A new initiative to raise funds for Christian Aid's climate change projects has been announced recently by ground-breaking environmental consultancy and green project developer CarbonAided.

Revenue generated from the trade in carbon offsets will be channelled into projects that help developing countries adapt to the effects of climate change under the new scheme.

CarbonAided has developed an initiative to urge offset buyers to invest at least five per cent of what they spend on offsets in the purchase of adaptation credits. Christian Aid will be the first to benefit for the revenue sales of these adaptation credits, which will be ploughed into adaptation projects handled by charities on a not for profit basis.

In addition, CarbonAided has pledged to donate 10 per cent of its profit to adaptation projects.

CarbonAided's scheme anticipates the full implementation of the UN Adaptation Fund which will require that a share of the proceeds from the Clean Development Mechanism be paid into the Fund, although the fund is still several years from being fully implemented. CarbonAided's initiative goes beyond this, however, and will include all offset sales.

"The most severe effects of climate change are already being felt by poor communities in developing countries. Those communities do not contribute to the change and are least able to adapt to it," says Dick Jones OBE, former Senior Energy Adviser at DFID and now a director of CarbonAided.

"A major impact on climate change can be made by encouraging large carbon emitters to avoid and reduce their emissions through direct action and by offsetting remaining emissions. In the meantime, those suffering from the increasing frequency of catastrophic events such as drought and flooding need immediate help."

The first adaptation project to be funded by CarbonAided's Adaptation Credits is the construction of water reservoirs in the Mandera District of North-East Kenya. As a direct result of climate change, over the last fifteen years rainfall pattern in the region has been unpredictable and constantly below average. The resulting droughts have caused huge loss of life and livestock. The project is being managed by Christian Aid.

Dominic Brain, Head of Programme Funding at Christian Aid, said: "Projects that help communities in developing countries adapt to the effects of climate change are a key element of Christian Aid's strategy. It makes sense to ensure that as the market for carbon offsets develops, adaptation is not forgotten and becomes an intrinsic part of the package. CarbonAided's sale of adaptation credits will prove a valuable source of funding for future adaptation projects."