In our operations, we have established mechanisms to ensure accountability, manage risk, and to evaluate the performance of our activities, in order to ensure the application of safeguards as well as internationally accepted standards.
As part of its accountability mechanisms, GCF has established systems to manage project risk, both upstream (before project approval) and downstream (whilst projects are being implemented). GFC’s Project Risk Management System, which is anchored in its Risk Management Framework (RMF), approved by the Board, provides an overview of these systems. Systems for risk management include GCF’s accreditation process, the GCF funding proposal review process, and the Portfolio Performance Management System (PPMS).
The Independent Evaluation Unit (IEU) ensures GCF is accountable and is open to continuous learning. These are central to GCF’s role as a learning organisation as stipulated in its initial strategic plan and its Governing Instrument, the central institutional guide for all of the Fund’s activities.
The IEU operates independently of the GCF Secretariat. Its work plan and budget are developed with the advice of the GCF Board. The IEU head is selected by, and reports to, the GCF Board.
The Independent Integrity Unit (IIU) ensures all GCF staff, in addition to external stakeholders, implementing entities and intermediaries relating to GCF adhere to the highest standards of integrity.
The IIU investigates allegations of fraud, corruption, misconduct and other prohibited practices. These include coercive and collusive practices, abuse, conflict of interest and retaliation against whistleblowers.
This independent unit also takes a proactive approach to prevent problems arising in the future. It prevents fraud and corruption, and other prohibited practices, by establishing integrity policies and guidelines. It also recommends further improvements to existing GCF policies and procedures.
The IIU promotes awareness of GCF's integrity standards with implementing entities and intermediaries, and executing entities. It also collaborates and shares experiences with multilateral funds, international finance institutions and other relevant parties about integrity matters.
As a body independent from the GCF Secretariat, the IIU reports directly to the GCF Board and the Ethics and Audit Committee, which is made up of GCF Board members.
The Independent Redress Mechanism (IRM) responds to complaints by people who feel they have been adversely affected by GCF projects or programmes failing to implement GCF operational policies and procedures. This includes allegations of a failure to follow adequate environmental and social safeguards.
The IRM can also accept requests by developing country National Designated Authorities, or focal points, for the GCF Board to reconsider funding proposals which the GCF has rejected.