At its June and October 2013 meetings, the Board decided to establish the Investment Committee and the Risk Management Committee (decisions B.04/08 and B.05/13, respectively). The Board also requested that progress reports be prepared on the development of the investment framework and the risk management framework for its consideration (decision B.BM‐2013/04).

This progress report on the investment framework lays out the essential elements that will constitute a framework for the Fund’s investment policy, strategy and guidelines. It constitutes an initial undertaking at outlining the purpose, processes and parameters for the Fund’s investment framework