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 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.
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.
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.
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. The main GCF policy frameworks, aligned with the Governing Instrument, are shown in the boxes below.
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.
Compliance risk policy (Component VIII)
Adopted by decision B.23/14. The compliance risk policy provides a framework to deal with compliance risks.
|Risk management framework||08 Jul 2019|
Standards for the implementation of the Anti-Money Laundering and Countering the Financing of Terrorism policy
Adopted by decision B.23/15 (a). These AML/CFT Standards set the minimum and mandatory benchmarks to prevent, detect, and investigate money laundering and financing of terrorism, and to control and manage related risk.
|Integrity policies||08 Jul 2019|
Investment criteria indicators
Adopted by decision B.22/15 (a). Adopts for a pilot period of one year investment criteria indicators to guide stakeholders in project development and approval and enhance consistency and transparency.
|Investment framework||28 Feb 2019|
Policy on restructuring and cancellation
Adopted by decision B.22/14. Sets out the mechanism for decision-making in respect of an approved funding proposal in situations of failure to fulfil conditions, extension of time, waiver of conditions, change to FPs.
|Project approval process||28 Feb 2019|
Procedures and guidelines of the Independent Redress Mechanism
Adopted by decision B.22/22. Introduces the Independent Redress Mechanism (IRM) and its key functions and objectives; addresses requests to the IRM for reconsideration of funding decisions by the GCF Board; addresses grievances and complaints to the IRM by those affected or who may be affected by GCF projects or programmes; and contains general provisions applicable to the IRM.
|Terms of reference||28 Feb 2019|
Policy on the protection of whistleblowers and witnesses
Adopted by decision B.BM-2018/21. Sets out the general principles, protections and remedies for whistleblowers and witnesses, procedural safeguards, monitoring and reporting guidelines.
|Integrity policies||21 Dec 2018|
Terms of reference of the Performance Oversight Committee of the Executive Director and Heads of Independent Units
Adopted by decision B.21/13. Adopts the terms of reference of the Performance Oversight Committee of the Executive Director and Heads of Independent Units.
|Terms of reference||20 Oct 2018|
Updated terms of reference of the Technical Advisory Panel
Adopted by decision B.BM-2018/09. Adopts the terms of reference of the independent Technical Advisory Panel.
|Terms of reference||03 May 2018|
Indigenous peoples policy
Adopted by decision B.19/11. Sets out the approach to incorporating the circumstances of indigenous peoples into decision-making while working towards climate change mitigation and adaptation.
|Sustainability policies||01 Mar 2018|
General principles and indicative list of eligible costs covered under GCF fees and project management costs
Adopted by decision B.19/09. Outlines the general principles and an indicative list of eligible costs to be covered under accredited entity fees and project management costs.
|Accreditation framework||01 Mar 2018|