Interchange Blog
UN Creating Small Adaptation Fund by Going Carbon Neutral
The IPCC has warned us that developing nations are poised to bear the most dramatic effects of global warming, and so far we (the world) have done practically nothing to counter or prevent that fact. But the UN is trying.
This week in Bali the UN announced that it will go carbon neutral by offsetting the operations of over 20 agencies, including the office of Secretary General Ban Ki-Moon. With the money collected, the UN will invest in an Adaptation Fund to help developing countries combat the consequences of climate change in coming decades. At its start, the fund will be worth no more than $50 million, but advocates hope that number will grow as we see increasing need for a fund of its type.
The UN stepped over indecision as to who should be responsible for an adaptation fund – the World Bank or the Global Environment Facility (GEF), which has undergone criticism of its attempt to manage a sufficient fund.
The need for a pot of money devoted to adaptation is dire.
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