Negotiators at climate talks in Bali on Monday agreed on the details of a fund to help the most vulnerable nations adapt to climate change. The adaptation fund, generated through a 2% levy on transactions between parties participating in the Kyoto Protocol's emissions-trading mechanism, has been accumulating for several years. But it has not yet been activated because countries could not agree on which body would approve the projects to be included in the scheme. They have now settled on the United Nation's Framework Convention on Climate Change.
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