Taking into account the instructions contained in the paragraph above, the Adaptation Fund Board also decided to request the trustee to:

(a) Sell the Adaptation Fund’s CERs related to HFCs as a matter of priority;

(b) Continue to provide the Board with relevant information and continuous advice which would guide it on the above decision; and

(c) Continue to report on the individual and average prices for the CERs sold and how they compared with the market prices to facilitate the Board’s understanding of the monetization process.