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Adaptation Fund Releases 23rd Board Meeting Report

Adaptation Fund6 May 2014: The Adaptation Fund (AF) has released the report of the 23rd meeting of its Board (AFB). The report outlines the discussions and actions taken at the meeting, including decisions on fundraising targets in 2014 and 2015, eligibility criteria for the Readiness Programme, and zero tolerance for corruption.

The 23rd AFB meeting took place on 20-21 March 2014, in Bonn, Germany. The Board heard reports on the activities of the secretariat and the outgoing Chair, who reported that he received assurance that UN Secretary-General Ban Ki-moon's Climate Summit 2014 will address adaptation.

After hearing reports from the 13th Project and Programme Review Committee (PPRC) meeting and the 14th Ethics and Finance Committee (EFC) meeting, the Board took up matters remaining from its 22nd meeting. These included a discussion on the Readiness Programme's implementation, as well as strategic objectives and next steps for AF. On the latter, the Board set a fundraising target of US$80 million per calendar year in 2014 and 2015.

A discussion of projects and programmes in the pipeline centered around options for clearing the pipeline, especially as related to projects proposed by multilateral implementing entities (MIEs). A number of suggested approaches were put forward, but the Board agreed to defer further consideration of this matter to its 24th meeting.

The Board approved a project for Indonesia, bringing the total value of projects approved (including four approved intersessionally) since the ninth session of the Conference of the Parties serving as the meeting of the Parties to the Kyoto Protocol (CMP 9) to US$32,354,480.

Prior to the meeting, the Board held a dialogue with civil society organizations, which proposed that PPCR and EFC meetings be opened to observers to increase transparency. The Board deferred a decision on opening the committee meetings to observers to its 24th meeting.

Further, the Board accepted a proposal to institute a zero tolerance policy on corruption for itself and asked the secretariat to prepare a draft of such a policy for consideration by EFC.

The Adaptation Fund supports climate resilience projects in developing country parties to the Kyoto Protocol. Over three years, it has committed US$225 million in 34 countries. The 24th meeting of the Board will be held on 7-10 October 2014, in Bonn, Germany. [Report of the 23rd Meeting of AFB] [Adaptation Fund Website] [AFB Meeting Reports] [IISD RS Story on the 23rd Meeting of the AFB]