Legal and technical implications of converting the AF as an Operating Entity of the Financial Mechanism

There are discussions among some developing countries concerned with the lack of resources available for the AF, as well as in the Adaptation Fund Board. One theoretical option might be to re-designate the AF as an operating entity of the financial mechanism, which has been discussed during COP18. In response to the query, this paper briefly describes the available options how to do this and its potential merits and limits, both in terms of its practicality but also the political desirability and implications on the governance arrangements related to the AF Board. It would also be useful to understand whether or not such a political process would unlock greater resources for adaptation finance.