The African Development Bank (AfDB), supported by the Climate Investment Funds (CIF), has awarded a contract to the Swedish consulting firm CPMA International to help develop a global Adaptation Benefit Mechanism (ABM). The ABM is supposed to serve as a business model to induce private sector investment in climate change adaption. Project-based technologies and services delivering supplementary adaption benefits to developing countires will have those benefits issued and verified as Adaption Benefits Units (ABUs). Adaption benefits are any activity that make households, communities or economies more resilient to climate shocks. Moreover they include a range of products and activites like clean cooking stoves, flood prevention solutions and access to electricity which are not directly linked to climate resilience.
African Development Bank
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