Germany, Australia pledge more adaptation resources for the poor and vulnerable | Global Environment

Washington, June 2, 2011 – Germany and Australia have made new pledges to the Least Developed Countries Fund (LDCF) and the Special Climate Change Fund (LDCF), established by the United Nations Climate Convention to finance adaptation for the most vulnerable.
The new pledges total $122.1 million, including $70.8 million from Germany for the LDCF and $35.4 million for the SCCF as well as $15.9 million from Australia for the LDCF according to officials with the Global Environment Facility (GEF), a multilateral financial institution which administers the funds. The GEF said the new commitments represent the largest individual pledges in the history of the LDCF/SCCF, with total combined contributions currently at $625 million with more commitments expected before 2012.
“This investment is an important step forward in financing the most urgent and immediate adaptation needs of the least developed countries that need our help now more than ever,” said Monique Barbut, CEO and Chairperson. “These commitments reinforce that adaptation is a smart investment choice: both the private and public sectors are looking to manage climate-change risks and finance more resilient infrastructure for a more sustainable future. “
Both funds were established in 2001 under the climate change conference of the parties in Marrakech, Morocco. They are managed by the GEF, an operating financial mechanism of the UN Framework on Climate Change Convention.
The pledges were made at the spring LDCF/SCCF council meeting held in Washington, DC. with donors noting the two funds were the first of their kind to address adaptation and over time have shown a proven track record to deliver on the ground results, whether it is for least developed countries, in the case of LDCF, or all developing countries eligible under the SCCF.
“Germany reaffirms its commitment to adaptation. This contribution is part of the fast start commitment under the UNFCCC, made in Copenhagen at COP 15 in 2009,” the German LDCF representative said.
Similarly, the Australian representative noted that “'Australia is very pleased to be able to continue our support to the Least Developed Countries Fund. The Fund is providing valuable assistance to countries that are particularly vulnerable to the impacts of climate change.'
Adaptation investments include: reducing glacial lake outbursts in Bhutan, harvesting rainwater across small islands states in the Pacific, generating energy efficient water irrigation in Jordan, building early warning systems to reduce malaria and dengue fever in Colombia and promoting food security in Ghana.
Currently there are 30 projects now active in the LDCF portfolio; 19 others are approved and will be implemented next year. For the SCCF, there are 18 projects underway with another 12 slated to start next year.

About the LDCF
The Least Developed Countries Fund (LDCF) was established under the United Nations Framework Convention on Climate Change (UNFCCC) at it seventh session in Marrakech in 2001, and is managed by the GEF. The Fund addresses the special needs of the Least Developed Countries (LDCs), which are especially vulnerable to the adverse impacts of climate change. This includes preparing and implementing National Adaptation Programs of Action (NAPAs), which aim is to identify “urgent and immediate needs” of each LDC.
About the SCCF
The Special Climate Change Fund (SCCF) was established under the UN Framework Convention on Climate Change (UNFCCC) in 2001 to finance activities, programs, and measures relating to climate change that are complementary to those funded by the resources allocated to the Climate Change Focal Area of the GEF and by bilateral and multilateral funding.