Adaptation fund

Adaptation fund is a fund for projects and programs that help developing countries cope with the adverse effects of climate change. It is financed by a share of proceeds from emission-reduction programs such as the Clean Development Mechanism.

In accordance with decision 1/CMP.3 of the third session of the Conference of the Parties serving as the meeting of the Parties to the Kyoto Protocol (CMP),

The Adaptation Fund Board was established as the operating entity of the Adaptation Fund with the mandate to supervise and manage the Adaptation Fund under the authority and guidance of the CMP.

The Board is composed of 16 members and 16 alternate members representing Parties, formally elected at a session of the CMP on the Adaptation Fund as follows (for both member and alternate):

·Two representatives from each of the five UN regional groups;

·One representative of the small island developing states;

·One representative of the least developed country Parties;

·Two other representatives from Annex I Parties; and

·Two other representatives from non-Annex I parties.

The members and alternates shall each serve for a term of two calendar years and shall be eligible to serve a maximum of two consecutive terms.

The Board shall elect the Chair and Vice-Chair from among its members, with one being from an Annex I party and the other being from a non-Annex I party. The term of office of the Chair and Vice-Chair shall be one calendar year. The office Chair and Vice-Chair shall alternate annually between a member from an Annex I Party and a member from a non-Annex I party.