Washington DC, January 28, 2011: The Government of Sweden made a contribution of SEK 100 million (Euros 11 million approx) to the Adaptation Fund Trust Fund.
In thanking the Swedish Minister of the Environment, H.E. Andreas Carlgren, the Adaptation Fund Board Chair, Mr. Farrukh Iqbal Khan considered the “contribution to be a clear manifestation of the Swedish Government and the country’s strong commitment to adaptation efforts in developing countries, especially when the Fund had become fully operational.” Mr Khan expressed his hope that the Swedish contribution would serve as an important reminder to other developed countries of the huge gap that exists between the adaptation resources and the needs.
The Chair also appreciated the role that Sweden played in the operationalization of the Adaptation Fund Board.
The Adaptation Fund Board has considered a total of 29 projects as both fully developed proposals and concepts. Of those, 4 project proposals have been approved for funding and 9 concepts have been endorsed.
During the Cancun meetings, the Fund also received pledges from Australia (AU$ 10 million) and the Brussels Capital region in Belgium (Euros 1 million).
The Adaptation Fund is a self-standing fund established under the Kyoto Protocol of the UN Framework Convention of Climate Change and gets its funding from a two percent share of he proceeds of the Certified Emission Reductions issued under the Protocol’s Clean Development Mechanism projects. The Fund is managed by an international Board comprised of members chosen from across the globe and appointed by the Parties to the Kyoto Protocol. The Fund is designed to finance concrete climate change adaptation projects and programs based on the needs, views and priorities of developing countries.