Policies & strategies
Policies and strategies
As part of its mandate, the GCF Board approves specific operational policies and guidelines, including for programming, project cycle, administration, and financial management. The Board also approves strategies, which guide the overall direction of Fund operations. Together, these strategies and policies establish the framework for implementation of the GCF’s Governing Instrument.
The main GCF policy frameworks, aligned with the Governing Instrument and strategies, are shown in the diagram below.
Governing Instrument
The Governing Instrument for the Green Climate Fund was approved by the Conference of the Parties to the United Nations Framework Convention on Climate Change (UNFCCC) at its seventeenth session on 11 December 2011 in Durban, South Africa.
Strategic plan & other strategies
In advance of the second Replenishment period the Board updated its Strategic Plan for 2024-2027 at B.36, setting out the major programming directions and operational and institutional priorities for GCF-2. GCF’s initial Strategic Plan was adopted in 2016 for the Initial Resource Mobilization period (2015-2019) and was then updated in 2020 for the GCF first replenishment period (2020-2023).
Private sector strategy
The Board adopted at B.32 the Private Sector Strategy, which sets out the four pillars through which the GCF aims to catalyze private climate finance in a country-driven manner to meet developing countries’ needs and the objectives of the Updated Strategic Plan.
Guidance on adaptation
The Board welcomed at B.33 the Guidance on adaptation which speaks to the GCF’s vision, strategic approach, and scope for supporting adaptation programming, and how the GCF aims to deliver this through its range of modalities that support adaptation activities.
Accreditation strategy
The Board adopted at B.34 the Accreditation Strategy, which clarifies the GCF operating model and guides the evolution of the GCF network of AEs in order to deliver on the GCF’s mandate, objectives and programming directions.
Readiness strategy 2024-2027
The Board adopted at B.37 the Readiness Strategy 2024-2027, which presents the revised strategy for the Readiness Programme that continues to serve as a critical instrument in fulfilling the GCF’s strategic vision and ambition.
Policies
GCF policy frameworks generally include a mix of top-level policies adopted by the Board to govern a specific subject matter, the related Board decisions which adopt the policies and may contain additional policy provisions, and other policy instruments (such as standards or guidelines) which further elaborate how policies should be operationalized.
Clicking on the boxes will take you to the policies in each framework. Alternately, you can search across the entire suite of policies through the search function below.
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| Title | Theme | Date |
|---|---|---|
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No-objection procedure |
Country ownership | 20 Feb 2025 |
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Risk appetite statement Adopted by decision B.40/16, paragraph (a). Updates the GCF risk appetite statement, providing direction to guide and steer the overall level of risk-taking and proactive risk management across GCF operations. The risk appetite statement is part of GCF’s risk management framework. |
Risk management | 24 Oct 2024 |
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General guidelines for the operation of Board committees Adopted by decision B.40/03, paragraph (a). Sets out the general guidelines for the operation of Board committees covering membership, chairing arrangements, accountability mechanisms, terms of reference and the scope of Secretariat support to committees. Initially adopted by decision B.32/09, paragraph (a) and updated by decision B.40/03, paragraph (a). |
Operations of the Board | 24 Oct 2024 |
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Policy for results-based payments for REDD+ Adopted by decision B.40/16, paragraph (a). Defines the integration of REDD+ results-based payment funding modality into the regular project and programming activity cycle of GCF, including specific requirements for results-based payments for REDD+, criteria for assessing proposals for results-based payments for REDD+, and additional elements of the regular project and programming activity cycle applicable to results-based payments for REDD+ |
Project approval | 24 Oct 2024 |
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Terms of reference of the Accreditation Panel Adopted by decision B.39/05. Adopts the terms of reference of the Accreditation Panel. |
Terms of reference | 18 Jul 2024 |
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Terms of reference of the Budget Committee Adopted by the decision B.38/07. Adopts the terms of reference of the Budget Committee. |
Terms of reference | 07 Mar 2024 |
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Administrative budget and accounting framework Adopted by decision B.38/07 and applicable as of 2025. This framework sets out the accounting policy of GCF and requirements related to the preparation and execution of the GCF administrative budget to enable the efficient allocation and management of financial resources for the administrative operations of the Fund and to support its mission and goals. It introduces a rolling multi-year budgeting approach aligned with GCF replenishment cycles. |
Administration | 07 Mar 2024 |
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GCF compensation philosophy Adopted by decision B.38/06. The compensation philosophy will guide compensation decisions with a distinct focus on attracting, nurturing, motivating, and retaining diverse, world-class talent. The key guiding principles of the Compensation Philosophy include competitiveness, transparency and predictability, equity, rewards, and responsibility and accountability. |
Administration | 07 Mar 2024 |
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Readiness Strategy 2024-2027 The Board adopted at B.37 the Readiness Strategy 2024-2027, which presents the revised strategy for the Readiness Programme that continues to serve as a critical instrument in fulfilling the GCF’s strategic vision and ambition. |
26 Oct 2023 | |
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Investment framework for GCF-2 |
Investment | 26 Oct 2023 |