Adaptation Fund Embarks on New Activities in 2024

As the Adaptation Fund (AF) gets ready to further enhance its adaptation programs for the most vulnerable in 2024, it is an opportune moment to take stock of AF’s work in 2023 -- another busy and positive year for the Fund.

The AF continues to grow, so far reaching 165 approved concrete projects on the ground in 2023, with over US$ 1.1 billion committed to improving the climate resilience of 43 million total beneficiaries in 112 countries. It is restoring over 635,000 ha of natural habitat and 164,000 meters of coastlines while creating 526 early warning systems at local, country and regional levels.

Nearly half of AF’s projects are in least developed countries or small island developing states, and many projects represent the first adaptation actions in countries -- creating scalable models that can multiply their impacts in more areas. AF also continues to build country capacities and ownership through its pioneering Direct Access (DA) and Enhanced DA modalities.

Record demand for adaptation projects was also apparent throughout 2023. In fact, the year 2024 began with confirmation from a report from Copernicus, the EU’s earth observation program which periodically gathers detailed information on climate change, that 2023 was the hottest on record by significant margins -- including .60°C above 1991-2020 mean averages and 1.48°C above 1850-1900 pre-industrial averages. The large margin by which the previous record was surpassed provides indisputable testimony of how much warmer and riskier today’s climate is and adds further to the urgency of investments in adaptation funding highlighted by a UNEP adaptation gap report released in 2023 -- which estimated adaptation finance needs of developing countries to be 10-18 times larger than what is provided by international public finance. The AF’s own active pipeline of projects under development reflects such increasing needs as it grew to US$ 425 million during 2023.

The AF and co-host Kemitraan brought together local government leaders and 20 of the Fund’s national implementing entities to meet in Central Java for a knowledge exchange and visit to an AF-funded project in Pekalongan City. Read more>>

July: AF Reaccredited World Bank and Asian Development Bank

Two multilateral implementing entities (MIEs) of the AF, achieved reaccreditations with the Fund in June, improving and expanding access to climate finance for developing countries across the globe. Read more >>

September: AF Sustainable Water and Farming Project in Dominical Republic Brings Countries Together in Learning Visit

The project visit was the culmination of a seminar held in Santo Domingo that brought together AF’s national implementing entities to share lessons and experiences in project development and accessing climate finance through the Fund’s accreditation and grant funding processes. Read more >>

October: AF Board Approves US$ 58 Million in New Adaptation Projects, Expands Small Innovation Grants Partnership

UNIDO and WFP join the Adaptation Fund Climate Innovation Accelerator (AFCIA) partnership, contributing to the enhancement of community resilience. Read more >>

October: AF Innovation Days at Adaptation Futures 2023

The AF shared case studies, key knowledge and innovative projects through its Innovation Days and learning events for thousands of attendees at Adaptation Futures in Montreal. Read more >>

November: AF Stands Poised to Continue to Deliver to Most Vulnerable, Amid Release of Telling Adaptation Gap Report

The 2023 Adaptation Gap Report found that adaptation finance needs of developing countries are 10-18 times bigger than what is needed through international public finance flows. Read more >>

November: AF Study Shows How Disaster Risk Reduction (DRR) and Early Warning Systems (EWS) Strengthen Long-Term Resilience

A new AF study emphasizes the crucial role of DRR and EWS in confronting the intensifying challenges associated with climate change. Read more >>

December: AF Mobilizes Over US$ 192 Million in New Pledges at COP28 for the Most Climate-Vulnerable

The AF also approved an enhanced direct access project in Belize designed to build capacity of local organizations through locally led action. Read more >>

December: Enhancing Access and Increasing Impact: The Role of the Multilateral Climate Funds

The AF, the Climate Investment Funds, the Global Environment Facility and the Green Climate Fund unite for a joint declaration, committing to enhance climate finance access and impact and boost collaboration to address the urgent needs of the most vulnerable. Read more >>

December: Health Adaptation Advanced at COP 28

AF took key strides forward to improve health of populations that are vulnerable to climate-related health risks on Health Day at the COP 28 Climate Change Conference in the United Arab Emirates, where it announced its accreditation of the World Health Organization (WHO) as an implementing partner and its endorsement of the Guiding Principles for Financing Climate and Health Solutions. Read more >>

December: AF Evaluation Policy Launched at COP 28

The Evaluation Policy of the AF was adopted by the AF Board in April 2022 and came into force in October 2023. As the Evaluation Policy is a key Fund-wide policy, a special launching ceremony was organized at COP28 in Dubai. Read more >>

December: AF Climate Innovation Accelerator Grantee Wins Local Adaptation Champion Award at COP28

A local organization in Oaxaca, Mexico that helps indigenous communities won the Local Adaptation Champions award. Read more >>

In their words: Key Quotes from 2023

“I’ve talked to so many recipient countries who have expressed so much appreciation. These are not just financial transactions, but critical lifelines to vulnerable communities facing the harshest conditions.” -- H.E. Adnan Amin, COP 28 CEO of the UAE, speaking about the importance of funding AF's work.

“We need adequate, predictable and reliable resources for the Adaptation Fund. The Adaptation Fund delivers high quality adaptation finance.” -- Julia Grimm, of 1,900-CSO member Climate Action Network.

“Adaptation Fund really gives value to what you are doing, what you are going through. They are very unconventional. [As national implementing entities] we have the same challenges, we have the same problems, so it’s like a family atmosphere. It really builds a bond with each other that you don’t find anywhere else.” -- Ndeye Coumba Keita, Program Director, Centre de Suivi Ecologique, Senegal.

“What the Adaptation Fund has done is to give us that space to experiment. We have been able to learn very, very valuable lessons. And that is what will be required, because climate change is so dynamic now. You have to have that element of adaptive learning and innovation all the time.” -- John Wakhungu Wafula, Deputy NIE Coordinator, National Environment Management Authority, Kenya.

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