sopeutumisrahastot

Sopeutumisrahastot, or Adaptation Fund in English, is a financial instrument established under the United Nations Framework Convention on Climate Change (UNFCCC). Its primary objective is to assist developing countries in financing concrete adaptation projects and programs in vulnerable communities. The fund focuses on addressing the adverse impacts of climate change, such as rising sea levels, extreme weather events, and changing precipitation patterns.

The Adaptation Fund finances projects that aim to reduce vulnerability to climate change. This includes measures like improving water management, developing drought-resistant crops, protecting coastal areas from erosion, and implementing early warning systems for natural disasters. Projects are typically demand-driven and are submitted by national designated authorities in developing countries.

Funding for the Adaptation Fund comes from a variety of sources, including a share of proceeds from the Clean Development Mechanism (CDM) under the Kyoto Protocol and voluntary contributions from developed countries and other donors. The fund is overseen by its own board, which is responsible for its operations, including approving funding proposals and setting policies. The Adaptation Fund plays a crucial role in supporting climate resilience efforts in the most vulnerable parts of the world.