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No. 340/15 | Berlin, 08.12.2015

Germany strengthens international fund for adaptation to climate change

Additional 50 million euros for the Adaptation Fund

Germany is increasing its contribution to the international Adaptation Fund. The German government will provide an additional 50 million euros in 2015. This money will directly benefit regions and people that are particularly affected by climate change. Measures financed by the Adaptation Fund include coastal protection and a switch to new farming methods.

Federal Environment Minister Barbara Hendricks commented: "Many countries in the South value the multilateral Adaptation Fund because it is administered by donors and recipients as equal partners. It gives accredited implementing entities direct access to funding. This shows that we are taking the needs of poorer countries seriously. They need concrete assistance in adapting to climate change. I hope that this signal brings fresh impetus to the negotiations in Paris."

Germany has already paid 90 million euros into the Adaptation Fund. A total of 485 million US dollars is currently available for the fund. More than three quarters of this are already earmarked for specific adaptation projects. Other projects are currently under preparation, with a volume of around 200 million US dollars. As climate change continues to advance, the need for adaptation measures is growing.

The fund is financed by a share of proceeds from international carbon market projects (certified emission reductions from the clean development mechanism). The low prices on the carbon market have led to a shortfall in financing. This financing gap will now be bridged by voluntary contributions from several donor countries, thus securing further implementation of projects. The Adaptation Fund finances specific measures for regions that are particularly affected by climate change. Projects include measures to secure water supply and to protect coastal areas. The Adaptation Fund closes a significant gap in multilateral climate financing.

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