Adaptation Fund Seen More Prominent in New Draft of Final Glasgow Deal (1)

By Mathew Carr

Nov. 12, 2021 — The fund set to get money in the form of “share of proceeds” from carbon-market transactions — The Adaptation Fund — is seen as important in the new iteration of the final deal at COP26 talks this week.

It wasn’t mentioned two days ago in the first iteration of the overarching deal draft.

The share of proceeds from carbon market transactions has been touted at as much as 30%, yet that’s not mentioned in recent 6.2 texts.

The draft text for the main overarching decision is below for download …and linked.

See this section of a recent Article 6.2 (international carbon markets – bilateral) iteration for context about the fund:

VII. [Ambition in mitigation and adaptation actions

  1. Recalling Article 6, paragraph 1, participating Parties and stakeholders using cooperative approaches,
    [particularly those cooperative approaches that are baseline and crediting approaches], [[shall] [are strongly
    encouraged to [commit to]] contribute resources for adaptation [through a share of proceeds]][, primarily
    through contributions to the Adaptation Fund,] [and to [take into account] [contribute commensurate with]
    the rate delivered under the mechanism established by Article 6, paragraph 4,] [and by directly financing
    adaptation projects] to assist developing country Parties that are particularly vulnerable to the adverse
    effects of climate change to meet the costs of adaptation.
    6.2 draft: https://unfccc.int/sites/default/files/resource/Art._6.2_draft_decision_v1.pdf

Link to overarching decision: https://unfccc.int/sites/default/files/resource/Overarching_decision_1-CP-26_0.pdf

Link to document on Adaptation Fund bits: https://unfccc.int/sites/default/files/resource/AFB_report_CMA_decision_0.pdf

(Adds how Adaptation Fund mention seems to have become prominent.)

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