In his remarks to the Parties on Wednesday, the Adaptation Fund (AF) chair underscored the great achievement made by the Fund this year. He emphasised, among other things, that the AF has now accredited twelve National Implementing Entities, which allow for direct access of developing countries to the funds of the AF. Experience shows that this has also triggered the strengthening of institutional capacities to manage project funds. For ECO, this is evidence that direct access is no longer a pilot test programme perceived as highly risky, but rather a reality. In addition, two years after its first call for proposals, the AF has approved 25 concrete urgent adaptation projects covering all fields of adaptation, with several more in the pipeline. A key objective is to target the most vulnerable groups.
Today´s good deed: Donate Your DSA to the Adaptation Fund
Because of these significant achievements of the AF and at the same time the scarce resources at its disposal, ECO is seriously worried about the dwindling resources and lack of predictability that poor countries are facing. Due to the over-supply of permits, the lack of mitigation ambition and the global economic downturn, prices for CERs, which provide the main source of income for the AF, have gone down to record lows below US$2.
While almost everybody is looking at the Green Climate Fund (GCF), which will hopefully lead to the long awaited transformational change needed to tackle the climate crisis, ECO would like to draw the attention of Parties to the Adaptation Fund. It is the only operating fund providing direct access under the Convention. ECO believes that the AF should play an important role until the GCF is operationalised, and beyond. So let us now secure the survival of the AF.
In order to increase funds for the AF, Parties are discussing the extension of the CER levy to other mechanisms. Furthermore, since yesterday, individuals can donate funds into the AF through a simple procedure on its website. Dear COP participants: Why not donate one DSA into the AF for your daily good? (The donation function is also open to individuals from non-Kyoto Parties, and, by the way, hosted in the US). The more people contribute, the stronger the signal to incoming ministers that there is support for the AF. Looking into the books of the AF, ECO has found out that some not too poor countries, such as Japan, Norway, France and Canada, have not yet made contributions to fund projects. ECO wants to see additional contributions being pledged in Doha. The system allows for amounts of up to 13 digits (that may be sufficient to solve all adaptation problems now!). So ministers, bring credit cards to Doha!