The IEU has the following objectives:
- Informs GCF Board decision making and identifies and disseminates lessons learned, contributes to guiding GCF and its stakeholders as a learning institution, and provides strategic guidance;
- Conducts periodic, independent evaluations of GCF performance to objectively assess GCF results and the effectiveness and efficiency of GCF activities; and
- Provides evaluation reports to the Conference of the Parties to the United Nations Framework Convention on Climate Change (UNFCCC) and the Paris Agreement as part of periodic reviews of the UNFCCC Financial Mechanism
The IEU carries out independent evaluations based on two important pillars.
The first is to provide rigorous, evidence-based evaluations that inform key result areas of GCF. These include identifying and measuring the transformative impact of GCF activities, and the extent to which GCF has contributed to catalysing a paradigm shift towards low-emission, climate-resilient pathways. Independent evaluations measure how much GCF has contributed to the paradigm shift. This includes assessing who has benefited, over what timeframe, and whether GCF activities could have been carried our more effectively.
The second evaluation pillar is based on enhancing GCF’s ability to learn from its activities. The IEU will help build GCF’s evaluation capacity, synthesize evaluation-related evidence and support the uptake of key learning. IEU synthesizes its findings and lessons learned to advise the GCF Board. These findings and lessons learned are expected to also inform the GCF Secretariat’s Executive Director as well as GCF stakeholders.