Sunday, February 8, 2009

Developing countries could benefit from Adaptation Fund as early as April

Jamaica Observer: Developing countries like Jamaica could see their climate change adaptation efforts boosted this year as they may be able to dip into the Adaptation Fund as early as April, according to Jamaica's representative on the Adaptation Fund board, Jeffrey Spooner.

"(Countries could benefit) anytime after the first quarter of this year. And I say so based on the fact that the Adaptation Fund Board has asked the World Bank, who is the invited trustee, to monetarise the CERS (certified emission reductions), that is, to change the CERS into money for concrete adaptation projects and programmes," he said.

…But before developing countries like Jamaica can benefit, there are several procedural matters that the fund's board will have to undertake in accordance with developments at last December's United Nations Climate Change Conference held in Poznan, Poland. These include informing parties to the Kyoto Protocol of the operational policies, guidelines and procedures for application for funding for adaptation projects and programmes as soon as the board has adopted them.

However, Spooner expects that this work will be completed at their next meeting in March. "There is basically one outstanding piece of work left, and that is to look at or adopt the modalities for the executing and implementing entities to have direct access to the adaptation fund," he said. "We are hoping to finish that next piece of work at our next meeting in March."…

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