Nearly US$ 172 Million pledged to Adaptation Fund for Most Climate-Vulnerable countries at COP27

SHARM EL SHEIKH, Egypt - 17 November 2020: A total of $172 million has been pledged from developed countries to the the Adaptation Fund that serves the developing countries during the 2022 United Nations Climate Change Conference (COP27) in Sharm El-Sheikh City, South Sinai.

Nearly 200 countries came to Sharm El-Sheikh to discuss the finance, reparations, and compensation for the losses and damages caused by the main emitters of carbon monoxide from the developed countries like the US, China, the European Union, etc.

“Accelerated adaptation action is needed as we face unprecedented climate change challenges, and the Adaptation Fund is a source for optimism,” said Adaptation Fund Board Chair Albara Tawfiq.

COP27 President Sameh Shoukry said that the Adaptation Fund is a key channel for delivering adaptation finance to developing countries. It provides grants for adaptation to the most vulnerable communities in developing countries.

The COP27 submitted pledges and contributions:

• US$ 50 million from the United States
• USDeq 20.0 million from UNFCCC (from its CDM Trust Fund as authorized by Parties in Glasgow)
• USDeq 19.9 million from Spain
• USDeq 16.4 million from Sweden
• US$ 12.0 million from Japan
• USDeq 9.9 million from France
• USDeq 8.7 million from New Zealand
• USDeq 7.3 million from the Province of Quebec in Canada
• USDeq 7.2 million from Norway
• USDeq 5.4 million from Ireland
• USDeq 5.2 million from the Walloon Regional Government in Belgium
• USDeq 4.9 million from Austria
• USDeq $3.0 million from Switzerland
• USDeq $844,000 from Republic of Korea
• USD equiv $400,000 from Iceland
• USD equiv $11,000 through the Fund’s private donation button administered by the UN Foundation.

On November 11, the United States of America has pledged more than $150 million in aid for Africa’s adaptation to climate change impact, announced United States Special Presidential Envoy for Climate, John Kerry, on the sidelines the (COP27).

During the “Advancing Adaptation in Africa” which was co-hosted with the US special envoy, COP27 President Sameh Shoukry said that Egypt as COP27 President and as an African nation, well aware of the adaptation challenges facing our continent, is pleased to have collaborated over the past year with the United States to develop a diverse package of support for Africa in the field of adaptation and resilience.

The package of initiatives and pledges aim at accelerating implementation and action on the ground in support of adaptation in Africa.