A single-year record of approximately US$129 million was committed by nine contributor Governments, including two first-time contributors, exceeding the Fund’s previous record of US$95.9 million set in 2017.
Germany made a 70 million Euros pledge, the largest single donation to the Fund ever.
12 December 2018: A record number of new pledges to the Adaptation Fund were announced during an event held on the sidelines of the 24th session of the Conference of the Parties (COP 24) to the UNFCCC. A single-year record of approximately US$129 million was committed by nine contributor Governments, including two first-time contributors, exceeding the Fund’s previous record of US$95.9 million set in 2017.
During the Adaptation Fund Contributor Dialogue on 11 December, co-hosted by the German and Swedish Governments, Germany, France, Italy, Sweden, Ireland, two regions in Belgium, and first-time contributors New Zealand and the European Commission announced their pledges. Germany made a 70 million Euros pledge, the largest single donation to the Fund ever.
Sweden’s objective is to make the Adaptation Fund an integral part of the Paris Agreement’s financial architecture.
Welcoming the pledges and highlighting the high demand for the Fund, UNFCCC Executive Secretary Patricia Espinosa said a record US$264 million in project requests was received for the last Adaptation Fund Board meeting alone. Expressing gratitude for the contributions, Adaptation Fund Board (AFB) Chair Victor Viñas said the Fund pioneered ‘Direct Access,’ an innovative climate finance modality, which helps build national capacities and fosters country ownership in adaptation. Karolina Skog, Minister for the Environment, Sweden, said her country’s objective is to make the Adaptation Fund an integral part of the financial architecture of the Paris Agreement on climate change, and commended efforts to mainstream gender into project design and implementation.
Projects funded by the Adaptation Fund and highlighted during the Dialogue include: in Rwanda, terracing, afforestation and de-silting caves, which restored flooded farmlands to vulnerable communities; in Jamaica, empowering agricultural communities through water and land management through a Direct Access project; and, in South Africa, reducing flood and drought risks among 25,000 people and enhancing resilience in local farmers.
Since 2010, the Adaptation Fund has committed US$532 million to 80 adaptation projects in vulnerable communities in developing countries, serving 5.8 million direct beneficiaries. COP 24 is meeting in Katowice, Poland, from 2-4 December 2018. [Adaptation Fund Press Release] [Adaptation Fund Contributor Dialogue Webpage]