Operationalising the Kyoto Protocol's Adaptation Fund: A New Proposal

The 1997 Kyoto Protocol states that “a share of the proceeds from certified project activities” of the Clean Development Mechanism (CDM) should be used “to assist developing country Parties that are particularly vulnerable to the adverse effects of climate change to
meet the costs of adaptation.” In the 2003 KP rule-book – known as the ‘Marrakech Accords’ – this share was specified as 2% of the Certified Emission Reductions (CERs) to be administered through a
special Kyoto Protocol Adaptation Fund.