The Adaptation Fund (AF) was established in 2001 to finance concrete adaptation projects and programmes in developing country Parties to the Kyoto Protocol that are particularly vulnerable to the adverse effects of climate change.

The Adaptation Fund is financed with a share of proceeds from the clean development mechanism (CDM) project activities and other sources of funding.  The share of proceeds amounts to 2 per cent of certified emission reductions (CERs) issued for a CDM project activity.

The Adaptation Fund is supervised and managed by the Adaptation Fund Board (AFB).  The AFB is composed of 16 members and 16 alternates and meets at least twice a year (Membership of the AFB). 

In decision 1/CMP.8, the Parties decided that for the second commitment period, the Adaptation Fund shall be further augmented through a 2 per cent share of the proceeds levied on the first international transfers of AAUs and the issuance of ERUs for Article 6 projects immediately upon the conversion to ERUs of AAUs or RMUs previously held by Parties.

Adaptation Fund membership

CMP 11 welcomed the financial contributions that have been made to the AF in 2015 by the Governments of Germany, Italy, Luxembourg, Sweden and the Walloon Region of Belgium, amounting to USD 77 million. The CMP urged the developed country Parties that responded to the fundraising target of the AFB but have not yet made financial contributions to do so at their earliest opportunity. The CMP also encouraged the provision of voluntary support that is additional to the share of proceeds from clean development mechanism project activities in order to support the resource mobilization efforts of the AFB, with a view to strengthening the AF.

Parties requested the AFB to continue its efforts to simplify accreditation procedures for national implementing entities and to report back on its progress to the CMP at its twelfth session (November 2016). Parties also requested the AFB to provide, in its future reports to the CMP, further information on the status of the portfolio of the AF, including projects at different stages of development.

Finally, the CMP recommended that the Conference of the Parties serving as the meeting of the Parties to the Paris Agreement (CMA), at its first session, considers that the Adaptation Fund may serve the Paris Agreement, in accordance with paragraphs 59 and 60 of decision 1/CP.21. The CMP invited the COP at its twenty-second session to request the Ad hoc Working Group on the Paris Agreement to undertake the necessary preparatory work concerning this issue, and to forward a recommendation to the CMP for its consideration and adoption no later than at CMP15.

COP 21 recognized that the AF may serve the Agreement, subject to relevant decisions by the CMP and the CMA. Subsequently, the COP invited the CMP to consider this issue and make a recommendation to the CMA at its first session.

• Climate Finance Readiness Seminars
• Workshops on the accreditation of National Implementation Entities