AF: Germany Opens UN Climate Conference with EUR 50M Pledge to Adaptation Fund
Germany Opens UN Climate Conference with EUR 50M Pledge to Adaptation Fund
Supports Fund’s Integration into Paris Agreement
Bonn, Germany (November 6, 2017) – Germany, the top contributor of the Adaptation Fund, announced a EUR 50 million pledge to the Fund during the opening plenary of the UN Climate Change Conference in Bonn, signaling its continued strong support of developing countries in climate change adaptation.
“With this pledge of support we are sending a clear signal that Germany stands in solidarity with those people and countries particularly affected by climate change,“ said German Federal Environment Minister Barbara Hendricks in a press release issued by the German government. “I hope that this pledge will lend good momentum and inspire a constructive atmosphere for the negotiations. Having contributed a total of 240 million euros to date, Germany is now the largest donor to the Adaptation Fund. Our objective is to make the fund an integral part of the financial architecture of the Paris Agreement.”
The EUR 50 million pledge, which is equivalent to about US$ 58 million, gives the Adaptation Fund a significant boost toward its resource mobilization goal of US$ 80 million for 2017. It also sends a strong, early signal of support, giving the Adaptation Fund momentum in its roadmap to formally serve the Paris Agreement.
“We are extremely grateful and honored to receive such a generous contribution from our largest contributor, Germany,“ said Adaptation Fund Board Vice Chair Victor Viñas, of the Dominican Republic who represents Latin America and the Caribbean on the Board. “It sends a great signal coming on the first day of this important international climate change conference, and acknowledges the Adaptation Fund’s effectiveness in supporting vulnerable communities in developing countries adapt to climate change, as well as the importance and urgency for adaptation.“
“This comes as we soon commemorate our 10th Anniversary of the launching of the Adaptation Fund’s operations, on November 16 here in Bonn, so it has added meaning and special significance for the vulnerable countries we serve and our country counterparts, implementing partners and stakeholders who all collaborate to make our projects so effective,“ said Adaptation Fund Board Secretariat Manager Mikko Ollikainen.
Through 70 concrete, localized projects to date, the Adaptation Fund helps the most vulnerable communities in developing countries adapt and build resilience to climate change. The Fund also pioneered a climate finance modality called Direct Access that empowers developing countries to build national capacities to adapt to climate change through country-based national implementing entities that can design projects and access funds directly.
The Fund has received record demand over the last couple of years, as vulnerable communities in developing countries face rising seas, increasing floods, droughts and intense storms. Projects are country-led and are based on local needs, covering diverse adaptation sectors such as coastal zone management, sustainable agriculture, food and water security, and disaster risk reduction.
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