15 September 2008: The Adaptation Fund Board (AFB) is
holding its third meeting from 15-18 September 2008, at the United Nations
Campus in Bonn, Germany. At its second meeting in June, the Board adopted a
Work Plan for 2008, Legal Arrangements for the Adaptation Fund (AF)
Secretariat, an outline for Operational Policies and Guidelines for Parties to
Access Resources from the AF, and Roles and Responsibilities of Implementing
and Executing Entities.

At its third meeting, the Board is scheduled to
continue discussions on several agenda items remaining from the second meeting
such as the rules of procedure of the AFB, legal issues pertaining to the
operationalization of the AF, role and responsibilities of the AF Trustee and
legal arrangements for the AF Trustee. On monetization of certified emission
reductions (CER), the Board will consider the information provided by the
Committee established at the meeting in June and decide on a strategy for the
short-term monetization of the CERs of the AF.
The Board will also review the
document on Eligibility Requirements for AF CERs and Emission Trading, prepared
by Invited Trustee, and discuss if guidance and clarification should be sought
from the Conference of the Parties serving as the meeting of the Parties to the
Kyoto Protocol (CMP) as to whether monetization of AF CERs are subject to any
eligibility requirements. In addition, the third meeting of the AFB will focus
on Provisional Operational Policies and Guidelines for Parties to Access
Resources from the AF, and Strategic Priorities, Policies and Guidelines.
The
Board will also consider a draft Report of the AFB to the CMP; the Chair’s
proposal for establishing committees of the AFB; Status of the AF Resources;
and Revised Budgets for the AFB and Secretariat. [Working documents for
the Third meeting of AFB] [Report
of the Second meeting of the AFB]