Governance

GCF is the main operating entity of the financial mechanism of the United Nations Framework Convention on Climate Change (UNFCCC). It was given the mandate to make "an ambitious contribution to the global efforts towards attaining the goals set by the international community to combat climate change." The Parties to the UNFCCC established GCF to make a significant shift towards low-emission and climate-resilient development pathways in developing countries and help achieve the goal of keeping a global temperature rise under 2 degrees Celsius. 

The relationship between the Conference of the Parties (COP) to the UNFCCC and GCF is stipulated in the arrangements between the two. The COP provides guidance annually to GCF on policies, programme priorities and eligibility criteria regarding projects funded by GCF as the main international entity operating the Financial Mechanism of the UNFCCC.

GCF has developed methods to enhance complementarity between its activities and those of other relevant entities to better mobilise the full range of financial and technical capacities to respond to the global challenge of climate change. 

The Board is charged with the governance and oversight of GCF and has full responsibility for funding decisions. It is independent and was established by the 194 Parties to the UNFCCC.  The Board has 24 members, composed of an equal number of members from developing and developed Parties to the UNFCCC.  

Committees assist the Board in its decision-making, and exercise any delegated authority under the overall authority and direction of the Board. Except for standing committees, all committees established ad hoc should have a clearly defined timeline and end date, related to the execution of its functions and should be subject to review at regular intervals.

Technical and expert panels are established by the Board to assist it in the performance of its functions, and generally only have advisory functions. These panels may include Board members, alternate members, and external experts.

The Board of the Green Climate Fund generally holds three meetings per year, and are typically attended by more than 300 participants, including observers from civil society and private sector organisations, NDAs, and Accredited Entities.