ECO is concerned about the survival of the Adaptation Fund. Created in the old times of the Kyoto Protocol, it was given the chance for a new life through the Paris Agreement. However, the way developed countries are “revisiting” its existence has us really worried about all those issues we thought we had clarified in Paris.
“We fully support adaptation finance”, they say. “But we don’t see how the Adaptation Fund itself is ‘technically and legally’ ready to serve the Paris Agreement. The Fund was created to be supported by Clean Development Mechanism (CDM) revenues. Since that has failed, we will have to rethink the Fund itself”.
Readers, can ECO remind our dear negotiators to re-read some old decisions they took right here in Marrakech back in 2001 when the Fund was established?
Let’s remind each other that 15 years ago we decided to establish the Adaptation Fund, period! We also agreed that the CDM would fund it, along with other sources, including finance provided by Annex I Parties (developed nations).
We truly hope that these rhetorical battles will end soon and Parties acknowledge once and for all the importance of the Adaptation Fund serving the Paris Agreement.