Adaptation Fund

Adaptation Fund (AF) was established under the Kyoto Protocol to finance concrete adaptation projects and programmes in developing country Parties to the Protocol. The Adaptation Fund is financed from the 2 per cent share of proceeds on the clean development mechanism project activities and other sources of funding. The adaptation Fund is supervised and managed by the Adaptation Fund Board (AFB). The most important characteristics of this Fund are that Parties have direct access which has led to increased country ownership over adaptation projects.