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.
Search policies & strategies
| Title | Theme | Date |
|---|---|---|
|
Investment risk policy (Component V) Adopted by decision B.19/04 (a) (i). Defines the investment risk management requirements related to the risk of failure of a Funded Activity or Readiness / Project Preparation Facility (“PPF”) Proposal to deliver the expected impact, or the risk of delay or shortfall of reflows from these activities. |
Risk management | 01 Mar 2018 |
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Non-financial risk policy (Component VI) Adopted by decision B.19/04 (a) (ii). This policy describes management approach to non-financial risks and the definition of non-financial risks. |
Risk management | 01 Mar 2018 |
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Policy on fees |
Accreditation | 01 Mar 2018 |
|
Risk dashboard (Component III) Adopted by decision B.19/04 (b). Presents an update to the risk dashboard. |
Risk management | 01 Mar 2018 |
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Environmental and social policy Adopted by decision B.19/10; applicable to all projects up to B.32. Adopts the environmental and social management system and incorporates the environmental social policy, environmental social safeguards as part of the overarching environmental and social management system; adopts the environmental social policy that articulates how the GCF will integrate environmental and social considerations into its decision-making. |
Sustainability | 01 Mar 2018 |
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Terms of reference of the permanent Trustee Adopted by decision B.19/03. Adopts the terms of reference of the permanent Trustee. |
Terms of reference | 01 Mar 2018 |
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Terms of reference for the pilot programme for REDD+ results-based payments Adopted by decision B.18/07. The objective of the RFP pilot programme for REDD-plus results-based payments is to operationalise REDD-plus results-based payments. |
02 Oct 2017 | |
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Simplified approval process pilot scheme |
Project approval | 02 Oct 2017 |
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Anti-Money Laundering and Countering the Financing of Terrorism policy Adopted by decision B.18/10 (a). Outlines the principles and minimum standards of internal AML/CFT controls which should be adhered to by the GCF to mitigate reputational, regulatory, legal and financial loss risks. |
Integrity | 02 Oct 2017 |
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Updated terms of reference of the Independent Redress Mechanism Adopted by decision B.BM-2017/10. Adopts the updated terms of reference of the Independent Redress Mechanism. |
Terms of reference | 25 Sep 2017 |