This thesis researches the effectiveness of climate finance by observing the Adaptation Fund (AF), an international climate fund operationalised in 2007. Using qualitative analysis of the AF’s...Show moreThis thesis researches the effectiveness of climate finance by observing the Adaptation Fund (AF), an international climate fund operationalised in 2007. Using qualitative analysis of the AF’s project in Georgia it asks: “How did the Adaptation Fund influence climate policy in Georgia?”. To answer the research question, this thesis researches the effectiveness of the project in Georgia, with three factors that are considered key components of determining an effective national climate finance policy. While different definitions exist in defining effectiveness, this thesis investigates the project through Bird et al’s three factors— policy environments that support climate change investment, the institutional foundation which distributes responsibility, and the national financial system. Based on the AF’s project documents and a semi-structured interview, this thesis uses a process-tracing method to test the three factors and finally demonstrates how the AF’s project “effectively” influenced the climate policy in Georgia.Show less
