Adaptation Fund Breaks Single-Year Resource Mobilization Record with Nearly US$ 129M in New Pledges Received
Contributors Raise Ambition While Recognizing Fund’s Effective Adaptation Work for Most Vulnerable
Katowice, Poland (December 12, 2018) — In a powerful nod of recognition to the Adaptation Fund’s effective and tangible work on the ground for the most vulnerable countries and a strong signal of raising global ambition for urgently needed adaptation finance, several contributor governments announced new funding commitments to the Fund at its Contributor Dialogue on Dec. 11 at the COP 24 climate change conference.
A single-year record in new pledges, corresponding to about US$ 129 million, were announced to the Fund during the dialogue and subsequently from a total of nine contributor governments, including two first-time contributors of the Fund. This surpassed the Fund’s previous record of US$ 95.9 million set last year.
Germany (70 million EUR), France (15 million EUR), Italy (7 million EUR), Sweden (50 million SEK), the Walloon Region of Belgium (4 million EUR), the Brussels-Capital Region of Belgium (465,000 EUR) and first-time contributors the European Commission (10 million EUR) and New Zealand (NZ$ 3 million) announced new contributions during the dialogue. Ireland (300,000 EUR) later announced a new contribution during high-level statements at COP24. Several recipient governments, national implementing partners and civil society representatives also described some of the Fund’s success stories emanating from projects during the dialogue.
UNFCCC Executive Secretary Ms. Patricia Espinosa set the tone at the outset of the dialogue. She acknowledged the record demand the Fund has been under, citing a record US$ 264 million in project requests received for its last Board meeting alone, as well as its effective adaptation work on the ground for the most vulnerable communities. “We need to see greater ambition,” she said. “The Adaptation Fund has a vital role to play. It works to bridge one of the most crucial gaps by funding concrete adaptation projects for the most vulnerable countries to climate change. It is also a pioneer through Direct Access in developing country ownership in adaptation. Most importantly it’s about the people, societies and ecosystems that support them. The Adaptation Fund needs more support. Let’s do all we can to ensure the vision, energy and imagination embodied by the Adaptation Fund continues well into the future.”
H.E. Mr. Josaia Voreqe Bainimarama, Prime Minister of Fiji and COP 23 President, also made a call to urgently scale up climate finance. He praised the Fund’s project in Fiji to help vulnerable settlements adapt to climate change and disaster risks. “The Fund has been successful, including in Fiji,” he said. “Many more projects need to be funded, not just in Fiji, but all over the world to communities in need.”
The donation announcements that followed during the event ranged from regular contributors of the Fund to brand new contributors.
Longtime contributor Germany took a big leap forward with a 70 million EUR donation – the largest single donation to the Fund ever. “We believe in the quality and work that the Fund has done,” said Dr. Karsten Sach, Director General, Climate Policy, European and International Policy, Federal Ministry for the Environment, Nature Conservation, Building and Nuclear Safety, of Germany. Sach cited recent independent evaluations that gave the Fund high marks for efficiency, effectiveness and relevance.
Consistently strong contributor Sweden also announced 50 million SEK to the Fund. “Recent extreme weather events around the globe have once again reminded us that climate change is not something in a distant future – it is here and now,” said H.E. Ms. Karolina Skog, Minister for the Environment, Ministry of Environment and Energy, Sweden. “The issue of adaptation is high on our agenda. We hope that our pledge of support sends a clear signal that Sweden stands in solidarity with people and countries particularly affected by climate change. We hope that this pledge will contribute to a positive momentum. The Adaptation Fund plays an important role in climate finance, not least by spearheading the Direct Access Modality, which has proven immensely valuable to build crucial national capacity. Sweden’s objective is to make the Adaptation Fund an integral part of the financial architecture of the Paris Agreement. And we highly appreciate the efforts made by the Adaptation Fund to mainstream gender into project design and implementation.”