Should the Adaptation Fund seek accreditation with the Green Climate Fund?

What should be the role of the Adaptation Fund in the post-2015 climate finance regime? In particular, what should be its relation with the Green Climate Fund? This blog by Benito Müller argues that it makes sense for both the AF and the GCF to harness their complementarities by making the AF the main multilateral “retail outlet” of the GCF for concrete small and micro adaptation projects, particularly under the regular direct access modality, as pioneered by the AF. For this to happen, the AF Board must (i) become an accredited intermediary (‘funding entity’) of the GCF, and (ii) arrange a ‘complementarity MOU’ with the GCF.