Parties to the UNFCCC established the Adaptation Fund in 2008[^1] to help developing countries adapt to the impacts of climate change. The Fund has gradually evolved since then, and it’s about to embark on its newest development: a safeguard policy to ensure that its investments do not have unintended negative consequences for people or the environment.
The move represents potential progress in the effort to promote climate justice and adaptation. The Adaptation Fund holds a small but important share of global climate finance, distributing more than US$ 180 million to adaptation activities spanning 28 countries. An Environmental and Social Policy—which the Board recently released a draft of—can help ensure that that these funds do not support projects that generate unintended environmental or social impacts.