit, held in Rio de Janeiro. The treaty entered into force on 21 March 1994. "UNFCCC" is also the name of the Secretariat charged with supporting the operation of the convention, with offices on the UN Campus in Bonn, Germany.
The Clean Development Mechanism (CDM) is a United Nations-run carbon offset scheme allowing countries to fund greenhouse gas emissions-reducing projects in other countries and claim the saved emissions as part of their own efforts to meet international emissions targets. It is one of the three Flexible Mechanisms defined in the Kyoto Protocol. The CDM, defined in Article 12 of the Protocol, was intended to meet two objectives: (1) to assist non-Annex I countries achieve sustainable development and reduce their carbon footprints; and (2) to assist Annex I countries in achieving compliance with their emissions reduction commitments.
Flexible mechanisms, also sometimes known as Flexibility Mechanisms or Kyoto Mechanisms, refers to emissions trading, the Clean Development Mechanism and Joint Implementation. These are mechanisms defined under the Kyoto Protocol intended to lower the overall costs of achieving its emissions targets. These mechanisms enable Parties to achieve emission reductions or to remove carbon from the atmosphere cost-effectively in other countries. While the cost of limiting emissions varies considerably from region to region, the benefit for the atmosphere is in principle the same, wherever the action is taken.
Joint Implementation (JI) is one of three flexibility mechanisms set out in the Kyoto Protocol to help countries with binding greenhouse gas emissions targets meet their treaty obligations. Under Article 6, any Annex I country can invest in a project to reduce greenhouse gas emissions in any other Annex I country as an alternative to reducing emissions domestically. In this way countries can lower the costs of complying with their Kyoto targets by investing in projects where reducing emissions may be cheaper and applying the resulting Emission Reduction Units (ERUs) towards their commitment goal.
Certified emission reductions (CERs) originally designed a type of emissions unit issued by the Clean Development Mechanism (CDM) Executive Board for emission reductions achieved by CDM projects and verified by a DOE under the rules of the Kyoto Protocol.
Post-Kyoto negotiations refers to high level talks attempting to address global warming by limiting greenhouse gas emissions. Generally part of the United Nations Framework Convention on Climate Change (UNFCCC), these talks concern the period after the first "commitment period" of the Kyoto Protocol, which expired at the end of 2012. Negotiations have been mandated by the adoption of the Bali Road Map and Decision 1/CP.13.
After the 2007 United Nations Climate Change Conference held on the island of Bali in Indonesia in December 2007, the participating nations adopted the Bali Road Map as a two-year process working towards finalizing a binding agreement at the 2009 United Nations Climate Change Conference in Copenhagen, Denmark. The conference encompassed meetings of several bodies, including the 13th session of the Conference of the Parties to the United Nations Framework Convention on Climate Change and the third session of the Conference of the Parties serving as the meeting of the Parties to the Kyoto Protocol.
ecosecurities is a company specialized in carbon markets and greenhouse gas (GHG) mitigation projects worldwide. ecosecurities specializes in sourcing, developing and financing projects on renewable energy, energy efficiency, forestry and waste management with a positive environmental impact.
The 2010 United Nations Climate Change Conference was held in Cancún, Mexico, from 29 November to 10 December 2010. The conference is officially referred to as the 16th session of the Conference of the Parties (COP 16) to the United Nations Framework Convention on Climate Change (UNFCCC) and the 6th session of the Conference of the Parties serving as the meeting of the Parties (CMP 6) to the Kyoto Protocol. In addition, the two permanent subsidiary bodies of the UNFCCC — the Subsidiary Body for Scientific and Technological Advice (SBSTA) and the Subsidiary Body for Implementation (SBI) — held their 33rd sessions. The 2009 United Nations Climate Change Conference extended the mandates of the two temporary subsidiary bodies, the Ad Hoc Working Group on Further Commitments for Annex I Parties under the Kyoto Protocol (AWG-KP) and the Ad Hoc Working Group on Long-term Cooperative Action under the Convention (AWG-LCA), and they met as well.
The Kyoto Protocol was an international treaty which extended the 1992 United Nations Framework Convention on Climate Change. A number of governments across the world took a variety of actions.
The Kyoto Protocol was an international treaty which extended the 1992 United Nations Framework Convention on Climate Change.
Program of Activities (PoA) is a modality of project development under the Clean Development Mechanism (CDM) of the United Nations Framework Convention on Climate Change (UNFCCC).
Brazil has established a strong public policy using Clean Development Mechanism Projects to reduce methane emissions from landfills. An important component of these projects is the sale of avoided emissions by the private market to generate revenue.
The Green Climate Fund (GCF) is a fund established within the framework of the United Nations Framework Convention on Climate Change (UNFCCC) as an operating entity of the Financial Mechanism to assist developing countries in adaptation and mitigation practices to counter climate change. The GCF is based in Incheon, South Korea. It is governed by a Board of 24 members and supported by a Secretariat.
Climate finance is an umbrella term for funding investments in the area of climate change mitigation and adaptation. In a wider sense, the term refers to all financial flows relating to climate change mitigation and adaptation. In a narrower sense it only refers to transfers of public money from developed countries to developing countries. This would be in light of their obligations under the UN Climate Convention to provide new and additional financial resources.
The 2012 United Nations Climate Change Conference was the 18th yearly session of the Conference of the Parties (COP) to the 1992 United Nations Framework Convention on Climate Change (UNFCCC) and the 8th session of the Meeting of the Parties (CMP) to the 1997 Kyoto Protocol. The conference took place from Monday 26 November to Saturday 8 December 2012, at the Qatar National Convention Centre in Doha.
The United Nations Climate Change Conferences are yearly conferences held in the framework of the United Nations Framework Convention on Climate Change (UNFCCC). They serve as the formal meeting of the UNFCCC parties – the Conference of the Parties (COP) – to assess progress in dealing with climate change, and beginning in the mid-1990s, to negotiate the Kyoto Protocol to establish legally binding obligations for developed countries to reduce their greenhouse gas emissions. Starting in 2005 the conferences have also served as the "Conference of the Parties Serving as the Meeting of Parties to the Kyoto Protocol" (CMP); also parties to the convention that are not parties to the protocol can participate in protocol-related meetings as observers. From 2011 to 2015 the meetings were used to negotiate the Paris Agreement as part of the Durban platform, which created a general path towards climate action. Any final text of a COP must be agreed by consensus.
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