Adaptation Fund – UNFCCC
The Adaptation Fund (AF) was established in 2001 under UNFCCC 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.
Adaptation Fund Board
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). The Fund is headquartered in Washington, USA and World Bank serves as trustee of the Fund on an interim basis.
How Adaptation Fund financed?
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 activities.
Clean development mechanism
The Clean Development Mechanism (CDM) allows emission-reduction projects in developing countries to earn certified emission reduction (CER) credits, each equivalent to one tonne of CO2. These CERs can be traded and sold, and used by industrialized countries to a meet a part of their emission reduction targets under the Kyoto Protocol.
- The mechanism stimulates sustainable development and emission reductions, while giving industrialized countries some flexibility in how they meet their emission reduction limitation targets.
- The CDM is the main source of income for the UNFCCC Adaptation Fund
Adaptation Fund in News
National Bank for Agriculture and Rural Development (NABARD) has been reaccredited as National Implementing Entity (NIE) by the Adaptation Fund set up under the Kyoto Protocol of the United Nations Framework Convention on Climate Change (UNFCCC). NABARD received a communication in this regard on 12th January 2018. The reaccreditation is till 26 December 2022.
NABARD was first accredited as NIE for Adaptation Fund in July 2012 and is the only NIE for India. Read more about it >>