Adaptation Fund

The Adaptation Fund is an international financing mechanism established to support developing countries in adapting to the impacts of climate change. Created under the Kyoto Protocol of the UNFCCC, it finances concrete, country-driven projects that enhance climate resilience across sectors such as agriculture, coastal management, water resources, and disaster risk reduction. The Fund is governed by the Adaptation Fund Board, composed of representatives from both developed and developing nations. It pioneered direct access modalities, allowing accredited national entities to obtain funding without intermediaries. Supported through government contributions and a share of proceeds from carbon market mechanisms, the Adaptation Fund plays a key role in global adaptation efforts, especially for vulnerable communities facing rising climate risks.