Adaptation Fund Five-Year Strategy Fosters Activities Based on Pillars of Action, Innovation, and Learning and Sharing

 

 

Adaptation Fund Five-Year Strategy Fosters Activities Based on Pillars of Action, Innovation, and Learning and Sharing

Strategy Affirms Fund on Right Track through its Tangible Actions and Focus on Most Vulnerable

 

 

Washington, D.C. (March 5, 2018) – The Adaptation Fund has released a five-year Medium-Term Strategy (MTS), affirming its key strengths in supporting concrete actions in vulnerable developing countries while building around the UN Sustainable Development Goals and serving the Paris Climate Agreement to help meet the tremendous challenge of climate change by accelerating adaptation action.

 

 

While strengthening what the Fund has already been excelling at in supporting concrete adaptation projects to the most vulnerable and driving innovation through tailored, localized actions and pioneering climate finance models such as Direct Access that drive country ownership, the MTS is built around three strategic pillars of Action, Innovation, and Learning and Sharing.

 

 

The strategy, adopted by the Adaptation Fund Board at its 30th meeting in October in Bonn, Germany, calls for the Fund to accelerate and enhance the quality of adaptation action in developing countries while supporting country-driven projects, innovation and multi-level global learning and sharing for effective adaptation.

 

 

While the Fund has supported innovation and learning throughout its history, the strategy envisions targeted funding for these activities such as support for scaling up proven and innovative adaptation practices and technologies across countries or regions, and sharing practical knowledge and lessons from effective actions. The great majority of resources will continue to be reserved for concrete adaptation projects and programmes.

 

 

“The MTS focuses on the Adaptation Fund’s value in supporting concrete projects that directly reach, engage, empower and benefit the most vulnerable communities and social groups,” said Adaptation Fund Board Chair Michael Kracht. “Additionally, its ability to generate valuable and timely knowledge through these innovative actions offer opportunities for transformational impact.”

 

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