Boardroom

The Board, having considered document GCF/BM-2022/02 titled “Dates and venue of the thirty-first meeting of the Board”:

1. Takes note of the assessment by the Co-Chairs that the essential conditions for a Board meeting are not in place;
2. Decides, on an exceptional basis, to postpone the thirty-first meeting of the Board originally scheduled for 7–10 February 2022; and
3. Also decides that the thirty-first meeting of the Board will take place from Monday, 28 March to Thursday, 31 March 2022 in Songdo, Incheon, Republic of Korea.

The Board, having considered document GCF/BM-2022/01 titled “Accreditation of observer organizations” and through a decision taken between meetings on a no-objection basis:

Approves the accreditation of the following organizations as observer organizations to the GCF:

Civil society organizations:

Foundation R20 (R20)

The Board, having considered the limited distribution document GCF/BM-2021/26 titled “Performance review of members of the Independent Technical Advisory Panel”:

1. Takes note of the report of the Investment Committee outlining the agreement of the Committee on the re-appointment of the members of the independent Technical Advisory Panel, as presented in annex VI of document GCF/BM-2021/26;
2. Decides to re-appoint, as an exception to paragraph 12 of annex I to decision B.BM-2018/09, the following members of the independent Technical Advisory Panel for a one-year term starting on the date of the expiration of their current term:
   1. Mr. Daniel Nolasco;
   2. Mr. Felix Dayo;
   3. Ms. Marina Shvangiradze;
   4. Ms. Claudia Martinez; and
   5. Mr. Ahsan Uddin Ahmed; and
3. Further requests the Investment Committee to nominate additional experts as members of the independent Technical Advisory Panel as needed, to ensure continuity of a fully capacitated 10-member Panel, with due consideration given to the geographic and specialty coverage, which will work in accordance with the updated terms of reference of the independent Technical Advisory Panel as noted in annex I.

The Board, having considered the document GCF/BM-2021/25 titled “Election of Co- Chairs of the Board for 2022”:

Elects Mr. Jean-Christophe Donnellier and Mr. Tlou Emmanuel Ramaru as the Co-Chairs of the Board for 2022, with effect from 1 January 2022 to 31 December 2022.

The Board, having considered document GCF/BM-2021/24 titled “Investigation Standards”:

1. Approves the Investigation Standards set out in annex I to this document;
2. Requests the IIU, in consultation with the Secretariat, given the specific considerations that are applicable to administrative investigations into alleged violations of the SEAH Policy, to develop for the EAC’s consideration and approval, separate procedures governing the conduct of interviews with relevant witnesses;
3. Requests the Secretariat, in consultation with the Board, to establish an appropriate mechanism or procedure for addressing reports of suspected Wrongdoing concerning staff members, consultants or interns of the IIU, or their immediate family members, as stipulated in paragraph 27 of the Policy on Prohibited Practices;
4. Takes note of the ongoing overall policy review being conducted by the Secretariat pursuant to decision B.24/04, annex II, and requests the IIU and the Secretariat to identify any policy conflicts and inconsistencies between the Terms of Reference of the IIU, the Human Resources Legal Framework, the GCF Integrity Policies and the GCF Ethics Policies, including through such review process, and to present any necessary amendments to such documents for the Board’s consideration, following consultation with the EAC as appropriate; and
5. Authorizes the EAC to address issues that may arise in the implementation of the Investigation Standards and to refer matters it deems appropriate for the consideration of the Board.

The Board, having considered document GCF/BM-2021/23 titled “Status of approved funding proposals: extension of deadline in respect of FP145 (RELIVE – REsilient LIVElihoods of vulnerable smallholder farmers in the Mayan landscapes and the Dry Corridor of Guatemala)

Decides to extend the deadline until 7 May 2022 for the execution of the funded activity agreement, in a form and substance satisfactory to the Secretariat, for following approved funding proposal:

1. FP145, titled “RELIVE – REsilient LIVElihoods of vulnerable smallholder farmers in the Mayan landscapes and the Dry Corridor of Guatemala”.

The Board, having reviewed document GCF/BM-2021/22 titled “Status of approved funding proposals: Adding new host countries to FP128 (Arbaro Fund – “Sustainable Forestry Fund”)”:

1. Takes note of the two no-objection letters for FP128 submitted by the national designated authorities for Colombia and Guatemala;
2. Approves the inclusion of Colombia and Guatemala as host countries for FP128; and
3. Authorizes the Secretariat to take such steps as might be necessary pursuant to the funded activity agreement and other legal documentation for FP128 to give effect to this decision.

The Board, having considered document GCF/BM-2021/15 titled “Tenth Report of the Green Climate Fund to the Conference of the Parties to the United Nations Framework Convention on Climate Change”:

Requests the Co-Chairs, assisted by the Secretariat, to finalize the “Tenth Report of the Green Climate Fund to the Conference of the Parties to the United Nations Framework Convention on Climate Change”, presented in annex VIII, taking into consideration the comments made and decisions taken at the twenty-ninth and thirtieth meetings of the Board, and submit the revised report to the United Nations Framework Convention on Climate Change secretariat, in accordance with decision 7/CP.20, paragraph 23.

The Board, having considered document GCF/B.30/07 titled “Independent Assessment of the GCF Simplified Approval Process (SAP) Pilot Scheme” and its Add.01 titled “Secretariat management response to the Independent Assessment of the Green Climate Fund’s Simplified Approval Process (SAP) Pilot”:

1. Takes note of the assessment of the GCF Simplified Approval Process Pilot Scheme by the Independent Evaluation Unit, completed in accordance with the Board-approved workplan of the Independent Evaluation Unit;
2. Also takes note of the Secretariat’s management response to the assessment as presented in document GCF/B.30/07/Add.01;
3. Requests the Independent Evaluation Unit to submit a management action report to the Board no later than one year following the adoption of this decision.

The Board, having considered document GCF/B.30/02/Rev.01 titled “Consideration of funding proposals”:

1. Takes note of the following funding proposals:
   1. Funding proposal 169 titled “Climate change adaptation solutions for Local Authorities in the Federated States of Micronesia”, by the Pacific Community, as contained in document GCF/B.30/02/Add.01 and Add.19;
   2. Funding proposal 170 titled “Enhancing climate resilience in Thailand through effective water management and sustainable agriculture”, by the United Nations Development Programme, as contained in document GCF/B.30/02/Add.02 and Add.19;
   3. Funding proposal 171 titled “Enhancing Early Warning Systems to build greater resilience to hydro-meteorological hazards in Timor-Leste”, by the United Nations Environment Programme, as contained in document GCF/B.30/02/Add.03 and Add.19;
   4. Funding proposal 172 titled “Mitigating GHG emission through modern, efficient and climate friendly clean cooking solutions (CCS)”, by the Alternative Energy Promotion Centre, Ministry of Energy, Water Resources and Irrigation, Government of Nepal, as contained in document GCF/B.30/02/Add.04 and Add.19;
   5. Funding proposal 173 titled “The Amazon Bioeconomy Fund: Unlocking private capital by valuing bioeconomy products and services with climate mitigation and adaptation results in the Amazon”, by the Inter-American Development Bank, as contained in document GCF/B.30/02/Add.05 and Add.19;
   6. Funding proposal 174 titled “Ecosystem-based Adaptation to increase climate resilience in the Central American Dry Corridor and the Arid Zones of the Dominican Republic”, by the Central American Bank for Economic Integration, as contained in document GCF/B.30/02/Add.20 and Add.19;
   7. Funding proposal 175 titled “Enhancing community resilience and water security in the Upper Athi River Catchment Area, Kenya”, by the National Environment Management Authority, as contained in document GCF/B.30/02/Add.07 and Add.19;
   8. Funding proposal 176 titled “Hydro-agricultural development with smart agriculture practices resilient to climate change in Niger”, by the Banque Ouest Africaine de Développement, as contained in document GCF/B.30/02/Add.08 and Add.19;
   9. Funding proposal 177 titled “Cooling Facility”, by the World Bank, as contained in document GCF/B.30/02/Add.09 and Add.19;
   10. Funding proposal 178 titled “Desert to Power G5 Sahel Facility”, by the African Development Bank, as contained in document GCF/B.30/02/Add.14;
   11. Funding proposal 179 titled “Tanzania Agriculture Climate Adaptation Technology Deployment Programme (TACATDP)”, by the CRDB Bank PLC, as contained in document GCF/B.30/02/Add.15;
   12. Funding proposal 180 titled “Global Fund for Coral Reefs Investment Window”, by Pegasus Capital Advisors, as contained in document GCF/B.30/02/Add.16/Rev.01; and
   13. Funding proposal 181 titled “CRAFT - Catalytic Capital for First Private Investment Fund for Adaptation Technologies in Developing Countries”, by Pegasus Capital Advisors, as contained in document GCF/B.30/02/Add.17;
2. Takes note of the exceptional circumstances with regard to the matter of full compliance with the provision of no-objection letters as they relate to programmes submitted to the GCF, and further confirms that funding proposal 180 does not set a precedent;
3. Confirms that only countries that have provided a letter of no-objection that is fully in compliance with the initial no-objection procedure approved by the Board by decision B.08/10 can be considered by the Board;
4. Approves funding proposal 169 for the amount of USD 16,591,556, submitted by the Pacific Community, subject to the conditions set out in annex I and in the respective term sheet set out in document GCF/B.30/02/Add.19;
5. Also approves funding proposal 170 for the amount of USD 17,533,500, submitted by the United Nations Development Programme, subject to the conditions set out in document GCF/B.30/02/Add.18 and in the respective term sheet set out in document GCF/B.30/02/Add.19;
6. Further approves funding proposal 171 for the amount of USD 20,980,722, submitted by the United Nations Environment Programme, subject to the conditions set out in annex I and in the respective term sheet set out in document GCF/B.30/02/Add.19;
7. Approves funding proposal 172 for the amount of USD 21,128,224, submitted by the Alternative Energy Promotion Centre, Ministry of Energy, Water Resources and Irrigation, Government of Nepal, subject to the conditions set out in annex I and in the respective term sheet set out in document GCF/B.30/02/Add.19;
8. Also approves funding proposal 173 for the amount of USD 279,000,000, submitted by the Inter-American Development Bank, subject to the conditions set out in annex I and in the respective term sheet set out in document GCF/B.30/02/Add.19;
9. Further approves funding proposal 174 for the amount of USD 174,300,000, submitted by the Central American Bank for Economic Integration, subject to the conditions set out in annex I and in the respective term sheet set out in document GCF/B.30/02/Add.19;
10. Approves funding proposal 175 for the amount of USD 9,526,603, submitted by the National Environment Management Authority, subject to the conditions set out in annex I and in the respective term sheet set out in document GCF/B.30/02/Add.19;
11. Also approves funding proposal 176 for the amount of EUR 30,138,772, submitted by the Banque Ouest Africaine de Développement, subject to the conditions set out in annex I and in the respective term sheet set out in document GCF/B.30/02/Add.19;
12. Further approves funding proposal 177 for the amount of USD 157,000,000, submitted by the World Bank, subject to the conditions set out in annex I and in the respective term sheet set out in document GCF/B.30/02/Add.19;
    1. Requests the Secretariat to circulate to the Board the respective assessments included in the relevant cooling sector-related baseline studies pursuant to the condition set out in annex I for funding proposal 177, following their satisfactory submission by the World Bank to the Secretariat;
13. Approves funding proposal 178 for the amount of USD 150,000,000, submitted by the African Development Bank, subject to the conditions set out in annex I and in the respective term sheet set out in document GCF/B.30/02/Add.14;
14. Also approves funding proposal 179 for the amount of USD 100,000,000, submitted by the CRDB Bank PLC, subject to the conditions set out in annex I and in the respective term sheet set out in document GCF/B.30/02/Add.15;
15. Further approves funding proposal 180 for the amount of USD 125,000,000, submitted by Pegasus Capital Advisors, subject to the conditions set out in annex I and in the respective term sheet set out in document GCF/B.30/02/Add.16/Rev.01;
16. Approves funding proposal 181 for the amount of USD 100,000,000, submitted by Pegasus Capital Advisors, subject to the conditions set out in annex I and in the respective term sheet set out in document GCF/B.30/02/Add.17;
17. Reaffirms that pursuant to annex IV to decision B.17/09, the Executive Director or his designee is authorized to negotiate and enter into legal agreements on behalf of the GCF with accredited entities and other parties involved in respect of funding proposals approved by the Board, taking into account any condition approved by the Board in this decision and in the decision accrediting the relevant accredited entity; and
18. Authorizes the Secretariat to disburse fees for each funded project/programme approved by the Board as per the disbursement schedule to be agreed in the funded activity agreement in accordance with the policy on fees and the general principles and indicative list of eligible costs covered under GCF fees and project management costs adopted by the Board pursuant to decision B.19/09.

The Board, having considered limited distribution document GCF/B.30/05 titled “Status of approved funding proposals: extension of deadline in respect of SAP018 (Enhancing Climate Information Systems for Resilient Development in Liberia (Liberia CIS))”:
Decides to extend the deadline until 6 February 2022 for submission by the accredited entity of a certificate or a legal opinion, in a form and substance satisfactory to the Secretariat, confirming that the accredited entity has obtained all final internal approvals needed by it and has the capacity and authority to implement the proposed project/programme, for the following approved funding proposal:

1. SAP018, titled “Enhancing Climate Information Systems for Resilient Development in Liberia (Liberia CIS)”.

The Board, having considered document GCF/B.30/03 titled “Consideration of accreditation proposals”:

1. Takes note with appreciation of the assessments conducted by the Secretariat and the Accreditation Panel contained within the relevant annexes for the following applicants for re-accreditation:
   1. Applicant R008 (RAPL008) is the Environmental Investment Fund (EIF), based in Namibia, as contained in annex II to this document;
   2. Applicant R024 (RAPL024) is the Development Bank of South Africa (DBSA), based in South Africa, as contained in annex IV to document GCF/B.30/03;
   3. Applicant R031 (RAPL031) is the International Union for Conservation of Nature (IUCN), based in Switzerland, as contained in annex III to this document; and
   4. Applicant R007 (RAPL007) is the United Nations Development Programme (UNDP), based in the United States of America, as contained in annex IV to this document; and pursuant to paragraph 45 of the Governing Instrument for the GCF, subject to, and in accordance with, the assessments by the Accreditation Panel contained in the relevant annexes for each of the applicants, and subject to the completion of Stage III of the accreditation by having an effective amendment to the accreditation master agreement, in accordance with decision B.24/13;
2. Approves the re-accreditation of applicant RAPL008, the Environmental Investment Fund (EIF), based in Namibia, as contained in annex II to this document;
3. Approves the re-accreditation of applicant RAPL031, the International Union for Conservation of Nature (IUCN), based in Switzerland, as contained in annex III to this document;
4. Also approves the re-accreditation of applicant RAPL007, United Nations Development Programme (UNDP), based in the United States of America, as contained in annex IV to this document;
5. Takes note with appreciation of the assessment conducted by the Secretariat and the Accreditation Panel contained within the same annex IV for the following applicant seeking to upgrade its accreditation type: (i) United Nations Development Programme (UNDP) based in the United States of America, as contained in annex IV;
6. Agrees to upgrade the accreditation type of the United Nations Development Programme (UNDP) as contained in decision B.09/07, paragraph (b), subject to, and in accordance with the assessment by the Accreditation Panel contained in annex IV;
7. Takes note that, pursuant to decision B.08/03, paragraph (k), the Secretariat, in consultation with the Accreditation Panel, is proposing that the eligibility to apply under the fast-track accreditation process be extended to those entities listed in annex V; and
8. Decides that those entities referred to in annex V are also eligible to apply under the fast-track accreditation process for the standards of GCF in accordance with decision B.08/03, paragraph (f), for entities under the Adaptation Fund.

The Board, having considered document GCF/B.30/08 titled “Review of Secretariat capabilities to deliver the updated Strategic Plan for 2020 – 2023”:

1. Recalls that successful delivery of the GCF strategic vision, objectives and priorities for 2020–2023 is critically dependent on GCF taking steps to evolve its operating modalities and institutional capacity to successfully execute its programming strategy;
2. Notes the contents of document GCF/B.30/08;
3. Urges the Secretariat to enhance efforts to improve speed, predictability, access, impact, quality, efficiency, effectiveness and transparency, including through implementation of the further business process improvements identified in document GCF/B.30/08;
4. Agrees to and adopts the proposed Secretariat headcount of full-time equivalent staff of:
   1. 300 positions for 2022; and
   2. 350 positions for 2023;
5. Takes note that the build-up of staff headcount will be implemented on a phased basis over 2022, 2023 and 2024, in conjunction with the annual work programming and budgeting processes, and in conjunction with an overall reduction of the operating expense ratio of the Secretariat from 1.0 per cent to 0.7 per cent of assets under management;
6. Approves additional administrative budget for the GCF Secretariat as follows, recognizing these amounts supplement the budget for staff salaries and emoluments approved under annual budgeting processes:
   1. USD 1,602,438 for 2022 staff salaries and emoluments;
   2. USD 10,819,966 for 2023 staff salaries and emoluments; and
   3. USD 15,674,915 for 2024 staff salaries and emoluments;
7. Encourages the Secretariat to improve both geographical and gender balance consistent with paragraph 21 of the Governing Instrument for the GCF;
8. Requests the Secretariat, in filling new recruitments, to promote and improve geographical and gender balance, and to report to the Board in this regard on a regular basis;
9. Agrees to update the Secretariat structure to formalize a Division of Portfolio Management, recognizing the growing implementation responsibilities of GCF;
10. Requests the Secretariat to present a review of its organizational structure in conjunction with the strategic planning for the GCF second replenishment programming period;
11. Takes note of the views expressed by Board members regarding options for establishing a GCF regional presence, and requests the Secretariat to consult Board and alternate members and to present terms of reference for a feasibility study further examining options for a GCF regional presence, for consideration as a decision between meetings no later than March 2022; and
12. Confirms that the feasibility study does not prejudge the Board’s decision on a GCF regional presence.

The Board, having considered document GCF/B.30/09 titled “2022 work programme of the Secretariat and annual administrative budget of the GCF Secretariat, Board and Trustee”:

1. Recognizes that the work programme will help to guide the activities of the Secretariat during 2022;
2. Approves the 2022 work programme and the goals and suggested priorities set out therein, in accordance with paragraph 23(e) of the Governing Instrument for the GCF;
3. Urges the Secretariat, in working to implement the target agreed under decision B.27/06, to significantly increase funding channelled through direct access entities, to support a greater number and diversity of direct access entities to undertake programming with GCF and promote participation of local private sector actors and micro, small and medium-sized entities, including through technical assistance and capacity development for concept note and funding proposal preparation, approval and implementation, recognizing that this requires capacity and resources for sustained engagement on the part of both the Secretariat and direct access entities;
4. Approves an administrative budget for the GCF Secretariat found in table 6 of annex II to document GCF/B.30/09 for the period 1 January 2022 to 31 December 2022 in the amount of USD 79,399,930, which includes 28,641,111 in new funding as well as the USD 50,758,819 for 2022 staff salaries and emoluments that was approved by the Board in decision B.24/05;
5. Notes that the increase in consultancy budget requested in 2022 is contextualized with reference to the Secretariat’s 250 staff headcount and represents a short-term measure to bridge the capacity gaps of the Secretariat to meet its work programme goals in alignment with the updated Strategic Plan, while also noting that the consultancy budget will be expected to be reduced if the Secretariat’s staff headcount is increased;
6. Recognizes that the new funding of USD 28,641,111 includes a contingency budget of USD 1,556,861. The contingency budget will be used to support both the Secretariat and the independent units;
7. Requests the Executive Director to consult with the Budget Committee on the allocation of the contingency budget;
8. Approves USD 57,565,805 for projected staff salaries and emoluments for 2024;
9. Also approves a budget for the Board in the amount of USD 4,767,656 as found in table 5 of annex II to document GCF/B.30/09;
10. Further approves a budget for the Trustee in the amount of USD 3,646,000 as included in table 19 of annex II to document GCF/B.30/09;
11. Recalls decision B.22/20, paragraph (b); and
12. Requests, notwithstanding decision B.22/20, paragraph (b), the Secretariat, in consultation with the Budget Committee, to develop a proposal for updates to the GCF’s salary scale and current benefits and allowances, and to present such proposal for the Board’s consideration at its first meeting in 2022.

The Board, having considered document GCF/B.30/10 titled “Independent Redress Mechanism Work Plan and Budget for 2022”:

1. Approves the work plan and the administrative budget of the Independent Redress Mechanism for the year 2022 in the amount of USD 1,645,915, as contained in annex II and III, respectively, to document GCF/B.30/10; and
2. Notes that the Independent Redress Mechanism’s budget is based on curtailed travel expenses due to the evolving situation with regard to the COVID-19 pandemic, and that the Independent Redress Mechanism may need to present a supplementary budget for travel and case-related expenses in 2022 for the consideration and approval of the Board.

The Board, having considered document GCF/B.30/11 titled “Work Programme and Budget of the Independent Integrity Unit for 2022”:

1. Approves the work programme and budget of the Independent Integrity Unit for 2022, as contained in annexes II and III to document GCF/B.30/11 (total budgeted amount of USD 3,102,910); and
2. Requests the Budget Committee and the Ethics and Audit Committee to review the budget execution during 2022 and acknowledge that the Independent Integrity Unit may present to the Board, for its consideration at its thirty-second meeting, an additional budgetary request to execute its work programme for 2022.

The Board, having considered document GCF/B.30/12 titled “Independent Evaluation Unit 2022 Work Plan and Budget and Update of its Three-year Objectives and Work Plan”:

1. Approves the work plan and budget of the Independent Evaluation Unit for 2022 as contained in annex VI (total budgeted amount of USD 6,487,012);
2. Requests the Budget Committee to review the budget execution during 2022 and acknowledges that the Independent Evaluation Unit may present to the Board for consideration at its thirty-second meeting an additional budgetary request to execute its workplan for 2022;
3. Notes the update on the Independent Evaluation Unit’s rolling three-year work plan, outlined in annex VII as requested by the Board to ensure flexibility, learning and predictability for the Independent Evaluation Unit; and
4. Recalls decision B.24/04 and the Board-endorsed four-year policy cycle, and decision B.27/06, paragraph (p), and requests the Independent Evaluation Unit to deliver urgently the outputs from the review so that they can inform the Board in a timely manner in its review of the Strategic Plan for the GCF 2020–2023.

The Board:

1. Underscores the provisions of the Governing Instrument for the GCF, the Evaluation Policy for the GCF and the terms of reference of the Independent Evaluation Unit that specify, among other provisions, that:
   1. The GCF is a continuously learning institution guided by processes for monitoring and evaluation;
   2. The purpose of independent evaluations is to inform decision-making and to identify and disseminate lessons learned;
   3. Evaluation results should feed back into the development, update and design of strategies, policies and operations, thus contributing to enhancing the quality of the overall performance of GCF; and
   4. The Board is expected to actively consider findings and recommendations from Independent Evaluation Unit evaluations and incorporate them into the policies and advice the Board provides to GCF overall;
2. Confirms that the consideration of the simplified approval process policy at the thirtieth meeting of the Board does not prejudge future Board deliberations;
3. Urges the Co-Chairs to ensure that, in future Board meetings, the Board will actively consider evaluations, in line with the Evaluation Policy for the GCF;
4. Invites members and alternate members of the Board to consider the findings and recommendations of the following evaluations and the corresponding Secretariat management responses, and to provide any comments not later than 10 December 2021:
   1. Independent evaluation of the GCF’s country ownership approach;
   2. Independent evaluation of the GCF’s environmental and social safeguards and the environmental and social management system;
   3. Independent synthesis of the GCF’s accreditation function;
   4. Rapid assessment of the GCF’s request for proposals modality; and
   5. Independent evaluation of the GCF’s approach to the private sector; and
5. Requests the Independent Evaluation Unit to prepare a summary of views expressed by members and alternate members of the Board on each of the evaluations referred to in paragraph (d) above, so that these views can be incorporated into Board discussions and decisions on related policy items.

The Board, having considered document GCF/B.30/16/Rev.01 titled “Dates and venues of upcoming meetings of the Board”:

1. Decides that the thirty-first meeting of the Board will take place from Monday 7 February to Thursday, 10 February 2022 in Songdo, Incheon, Republic of Korea, should conditions allow for an in-person meeting;
2. Also decides that the thirty-second meeting of the Board will take place from Monday, 9 May to Thursday, 12 May 2022;
3. Further decides that the thirty-third meeting of the Board will take place from Monday, 27 June to Thursday, 30 June 2022;
4. Decides that the thirty-fourth meeting of the Board will take place from Monday, 24 October to Thursday, 27 October 2022;
5. Underscores the importance of the full participation and involvement of the entire Board from all constituencies in the Board meetings and pre-Board meeting consultation process as an essential condition for holding an effective and full participatory meeting; and
6. Requests the Co-Chairs to continue to monitor the impact of the COVID-19 pandemic on the operations of GCF, and to report to the Board appropriately.

The Board, having considered document GCF/BM-2021/21 titled “Accreditation of observer organizations” and through a decision taken between meetings on a no-objection basis:

Approves the accreditation of the following organizations as observer organizations to the GCF:

Civil society organizations:
Environmental Awareness Group (EAG)
Rare Inc.

The Board, having considered document GCF/BM-2021/17, titled “Revisions to the Green Climate Fund’s Environmental and Social Policy to reaffirm the Fund’s commitment to addressing Sexual Exploitation, Sexual Abuse, and Sexual Harassment”:

1. Reiterates the commitment of GCF to the highest standards of integrity, including its zero tolerance for sexual exploitation, sexual abuse and sexual harassment;
2. Adopts the revised Environmental and Social Policy as set out in annex I to this document to replace the Environmental and Social Policy adopted by the Board pursuant to decision B.19/10 with respect to projects and programmes approved at or after the thirty-second meeting of the Board;
3. Decides that the revised Environmental and Social Policy adopted by this decision will apply to all GCF-financed projects and programmes submitted for consideration by the Board on or after the thirty-second meeting of the Board, and that the Environmental and Social Policy adopted by the Board pursuant to decision B.19/10 will apply to GCF-financed projects and programmes submitted for consideration by the Board prior to the thirty-second meeting of the Board;
4. Requests the Secretariat to develop a Sexual Exploitation, Sexual Abuse, and Sexual Harassment Action Plan as described in the revised Environmental and Social Policy adopted by this decision, no later than the thirty-first meeting of the Board; and
5. Approves the budget for the implementation of the revised Environmental and Social Policy, for the total budgeted amount of USD 320,650.

The Board, having considered document GCF/BM-2021/16 titled “Additional administrative budget for Phase I of the remedial activities addressing monitoring and evaluation gaps in the GCF portfolio”:

1. Recalls decision B.28/02 in relation to the document GCF/B.28/04 and in line with the Board approval of the Secretariat actions to advance remedial measures addressing the gaps in the current portfolio;
2. Approves additional administrative budget of USD 712,400 for advancing activities under Phase I of the remedial actions; and
3. Requests the Secretariat to immediately initiate the procurement process for retaining a vendor to support the remedial activities under Phase I of the remedial activities.

The Board, having considered document GCF/BM-2020/18/Rev.01 titled “Guidelines to facilitate Board consideration of IRM reports on reconsideration requests, grievances or complaints”:

1. Adopts the Guidelines as set out in annex I to this document; and
2. Agrees to delete:
   1. The words “as soon as possible or at the next Board meeting” from paragraph 19 of the Procedures and Guidelines of the Independent Redress Mechanism as adopted by the Board in decision B.22/22 (“Procedures and Guidelines”); and
   2. The final sentence from paragraph 63 of the said Procedures and Guidelines.

The Board, having considered document GCF/B.29/12 titled “Integrated Results Management Framework”:

1. Approves the integrated results management framework, including the proposed core and supplementary indicators and approach as set out in annex I, while noting explicitly that these replace the initial results management framework set out in decision B.07/04 and mitigation and adaptation performance measurement frameworks set out in decision B.08/07;
2. Confirms that the new integrated results management framework indicators do not replace the eight GCF results areas, nor are they to be used in deciding the eligibility of projects and/or programmes submitted to GCF;
3. Reaffirms that the resource allocation parameters agreed in the Updated Strategic Plan for the Green Climate Fund: 2020–2023 through decision B.27/06 remain unchanged;
4. Confirms that ex post results to be collected via the implementation of the integrated results management framework will not be used differently from the current results management and performance measurement frameworks for ex ante assessment of funding proposals by the Secretariat, the independent Technical Advisory Panel and the Board;
5. Requests the Secretariat to develop and present to the Board for approval an accompanying results handbook, taking into account feedback received from accredited entities, national designated authorities and focal points, and other GCF stakeholders, on the application of the integrated results management framework;
6. Also requests the Secretariat to implement capacity-building initiatives on results management, measurement and reporting systems for accredited entities and other relevant stakeholders to enable effective implementation of the integrated results management framework;
7. Decides to allocate an additional amount of up to USD 12.4 million under the Readiness and Preparatory Support Programme as a new dedicated support component to be provided directly to direct access entities, including regional direct access entities, to support the implementation of the integrated results management framework;
8. Requests the Secretariat to operationalize this funding window to allow direct access entities to request such funds directly;
9. Notes that in allocating the additional amount to direct access entities, consideration could be given to the different capacity gaps of direct access entities as well as to country context and specificities, including for the least developed countries, Small Island Developing States and African States;
10. Decides that readiness commitments through the dedicated funding window referred to in paragraph (g) above are not included in and do not form part of the existing USD 1 million cap per country per year under the Readiness and Preparatory Support Programme referred to in decision B.08/11, paragraph (f), and are not subject to clearance by direct access entities;
11. Requests the Secretariat to inform national designated authorities of support rendered to direct access entities within their national mandate;
12. Also requests the Secretariat to track results as part of its annual reporting under the Updated Strategic Plan for the Green Climate Fund: 2020–2023, using the results tracking tool aligned with the integrated results management framework; and
13. Further requests the Secretariat to review the integrated results management framework on an ongoing basis, in consultation with accredited entities, national designated authorities and focal points, and other relevant stakeholders, and, if action by the Board is required as a result of the review, to present recommendations to the Board for its consideration and approval.

The Board, having considered document GCF/B.29/02/Rev.02 titled “Consideration of funding proposals”:

1. Takes note of the following funding proposals:
   1. Funding proposal 165 titled “Building Climate Resilient Safer Islands in the Maldives”, by the Japan International Cooperation Agency, as contained in document GCF/B.29/02/Add.01 and 07;
   2. Funding proposal 166 titled “Light Rail Transit for the Greater Metropolitan Area (GAM)”, by the Central American Bank for Economic Integration, as contained in document GCF/B.29/02/Add.02 and 07;
   3. Funding proposal 167 titled “Transforming Eastern Province through Adaptation” by the International Union for Conservation of Nature, as contained in document GCF/B.29/02/Add.03/Rev.02 and 07; and
   4. Funding proposal 168 titled “Leveraging Energy Access Finance (LEAF) Framework”, by the African Development Bank, as contained in document GCF/B.29/02/Add.05;
2. Approves funding proposal 165 for the amount of USD 25,097,880, submitted by the Japan International Cooperation Agency, subject to the conditions set out in annex II and in the respective term sheet set out in document GCF/B.29/02/Add.07;
3. Also approves funding proposal 166 for the amount of USD 271,300,000, submitted by the Central American Bank for Economic Integration, subject to the conditions set out in annex II and in the respective term sheet set out in document GCF/B.29/02/Add.07;
4. Further approves funding proposal 167 for the amount of USD 33,783,755, submitted by the International Union for Conservation of Nature, subject to the conditions set out in annex II and in the respective term sheet set out in document GCF/B.29/02/Add.07;
5. Approves funding proposal 168 for the amount of USD 170,900,000, submitted by the African Development Bank, subject to the conditions set out in annex II and in the respective term sheet set out in document GCF/B.29/02/Add.05;
6. Reaffirms that pursuant to annex IV to decision B.17/09, the Executive Director or his designee is authorized to negotiate and enter into legal agreements on behalf of the GCF with accredited entities and other parties involved in respect of funding proposals approved by the Board, taking into account any condition approved by the Board in this decision and in the decision accrediting the relevant accredited entity; and
7. Authorizes the Secretariat to disburse fees for each funded project/programme approved by the Board as per the disbursement schedule to be agreed in the funded activity agreement in accordance with the policy on fees and the general principles and indicative list of eligible costs covered under GCF fees and project management costs adopted by the Board pursuant to decision B.19/09.

The Board, having considered limited distribution document GCF/B.29/04 titled “Status of approved funding proposals: extension of deadline in respect of SAP010 (Multi-Hazard Impact-Based Forecasting and Early Warning System for the Philippines)”:

Decides to extend the deadline until 22 December 2021 for the execution of the funded activity agreement, in a form and substance satisfactory to the Secretariat, for the following approved funding proposal:

1. SAP010, titled “Multi-Hazard Impact-Based Forecasting and Early Warning System for the Philippines”.

The Board, having considered limited distribution document GCF/B.29/10 titled “Status of approved funding proposals: Extension of deadline in respect of FP153 (Mongolian Green Finance Corporation)”:

Decides to extend the deadline until 8 November 2021 for the submission by the accredited entity of a certificate or legal opinion, in form and substance satisfactory to the Secretariat, confirming that the accredited entity has obtained all final internal approvals needed by it and has the capacity and authority to implement the proposed programme for the following approved funding proposal:

1. FP153, titled “Mongolian Green Finance Corporation”.

The Board, having considered document GCF/B.29/07 titled “Consideration of accreditation proposals”:

1. Takes note with appreciation of the assessments conducted by the Secretariat and the Accreditation Panel contained within the relevant annexes for the following applicants:
   1. Applicant 106 (APL106) is the Development Bank of the Philippines (DBP), based in Philippines, as contained in annex III;
   2. Applicant 107 (APL107) is the Development Bank of Zambia (DBZ), based in Zambia, as contained in annex IV;
   3. Applicant 108 (APL108) is the Infrastructure Development Bank of Zimbabwe (IDBZ), based in Zimbabwe, as contained in annex V;
   4. Applicant 109 (APL109) is the Moroccan Agency for Sustainable Energy S.A., (Masen), as contained in annex VI;
   5. Applicant 110 (APL110) is the Vietnam Development Bank (VDB), based in Viet Nam, as contained in annex VII;
   6. Applicant 111 (APL111) is the Korea International Cooperation Agency (KOICA), based in the Republic of Korea, as contained in annex VIII;
   7. Applicant 112 (APL112) is Nacional Financiera, S.N.C., Banca de Desarrollo (NAFIN) based in Mexico, as contained in annex IX;
   8. Applicant 113 (APL113) is the Joint Stock Company TBC Bank (TBC) based in Georgia, as contained in annex X;
   9. Applicant 114 (APL114) is the Inter-American Institute for Cooperation on Agriculture (IICA) based in Costa Rica, as contained in annex XI; and
2. Recalls decision B.26/06, paragraph (c), wherein the Board decided, at the request of applicant 100 (APL100, Sumitomo Mitsui Banking Corporation (SMBC) based in Japan), to defer the consideration of APL100, as contained in annex IV to document GCF/B.26/03, until no later than the twenty-eighth meeting of the Board;
3. Further recalls decision B.12/30, paragraph (c), in which the Board underlines its expectation that accredited entities will advance the goal of the GCF to promote the paradigm shift towards low-emission and climate-resilient development pathways in the context of sustainable development;
4. Recalls decision B.27/06, paragraph (a), where the Board endorsed the Updated Strategic Plan for the Green Climate Fund: 2020-2023, in which the GCF committed to foster climate mainstreaming across its partnership network, including through active collaboration with entities seeking accreditation to mainstream climate considerations more broadly across their operations and portfolios to drive institutional transformation;
5. Further recalls, pursuant to decision B.24/13 and annex XXVI thereto, that the re-accreditation decision by the Board will take into account the Secretariat and Accreditation Panel’s assessment of the extent to which the accredited entity’s overall portfolio of activities beyond those funded by the GCF has evolved in this direction during the accreditation period;
6. Takes note with appreciation of APL100 new climate policy and action plan (announced as of 12 May 2021, also available in the document GCF/B.29/07/Add.03), and underlines its relevance for the group’s application to the status of Green Climate Fund Accredited Entity;
7. Approves accreditation of the applicant 100 (APL100), Sumitomo Mitsui Banking Corporation (SMBC), based in Japan, as contained in annex IV to document GCF/B.26/03, pursuant to paragraph 45 of the Governing Instrument for the GCF, subject to, and in accordance with, the assessments by the Accreditation Panel and subject to the completion of Stage III of accreditation by having an effective accreditation master agreement, in accordance with decision B.23/11;
8. Further approves accreditation of the applicant 106 (APL106), the Development Bank of the Philippines (DBP), based in Philippines, as contained in annex III;
9. Further approves accreditation of the applicant 107 (APL107), the Development Bank of Zambia (DBZ), based in Zambia, as contained in annex IV;
10. Further approves accreditation of the applicant 108 (APL108), the Infrastructure Development Bank of Zimbabwe (IDBZ), based in Zimbabwe, as contained in annex V;
11. Further approves accreditation of the applicant 109 (APL109), the Moroccan Agency for Sustainable Energy S.A., (Masen), as contained in annex VI;
12. Further approves accreditation of the applicant 110 (APL110), the Vietnam Development Bank (VDB), based in Viet Nam, as contained in annex VII;
13. Further approves accreditation of the applicant 111 (APL111), the Korea International Cooperation Agency (KOICA), based in the Republic of Korea, as contained in annex VIII;
14. Further approves accreditation of the applicant 112 (APL112), Nacional Financiera, S.N.C., Banca de Desarrollo (NAFIN) based in Mexico, as contained in annex IX;
15. Further approves accreditation of the applicant 113 (APL113), the Joint Stock Company TBC Bank (TBC) based in Georgia, as contained in annex X;
16. Approves accreditation of the applicant 114 (APL114), the Inter-American Institute for Cooperation on Agriculture (IICA) based in Costa Rica, as contained in annex XI;
17. Takes note with appreciation of the assessment conducted by the Secretariat and the Accreditation Panel contained within annex XIII for the following applicant seeking to upgrade its accreditation type:
    1. International Fund for Agricultural Development (IFAD) based in Italy, as contained in annex XII; and
18. Agrees to upgrade the accreditation type of the International Fund for Agricultural Development (IFAD) as contained in decision B.14/11, paragraph (b), subject to, and in accordance with the assessment by the Accreditation Panel contained in annex XII.

The Board, having considered document GCF/B.29/07 titled “Consideration of accreditation proposals”:

1. Takes note with appreciation of the assessments conducted by the Secretariat and the Accreditation Panel contained within the relevant annexes for the following applicants for re-accreditation:
   1. Applicant R021 (RAPL021) is the Agency for Agricultural Development of Morocco (ADA), based in Morocco, as contained in the annex I of addendum II;
   2. Applicant R003 (RAPL003) is the Secretariat of the Pacific Regional Environment Programme (SPREP), based in Samoa, as contained in annex II of addendum II, and
      
      pursuant to paragraph 45 of the Governing Instrument for the GCF, subject to, and in accordance with, the assessments by the Accreditation Panel contained in the relevant annexes for each of the applicants, and subject to the completion of Stage III of the accreditation by having an effective amendment to the accreditation master agreement, in accordance with decision B.24/13:
2. Approves the re-accreditation of applicant RAPL021, the Agency for Agricultural Development of Morocco (ADA), based in Morocco, as contained in annex I of addendum II; and
3. Further approves re-accreditation of applicant RAPL003, the Secretariat of the Pacific Regional Environment Programme (SPREP), based in Samoa, as contained in annex II of addendum II.

The Board, having considered document GCF/B.29/11 titled “Dates and venues of upcoming meetings of the Board”:

1. Confirms that the thirtieth meeting of the Board will take place from Monday, 4 October to Thursday, 7 October 2021 and that this be held as a net-meeting;
2. Underscores the importance of the full participation and involvement of the entire Board from all constituencies in the Board meetings and pre-Board meeting consultation process as an essential condition for holding an effective and full participatory meeting;
3. Requests the Secretariat, where applicable, to take appropriate steps to ensure the full and effective participation of all Board members, alternate members, advisers and active observers in the net-meeting, including testing the technology and providing support to developing countries in particular; and
4. Also requests the Co-Chairs to continue to monitor the impact of the COVID-19 pandemic on the operations of GCF, and to report to the Board appropriately.

The Board, having reviewed document GCF/BM-2021/14/Rev.01 titled “Amendment to the Evaluation Policy for the GCF: Updated terms of reference of the Independent Evaluation Unit”:

1. Recalls decision B.BM-2021/07 requesting the Independent Evaluation Unit to present updated terms of reference of the Independent Evaluation Unit, as an amendment to the Evaluation Policy for the GCF, for consideration by the Board at its twenty-ninth session;
2. Approves the updated terms of reference of the Independent Evaluation Unit as contained in annex I; and
3. Agrees that the updated terms of reference will constitute an annex to the Evaluation Policy for the GCF, which is amended through this decision.

The Board, having considered document GCF/BM-2021/13 titled “Audited financial statements of the Green Climate Fund for the year ended 31 December 2020”:

Approves the audited financial statements of the Green Climate Fund for the year ended 31 December 2020 as contained in annex I.

The Board, having considered document GCF/BM-2021/08/Rev.01 titled “Selection process to recruit the Head of the Independent Evaluation Unit”:

1. Establishes the Selection Committee as an ad hoc committee of the Board in accordance with paragraphs 2(g) and 30 of the Rules of Procedure of the Board;
2. Appoints as members of the Selection Committee:
   1. Hans Olav Ibrekk;
   2. Jeremiah Garwo Sokan;
   3. Lars Roth;
   4. Marta Mulas;
   5. Nauman Bhatti; and
   6. Ornela Cuci;
3. Adopts the terms of reference of the Selection Committee as set out in annex I;
4. Requests the Selection Committee to undertake a review of the terms of reference of the Head of the Independent Evaluation Unit1 and present recommendations, if and where appropriate, for the Board’s consideration and approval no later than at its thirtieth meeting;
5. Decides that the updated version of the terms of reference of the Head of the Independent Evaluation Unit shall be the basis for the Head of the Independent Evaluation Unit once adopted;
6. Adopts the terms of reference of the selection firm as set out in annex II and instructs the Secretariat to start the procurement process as a matter of urgency;
7. Authorizes the Selection Committee to engage the services of the independent executive search firm, with due observance of applicable procurement rules;
8. Further requests the Selection Committee to present its report containing the recommendations regarding the outcome of the recruitment process in order for the Board to select the Head of the Independent Evaluation Unit at its thirty-first meeting;
9. Approves a budget set out in annex I of document GCF/B.28/20/Add.01 for the selection process of the Head of the Independent Evaluation Unit, including the cost of the selection firm as referred to in paragraph (f) of this decision, and requests the Budget Committee to review the budgetary allocation and to oversee its execution;
10. Takes note of decision B.BM-2021/07 regarding the process to review and update the terms of reference of the Independent Evaluation Unit as an amendment to the Evaluation Policy of the GCF, and further stressing the link between the updated evaluation policy of the GCF and the duties entrusted to the Head of the Independent Evaluation Unit; and
11. Decides that the conclusion of the process to select and recruit a new Head of the Independent Evaluation Unit shall follow the approval of the Board of the updated terms of reference of the Independent Evaluation Unit and the update of the Evaluation Policy of the GCF.

The Board, having considered document GCF/BM-2021/11 titled “Accreditation of observer organizations” and through a decision taken between meetings on a no-objection basis:

Approves the accreditation of the following organizations as observer organizations to the GCF:

Civil society organizations:
A Rocha Ghana (ARG)
Enaleia Civil Non-Profit Organization
Kasa Initiative Ghana (KASA)
The Gold Standard Foundation (GSF)
Zambia Institute of Environmental Management (ZIEM)

Private sector organizations:
Vanuatu Business Resilience Committee (VBRC)

The Board, having considered document GCF/BM-2021/12 titled “Launching the Second Performance Review of the Green Climate Fund”:

1. Recalls paragraph 59 of the Governing Instrument for the GCF, which states that “there will be periodic independent evaluations of the performance of the Fund in order to provide an objective assessment of the results of the Fund, including its funded activities and its effectiveness and efficiency”;
2. Also recalls decision B.24/04 of the Board, endorsing the Board’s four-year workplan and policy cycle, noting the need to utilize the Fund’s periodic performance review as the starting point for a holistic overall policy review process in the third year of the replenishment (2023);
3. Further recalls decision B.27/06, paragraph (p), and the role of the reports from the Independent Evaluation Unit for the update of the Strategic Plan in the next replenishment;
4. Decides to initiate the second performance review of the performance of GCF for the GCF-1 programming period, in a manner appropriate to the current stage of GCF operations, while recognizing that GCF will be a continuously learning institution guided by processes of monitoring and evaluation;
5. Agrees that the scope of the second performance review will be to assess:
   1. Progress made by GCF in delivering on its mandate as set out in the Governing Instrument as well as in terms of its strategic and operational priorities and actions as outlined in the Updated Strategic Plan for 2020–2023, in particular the extent to which GCF has: responded to the needs of developing countries and the level of country ownership; the ability of GCF to catalyse public and private climate finance, including the use of financial instruments; and supported the building of institutional capacity in developing countries and accredited entities;
   2. Performance of GCF in promoting the paradigm shift towards low-emission and climate-resilient development pathways, including the effectiveness of the funded activities and its effectiveness and efficiency;
6. Takes note of the schedule of the second performance review as contained in document GCF/BM-2021/12; and
7. Approves a budget of USD 1,315,000 for the second performance review as contained in document GCF/BM-2021/12.

The Board, having considered document GCF/BM-2021/10 titled “Appointment of member of the independent Technical Advisory Panel”:

Requests the Investment Committee to nominate an additional expert as member of the independent Technical Advisory Panel, with due consideration given to the geographic and specialty coverage in accordance with the updated terms of reference of the independent Technical Advisory Panel.

The Board, having considered document GCF/BM-2021/07 titled “Administrative Remedies and Exclusion Policy”:

1. Approves the Administrative Remedies and Exclusion Policy set out in annex I to this document;
2. Requests the Head of the Independent Integrity Unit, in consultation with the Secretariat and under the supervision of the Ethics and Audit Committee, to develop:
   1. The Administrative Remedies and Exclusion Procedures;
   2. The Administrative Remedies and Exclusion Guidelines for the implementation of this policy;
   3. The Integrity Compliance Guidelines; and
   4. The Settlement Guidelines;
3. Also requests the Independent Integrity Unit and the Secretariat to elaborate on the staffing and budgetary requirements associated with implementing the Administrative Remedies and Exclusion Policy in drafting the Administrative Remedies and Exclusion Procedures; the Administrative Remedies and Exclusion Guidelines; the Integrity Compliance Guidelines; and the Settlement Guidelines; and also to seek the endorsement of the Budget Committee and approval of the Board for any staff positions or budget required, before approval by the Board of such procedures and guidelines;
4. Authorizes the Ethics and Audit Committee of the Board to address issues that may arise in the implementation of this Policy and to refer matters it deems appropriate for the consideration of the Board;
5. Requests the Independent Integrity Unit, in collaboration with the Secretariat, to provide a brief implementation report and to recommend possible amendments to this policy to the Board when the policy review is due as per the approved Board workplan and four-year policy cycle; and
6. Affirms the role of the Board in overseeing the implementation of this Policy.

The Board, having considered document GCF/BM-2021/06 titled “Revised Policy on the Prevention and Protection from Sexual Exploitation, Sexual Abuse, and Sexual Harassment”:

1. Reiterates the commitment of the GCF to the highest standards of integrity, including its zero tolerance for sexual exploitation, sexual abuse and sexual harassment;
2. Takes note of the technical assessment of the Policy on the Prevention and Protection from Sexual Exploitation, Sexual Abuse and Sexual Harassment and the comparative analysis of the sexual exploitation, sexual abuse and sexual harassment safeguarding practices of international financial institutions contained therein;
3. Adopts the Revised Policy on the Prevention and Protection from Sexual Exploitation, Sexual Abuse, and Sexual Harassment as set out in annex I to this document to replace the Policy on the Prevention and Protection from Sexual Exploitation, Sexual Abuse and Sexual Harassment adopted by the Board pursuant to decision B.23/16 and decision B.25/05;
4. Takes note of the revised Environmental and Social Policy as set out in annex III to document GCF/BM-2021/06, proposed to replace the Environmental and Social Policy adopted by the Board pursuant to decision B.19/10;
5. Takes note that the Secretariat is undertaking a public consultation process on the proposed revisions to the Environmental and Social Policy as set out in annex III to document GCF/BM-2021/06, including a minimum thirty day posting on the GCF’s website; and
6. Requests the Secretariat to present for the Board’s consideration, no later than its twenty-ninth meeting, the proposed revisions to the Environmental and Social Policy in respect of sexual exploitation, sexual abuse, and sexual harassment.

The Board, having considered document GCF/BM-2021/09 titled “Evaluation Policy for the GCF”:

1. Adopts the Evaluation Policy for the GCF as presented in annex I to this document;
2. Requests the Independent Evaluation Unit (IEU) to develop standards in collaboration with the Secretariat, and requests the Secretariat, in consultation with the IEU, to develop monitoring protocols, toolkits and guidelines that take into account the Evaluation Policy and the integrated results management framework; and
3. Requests the IEU to present Updated Terms of Reference of the IEU, as an amendment to the Evaluation Policy, for consideration by the Board at its twenty-ninth session.

The Board, having considered document GCF/BM-2021/05 titled “Accreditation of observer organizations” and through a decision taken between meetings on a no-objection basis:

Approves the accreditation of the following organizations as observer organizations to the GCF:
 

Civil society organizations:
Public Services International (PSI)
Women Engage for a Common Future, International (WECF International)

Private sector organizations:
Pacific Legal Network (PLN)
Pula Advisors GmbH (PULA)

The Board:

Elects Mr. José de Luna as the Co-Chair of the Board being a member from a developing country Party for a term starting on 16 March 2021 and for the remainder of the term of his predecessor ending 31 December 2021, in accordance with paragraph 13 of the Governing Instrument for the Green Climate Fund and paragraphs 7 and 9 of the Rules of Procedure of the Board.

The Board, having considered document GCF/B.28/04 titled “Addressing gaps in the current portfolio for measurement”:

1. Takes note of the information presented in the document;
2. Reiterates the commitment of GCF as a learning organization to iteratively improve the integration of sufficient monitoring and evaluation budget and activities for the gathering of evidence in funding proposals and funded activities to ensure the credibility of the portfolio and project/programme results reported;
3. Recognizes that participation and implementation of remediation measures by accredited entities is voluntary;
4. Requests the Secretariat to target remediation efforts covering all gaps in project/programme monitoring and evaluation or the relevant performance management frameworks’ indicator risk assessment, where the ratings are assessed by the Secretariat as moderate, elevated or high;
5. Approves the Secretariat undertaking the following actions to advance remediation efforts:
   1. Phase 1: The Secretariat retaining a vendor and consulting with accredited entities to assess the willingness of the accredited entities to undertake proposed remediation activities on a project-specific basis, where the ratings are assessed by the Secretariat as moderate, elevated or high; and
   2. Phase 2: Based on feedback received from accredited entities, the Secretariat proposing a detailed action plan and funding envelope for remedial actions to be presented to the Board for consideration at the earliest possible opportunity, which may be through a decision between meetings, not later than the thirtieth meeting of the Board, to cover the costs of the remediation activities to be undertaken at the Secretariat and accredited entity level; and
6. Requests the Secretariat to consult and seek confirmation from the Budget Committee and approval by the Board on the additional administrative budget for Phase 1 of the remedial efforts as described in paragraph (e)(i) above.

The Board, having considered document GCF/B.28/15 titled “Update on the operations of the independent Technical Advisory Panel”:

1. Adopts the updated independent Technical Advisory Panel review procedure as presented in annex II;
2. Requests the Secretariat, in close consultation with the independent Technical Advisory Panel, to develop a transparent and consistent approach to their assessment of funding proposals;
3. Also requests the Secretariat, in consultation with the Budget Committee, to present to the Board, no later than its thirtieth meeting, a proposal on how to align the remuneration structure of the members of the independent Technical Advisory Panel with other panels of GCF and of comparable multilateral institutions, taking into consideration the impact of the provisions on conflict of interest contained in the Updated Terms of Reference of the Independent Technical Advisory Panel (decision B.BM-2018/09), and the workload of the independent Technical Advisory Panel; and
4. Further requests the Investment Committee, with the support of the Secretariat, to commission the next review of the structure of the independent Technical Advisory Panel and its effectiveness for the Board’s consideration in line with the updated Strategic Plan’s guidance as per decision B.27/06, paragraph (n), which will include an assessment of the following:
   1. Projected demands on the independent Technical Advisory Panel and its associated capacity to assess funding proposals in terms of time commitment and range of technical expertise;
   2. Any specific gaps in the technical expertise of the independent Technical Advisory Panel that should be filled for the adequate fulfilment of their functions;
   3. Effectiveness of the updated process, quality of the deliverables and options to improve these; and
   4. With regard to the simplified approval process, a consideration of the capacity of the independent Technical Advisory Panel to efficiently review simplified approval process proposals on a rolling basis and in a timely manner, and corresponding recommendations.

The Board, having considered document GCF/B.28/02/Rev.02 titled “Consideration of funding proposals”:

1. Takes note of the following funding proposals:
   1. Funding proposal 154 titled “Mongolia: Aimags and Soums Green Regional Development Investment Program (ASDIP)”, by the Asian Development Bank, as contained in document GCF/B.28/02/Add.01/Rev.01 and Add.18/Rev.02;
   2. Funding proposal 155 titled “Building resilience to cope with climate change in Jordan through improving water use efficiency in the agriculture sector (BRCCJ)”, by the Food and Agriculture Organization of the United Nations, as contained in document GCF/B.28/02/Add.02 and Add.18/Rev.02;
   3. Funding proposal 156 titled “ASEAN Catalytic Green Finance Facility (ACGF): Green Recovery Program”, by the Asian Development Bank, as contained in document GCF/B.28/02/Add.03/Rev.01 and Add.18/Rev.02;
   4. Funding proposal 157 titled “Coastal Resilience to Climate Change in Cuba through Ecosystem Based Adaptation – ‘MI COSTA’”, by the United Nations Development Programme, as contained in document GCF/B.28/02/Add.04 and Add.18/Rev.02;
   5. Funding proposal 158 titled “Ecosystem-Based Adaptation and Mitigation in Botswana’s Communal Rangelands”, by the Conservation International Foundation, as contained in document GCF/B.28/02/Add.05 and Add.18/Rev.02;
   6. Funding proposal 159 titled “PREFOREST CONGO - Project to reduce greenhouse gas emissions from forests in five departments in the Republic of Congo”, by the Food and Agriculture Organization of the United Nations, as contained in document GCF/B.28/02/Add.06 and Add.18/Rev.02;
   7. Funding proposal 160 titled “Monrovia Metropolitan Climate Resilience Project”, by the United Nations Development Programme, as contained in document GCF/B.28/02/Add.07/Rev.01 and Add.18/Rev.02;
   8. Funding proposal 161 titled “Building Regional Resilience through Strengthened Meteorological, Hydrological and Climate Services in the Indian Ocean Commission (IOC) Member Countries”, by the Agence Française de Développement, as contained in document GCF/B.28/02/Add.08 and Add.18/Rev.02;
   9. Funding proposal 162 titled “The Africa Integrated Climate Risk Management Programme: Building the resilience of smallholder farmers to climate change impacts in 7 Sahelian Countries of the Great Green Wall (GGW)”, by the International Fund for Agricultural Development, as contained in document GCF/B.28/02/Add.09 and Add.18/Rev.02;
   10. Funding proposal 163 titled “Sustainable Renewables Risk Mitigation Initiative (SRMI) Facility”, by the World Bank, as contained in document GCF/B.28/02/Add.10 and Add.18/Rev.02;
   11. Funding proposal 164 titled “Green Growth Equity Fund”, by the Nederlandse Financierings-Maatschappij voor Ontwikkelingslanden N.V., as contained in document GCF/B.28/02/Add.16;
   12. Simplified approval process (SAP) funding proposal 020 titled “Climate resilient food security for farming households across the Federated States of Micronesia (FSM)”, by the Micronesia Conservation Trust, as contained in document GCF/B.28/02/Add.12 and Add.18/Rev.02;
   13. Simplified approval process (SAP) funding proposal 021 titled “Community-based Landscape Management for Enhanced Climate Resilience and Reduction of Deforestation in Critical Watersheds”, by the Japan International Cooperation Agency, as contained in document GCF/B.28/02/Add.13 and Add.18/Rev.02;
   14. Simplified approval process (SAP) funding proposal 022 titled “Enhancing Multi-Hazard Early Warning System to increase resilience of Uzbekistan communities to climate change induced hazards”, by the United Nations Development Programme, as contained in document GCF/B.28/02/Add.14 and Add.18/Rev.02; and
   15. Simplified approval process (SAP) funding proposal 023 titled “River Restoration for Climate Change Adaptation (RIOS)”, by the Fondo Mexicano para la Conservación de la Naturaleza A.C., as contained in document GCF/B.28/02/Add.15 and Add.18/Rev.02;
2. Approves funding proposal 154 for the amount of USD 175,000,000, submitted by the Asian Development Bank, subject to the conditions set out in annex I and in the respective term sheet set out in document GCF/B.28/02/Add.18/Rev.02;
3. Also approves funding proposal 155 for the amount of USD 25,000,000, submitted by the Food and Agriculture Organization of the United Nations, subject to the conditions set out in annex I and in the respective term sheet set out in document GCF/B.28/02/Add.18/Rev.02;
4. Further approves funding proposal 156 for the amount of USD 300,000,000, submitted by the Asian Development Bank, subject to the conditions set out in annex I and in the respective term sheet set out in document GCF/B.28/02/Add.18/Rev.02;
5. Approves, pursuant to a vote in which 23 of the Board members present voted in favour and 1 of the Board members present voted against, and in respect of which none of the Board members present abstained from the vote, funding proposal 157 for the amount of USD 23,927,294, submitted by the United Nations Development Programme, subject to the conditions set out in annex I and in the respective term sheet set out in document GCF/B.28/02/Add.18/Rev.02;
6. Also approves funding proposal 158 for the amount of USD 36,760,394, submitted by the Conservation International Foundation, subject to the conditions set out in annex I and in the respective term sheet set out in document GCF/B.28/02/Add.18/Rev.02;
7. Further approves funding proposal 159 for the amount of USD 28,988,852, submitted by the Food and Agriculture Organization of the United Nations, subject to the conditions set out in annex I and in the respective term sheet set out in document GCF/B.28/02/Add.18/Rev.02;
8. Approves funding proposal 160 for the amount of USD 17,255,755, submitted by the United Nations Development Programme, subject to the conditions set out in annex I and in the respective term sheet set out in document GCF/B.28/02/Add.18/Rev.02;
9. Also approves, pursuant to a vote in which 23 of the Board members present voted in favour and 1 of the Board members present voted against, and in respect of which none of the Board members present abstained from the vote, funding proposal 161 for the amount of USD 52,767,986, submitted by the Agence Française de Développement, subject to the conditions set out in annex I and in the respective term sheet set out in document GCF/B.28/02/Add.18/Rev.02;
10. Further approves funding proposal 162 for the amount of USD 82,849,900, submitted by the International Fund for Agricultural Development, subject to the conditions set out in annex I and in the respective term sheet set out in document GCF/B.28/02/Add.18/Rev.02;
11. Approves funding proposal 163 for the amount of USD 280,000,000, submitted by the World Bank, subject to the conditions set out in annex I and in the respective term sheet set out in document GCF/B.28/02/Add.18/Rev.02;
12. Also approves funding proposal 164 for the amount of USD 137,000,000, submitted by the Nederlandse Financierings-Maatschappij voor Ontwikkelingslanden N.V., subject to the conditions set out in annex I and in the respective term sheet set out in document GCF/B.28/02/Add.16;
13. Further approves simplified approval process (SAP) funding proposal 020 for the amount of USD 8,583,350, submitted by the Micronesia Conservation Trust, subject to the conditions set out in annex I and in the respective term sheet set out in document GCF/B.28/02/Add.18/Rev.02;
14. Approves simplified approval process (SAP) funding proposal 021 for the amount of USD 9,976,222, submitted by the Japan International Cooperation Agency, subject to the conditions set out in annex I and in the respective term sheet set out in document GCF/B.28/02/Add.18/Rev.02;
15. Also approves simplified approval process (SAP) funding proposal 022 for the amount of USD 9,999,455, submitted by the United Nations Development Programme, subject to the conditions set out in annex I and in the respective term sheet set out in document GCF/B.28/02/Add.18/Rev.02;
16. Further approves simplified approval process (SAP) funding proposal 023 for the amount of USD 9,000,000, submitted by the Fondo Mexicano para la Conservación de la Naturaleza A.C., subject to the conditions set out in annex I and in the respective term sheet set out in document GCF/B.28/02/Add.18/Rev.02;
17. Reaffirms that pursuant to annex IV to decision B.17/09, the Executive Director or his designee is authorized to negotiate and enter into legal agreements on behalf of the GCF with accredited entities and other parties involved in respect of funding proposals approved by the Board, taking into account any condition approved by the Board in this decision and in the decision accrediting the relevant accredited entity; and
18. Authorizes the Secretariat to disburse fees for each funded project/programme approved by the Board as per the disbursement schedule to be agreed in the funded activity agreement in accordance with the policy on fees and the general principles and indicative list of eligible costs covered under GCF fees and project management costs adopted by the Board pursuant to decision B.19/09.

The Board, having considered document GCF/B.28/06 titled “Dates and venues of upcoming meetings of the Board”:

1. Confirms that the twenty-ninth meeting of the Board will take place from Monday, 28 June to Thursday, 1 July 2021 and that this be held as a net-meeting;
2. Decides that the thirtieth meeting of the Board will take place from Monday, 4 October to Thursday, 7 October 2021;
3. Underscores the importance of the full participation and involvement of the entire Board from all constituencies in the Board meetings and pre-Board meeting consultation process as an essential condition for holding an effective and full participatory meeting;
4. Requests the Secretariat, where applicable, to take appropriate steps to ensure the full and effective participation of all Board members, alternate members, advisers and active observers in the net-meeting, including testing the technology and providing support to developing countries in particular; and
5. Also requests the Co-Chairs to continue to monitor the impact of COVID-19 on the operations of GCF, and to report to the Board appropriately.

The Board, having considered document GCF/BM-2021/03 titled “Reappointment of members of the independent Technical Advisory Panel”:

1. Decides to re-appoint, as an exception to paragraph 12 of annex I to decision B.BM.2018/09, the following members of the independent Technical Advisory Panel for a ten-month term starting on the date of the expiration of their current term:
   1. Mr. Daniel Nolasco;
   2. Ms. Marina Shvangiradze; and
   3. r. Felix Dayo;
2. Decides that the performance review of the members of the independent Technical Advisory Panel shall be undertaken by an independent consultant or firm, with the aim of presenting the outcome of the performance review to the Board for consideration at its thirtieth meeting, pursuant to the terms of reference including in annex II; and
3. Requests the Secretariat to procure the independent consultant or firm referred to in paragraph (b) above.

The Board, having considered document GCF/BM-2021/04 titled “Ninth Report of the Green Climate Fund to the Conference of the Parties to the United Nations Framework Convention on Climate Change”:

Adopts the “Ninth Report of the Green Climate Fund to the Conference of the Parties to the United Nations Framework Convention on Climate Change”, presented in annex II to this document and requests the Secretariat to submit to the United Nations Framework Convention on Climate Change accordingly.

The Board, having considered document GCF/BM-2021/02 titled “Initial analysis of options to minimize the effects of currency fluctuations on the commitment authority of the GCF”:

1. Takes note of the information presented in document GCF/BM-2021/02 titled “Initial analysis of options to minimize the effects of currency fluctuations on the commitment authority of the GCF”;
2. Requests the Secretariat, under the guidance of the Budget Committee and the Risk Management Committee, to develop a policy to minimize the effect of currency fluctuations on the commitment authority of the GCF and to present it for the consideration by the Board at its thirtieth meeting; and
3. Requests that the above policy recommendations in paragraph (b) should carefully consider that the resources used for hedging should be justified by the benefits of hedging.

The Board, having considered document GCF/BM-2021/01 titled “Dates and venues of upcoming meetings of the Board”:

1. Decides and confirms that the twenty-eighth meeting of the Board will take place from Tuesday, 16 March to Friday, 19 March 2021 and that this be held as a net-meeting;
2. Also decides that the twenty-ninth meeting of the Board will take place from Tuesday, 29 June to Friday, 2 July 2021;
3. Further decides that the thirtieth meeting of the Board will take place from Tuesday, 5 October to Friday, 8 October 2021;
4. Underscores the importance of the full participation and involvement of the entire Board from all constituencies in the Board meetings and pre-Board meeting consultation process as an essential condition for holding an effective and full participatory meeting;
5. Requests the Secretariat, where applicable, to take appropriate steps to ensure the full and effective participation of all Board members, alternate members, advisers and active observers in the net-meeting(s), including testing the technology and providing support to developing countries in particular; and
6. Also requests the Co-Chairs to continue to monitor the impact of COVID-19 on the operations of GCF, and to report to the Board appropriately.

The Board, having considered document GCF/BM-2020/16 titled “Accreditation of observer organizations” and through a decision taken between meetings on a no-objection basis:

Approves the accreditation of the following organizations as observer organizations to the GCF:

Civil society organizations:
Digo Bikas Institute (DBI)
Promotion Jeunesse Unie pour le Développement (PJUD-BENIN ONG)

Private sector organizations:
Deloitte Anjin LLC
Global Carbon Capture and Storage Institute Ltd (Global CCS Institute)
International entities:
United Nations Capital Development Fund (UNCDF)