14 September 2012: Responding to an expression of interest from the UNFCCC Secretariat to purchase certified emission reductions (CERs) directly from the Adaptation Fund to meet offset and other needs of the Secretariat, the Adaptation Fund Board (AFB) has taken an intersessional decision authorizing such sales.

The AFB stresses the potential advantages of this approach for raising the profile of the Adaptation Fund, while recognizing that the purchases will be relatively limited. Based on the arrangement, the transaction costs are not expected to be higher than sales for similar quantities of CERs through exchanges. [AFB Intersessional Decision]