Adaptation Fund to consider 23 new projects at March meeting

Published 03:06 on January 25, 2016  /  Last updated at 19:23 on January 25, 2016  /  Africa, Americas, Asia Pacific, EMEA, International, Kyoto Mechanisms, Other APAC, South & Central  /  No Comments

The Kyoto Protocol’s Adaptation Fund has received 23 funding applications for new climate resilience projects that will be assessed at a March meeting in Bonn, a slight drop from the record interest in the previous approval cycle.

The Kyoto Protocol’s Adaptation Fund has received 23 funding applications for new climate resilience projects that will be assessed at a March meeting in Bonn, a slight drop from the record interest in the previous approval cycle.

The Fund will take comments on the projects from stakeholders until Feb. 8.

Recent applications included bids from multinational, national and regional implementation agencies for projects in Africa, the Caribbean, Latin America, the Pacific and South East Asia.

“This shows a steady, significant rate of project proposals received and continued high demand for adaptation in the vulnerable developing countries we serve,” said Marcia Levaggi, the Fund’s manager.

The Fund has accredited 20 national implementation agencies, and with first applications recently in from Antigua and Barbuda, Belize and Panama, all of them have now submitted project proposals.

The Fund approves projects three times a year and for the upcoming cycle, recently-accredited multilateral agency UN-Habitat submitted its first application for a Laos-based project.

Since 2010, the Adaptation Fund has committed $331 million to fund 51 projects worldwide.

The Adaptation Fund was originally intended to be funded through a 2% levy on CER transactions, but with the near-collapse of prices since 2011, that source of revenue has nearly dried up.

Recently the Fund has relied on donations from European governments.

During COP-21 in Paris last month, governments pledged almost $75 million in fresh funds, most of it from Germany ($54.5m) and Sweden ($17m).

The list of projects that will be considered at the Fund’s March meeting can be viewed here.

By Stian Reklev – stian@carbon-pulse.com

Not yet signed up to CP Daily? Subscribe to our free newsletter here

Comment