Boardroom

The Board, having considered the document GCF/BM-2020/11 titled “Appointment of members of the Performance Oversight Committee of the Executive Director and Heads of Independent Units”:

Appoints as members of the Performance Oversight Committee of the Executive Director and Heads of Independent Units, for a term starting on 1 July 2020:

1. Mr. Terje Kronen; and
2. Mr. Ayman Shasly.

The Board, having considered document GCF/BM-2020/09 titled “Audited financial statements of the Green Climate Fund for the year ended 31 December 2019”:

Approves the audited financial statements of the Green Climate Fund for the year ended 31 December 2019 as contained in annex I.

The Board, having considered document GCF/BM-2020/10 titled “Dates and venues for GCF Board meetings in 2020”:

1. Takes note of decision B.23/18 that agreed the dates for the twenty-sixth and twenty-seventh meetings of the Board;
2. Notes the Board’s decisions B.25/01 and B.25/02 that recognize the exceptional circumstances created by the global COVID-19 pandemic and the impact this is having on the operations of GCF (including the Board, Secretariat, independent units, accredited entities, and national designated authorities) as well as on other international entities;
3. Also notes that these exceptional circumstances have resulted in strict health guidance that includes, but is not limited to, directives to remain at home, international and domestic travel restrictions, and closed borders;
4. Reaffirms the importance of GCF remaining operational to implement its mandate, given the current exceptional circumstances;
5. Notes decision B.24/04, in particular paragraph (e), and confirms that the scope of work remaining for 2020 should ensure the approval of essential administrative and programmatic decisions, consideration of policy items, and monitoring of implementation and standards compliance;
6. Takes note of the Co-Chairs’ Consultation Plan for 2020, and welcomes the ongoing consultation process on policy items to seek consensus as soon as possible, taking into consideration the current exceptional circumstances;
7. Agrees and confirms that the twenty-sixth meeting of the Board will take place from 18–21 August 2020, for no more than four hours per day;
8. Also agrees, and confirms, without prejudice to paragraph 17 of the Rules of Procedure of the Board, that the twenty-seventh meeting of the Board will take place during the week commencing 9 November 2020;
9. Further confirms that unless the circumstances allow for a physical Board meeting, the Board meetings in 2020 will be held as net-meetings;
10. 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;
11. Requests the Secretariat to take appropriate steps to ensure the full and effective participation of all Board members, alternate members and advisers in the virtual meeting, including testing the technology and providing support to developing countries in particular;
12. Ensures that technical settings are in place for the full participation of active observers and that the standard webcasting will be available for all observers;
13. Instructs the Secretariat to urgently issue the logistics note for the twenty-sixth meeting of the Board, and to make other arrangements for the meeting; and
14. 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-2020/08 titled “Extension of the term of the members of Accreditation Panel”:

Decides, pursuant to decision B.BM-2018/02, paragraphs (c) and (d), to extend – on an extraordinary basis due to the coronavirus disease 19 pandemic – the current term of the following Accreditation Panel members as referenced in said decision from 17 October 2020 to 30 April 2021:

1. Mr. Mark Alloway;
2. Mr. Max Contag;
3. Mr. Antonio G. M. La Viña;
4. Ms. Anastasia Northland;
5. Mr. Godfrey Tumusiime; and
6. Mr. Yogesh Vyas.

The Board, having considered the document GCF/BM-2020/07 titled “Appointment of members of the Accreditation Committee”

Appoints as members of the Accreditation Committee:

1. Ms. Karina Ramirez Arras; and
2. Ms. Johanna Pietikäinen, replacing Mr. Hans Olav Ibrekk.
    

The Board, having considered documents GCF/B.25/13/Rev.01 and GCF/BM-2020/06 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 097 (APL097) is the Bhutan Trust Fund for Environmental Conservation (BTFEC) based in Bhutan, as contained in annex III to document GCF/B.25/13/Rev.01; and
   2. Applicant 098 (APL098) is the Trade and Development Bank of Mongolia (TDB Mongolia)) based Mongolia, as contained in annex IV to document GCF/B.25/13/Rev.01;
2. Approves the accreditation of applicants APL097 and APL098, 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 to document GCF/B.25/13/Rev.01 for each of the applicants and the completion of Stage III of the accreditation by having an effective accreditation master agreement, in accordance with decision B.23/11;
3. Takes note with appreciation of the assessment conducted by the Secretariat and the Accreditation Panel contained within the relevant annex of document GCF/B.25/13/Rev.01 for the following applicant seeking to upgrade its accreditation type:
   1. Palli Karma-Sahayak Foundation (PKSF), as contained in annex V to document GCF/B.25/13/Rev.01; and
4. Agrees to upgrade the accreditation type of the Palli Karma-Sahayak Foundation as contained in decision B.10/06, paragraph (c), subject to, and in accordance with, the assessment by the Accreditation Panel contained in annex V to document GCF/B.25/13/Rev.01.

The Board, having considered document GCF/BM-2020/05 titled “Implementation of the performance evaluation and performance-related pay for Board-appointed officials”:

1. Confirms the need to engage an independent external human resources firm to provide specialist support to the Performance Oversight Committee in the conduct of the performance evaluation of the Heads of Independent Units and the Executive Director and the implementation of the pay increase system;
2. Endorses the terms of reference of the independent external human resources firms as set out in annex I to this document;
3. Decides that the Performance Oversight Committee, with support by the Secretariat, will engage the independent external human resources firm consistent with GCF procurement guidelines;
4. Approves the performance evaluation and performance-related pay systems as set out in annexes II and III;
5. Endorses the 360-degree methodology described in annex III as the assessment tool to be adopted for Board-appointed officials for development purposes; and
6. Approves the provision of an annual budget of USD 60,000 to implement the performance evaluation and performance-related pay systems.

The Board, having reviewed the limited distribution document GCF/BM-2020/03 titled “Status of approved funding proposals: adding host country in respect of FP078 (Acumen Resilient Agriculture Fund (ARAF))”:

1. Takes note of the no-objection letter submitted by the Kenyan national designated authority;
2. Approves the inclusion of Kenya as a host country for FP078; and
3. Authorizes the Secretariat to take such steps as might be necessary pursuant to the funded activity agreements for FP078 to give effect to this decision.

The Board, having considered document GCF/BM-2020/05 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:
Asociación Indígena Centro para la Autonomia y Desarollo de los Pueblos Indígenas
(CADPI)
Bank Information Center (BIC)
Bureau d’Informations Formations, Echanges et Recherches pour le Développement
(BIFERD)
Clean Energy Nepal (CEN)
Community Science Centre, Vadodara (CSC, Vadodara)
Global Emerging Pathogens Treatment Consortium (GET Consortium)
Global Network of Civil Society Organisations for Disaster Reduction (GNDR)
Internationella Insamlingsstiftelsen för Mark och Skogrättigheter (The Tenure Facility)
Pathfinder International (PI)
Pivot Point, A Nonprofit Organization (Pivot Point)
Reusa Misión Planeta A.C. (RMP)
WaterAid (WA)
Udyama

Private sector organizations:
Photon Energy NV (PE)

The Board, having considered the limited distribution document GCF/BM-2020/02 titled “Performance review of the members of the Accreditation Panel”:

1. Decides that, pursuant to decision B.BM-2017/03 and in line with the guiding principles and methodology for the performance review of members of the Accreditation Panel of the GCF set out in annex I to the same decision, the performance review of the members of the Accreditation Panel shall be undertaken by an independent consultant or firm, with the aim of presenting the outcome of such performance review to the Board for its consideration at its twenty-sixth meeting;
2. Requests the Secretariat to promptly procure the independent consultant or firm referred to in paragraph (a); and
3. Also requests the Secretariat to promptly launch the call for experts to the Accreditation Panel and the Accreditation Committee to nominate members of the Accreditation Panel for the consideration by the Board at its twenty-sixth meeting.

The Board:

1. Takes note of the consultations and comments submitted on the draft Evaluation Policy;
2. Confirms that the Evaluation Policy is a GCF-wide policy that guides the Board, the Secretariat, the Independent Evaluation Unit, other independent units, accredited entities and national designated authorities/focal points;
3. Also confirms that the Independent Evaluation Unit and the Secretariat jointly clarify and delineate the roles, responsibilities and accountabilities in the Evaluation Policy;
4. Agrees to amend the terms of reference for the Head of the Independent Evaluation Unit (see annex V to decision B.10/05) as contained in annex XXIX;
5. Requests the Independent Evaluation Unit and the Secretariat to present the draft Evaluation Policy for consideration no later than the twenty-fifth meeting of the Board;
6. Also requests the Independent Evaluation Unit to present the detailed procedures and guidelines for the effective operation of the Independent Evaluation Unit for consideration by the Board at its twenty-fifth meeting; and
7. Further requests the Secretariat, in consultation with the Independent Evaluation Unit, to develop monitoring protocols, toolkits and guidelines that take into account the Evaluation Policy and the integrated results management framework, which will be submitted for the Board’s consideration at its twenty-fifth meeting.

The Board, having considered the document GCF/BM-2019/13 titled “Election of Co-Chairs of the Board for 2020”:

Elects Mr. Nauman Bhatti and Ms. Sue Szabo as the Co-Chairs of the Board for a term of one year starting on 1 January 2020, in accordance with paragraph 7 of the Rules of Procedure of the Board.

The Board, having considered document GCF/B.24/10 titled "Secretariat management response to the Forward-Looking Performance Review of the GCF” and document GCF/B.23/20 titled “Forward-Looking Performance Review of the GCF”:

1. Recalls decision B.23/06, paragraphs (b), (c) and (d);
2. Takes note of the Secretariat management response to the Forward-Looking Performance Review of the GCF in document GCF/B.24/10; and
3. Decides to further consider, inter alia, the performance review and the management response within its deliberations on the Strategic Plan for the GCF 2020–2023 and other future Board agenda items, as appropriate.

The Board, having considered the limited distribution document GCF/BM-2019/12 titled “Consideration of request for changes in pricing and tenor in respect of FP080 (Zambia Renewable Energy Financing Framework)”:

1. Takes note of the request submitted through Ref: PEVP/IOM/WS/2019/02 dated 4 September 2019 from the African Development Bank for the revision of financing terms for the “Zambia Renewable Energy Financing Framework” (FP080) and attachments thereto, as contained in document GCF/BM-2019/12; and
2. Approves the major changes to FP080 described in the request.

The Board, having considered document GCF/BM-2019/11 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:

University of Melbourne (UoM) Wildlife Conservation Society (WCS)

International entities:

Mediterranean Agronomic Institute of Bari (CIHEAM Bari)

The Board:

1. Noted the need for further work and consultations and requested the Interim Secretariat to prepare a working document on these issues for discussion at its next meeting;
2. Invited its members to send comments on the issues raised at this meeting or additional issues to the Interim Secretariat by 30 August 2012, so that they can be addressed in the working document;
3. Agreed, on a provisional basis, that the Co‐Chairs, when chairing the meeting, may designate their alternates to act on their behalf and take their seats and that this arrangement would not set a precedent and will be replaced by more permanent arrangements at the next Board meeting under the additional rules of procedure.

The Board:

1. Agreed, on an ad hoc basis, to provisionally invite four active observers to participate in its meeting and to each make a statement on the issues that are on its agenda;
2. Requested the Interim Secretariat to prepare a policy document on how to operationalize paragraph 16 of the Governing Instrument and invited its members to provide their views on this issue to the Interim Secretariat and observers present at the meeting to contribute as well. Input should reach the Interim Secretariat by 30 August 2012.

The Board decided to adopt the evaluation criteria and selection process as presented in Annex II to this document. The Board decided to establish the Host Country Evaluation Committee with following members:

Mr. Dipak Dasgupta (India), Mr. Omar El‐Arini (Egypt), Ms. Ana Fornells de Frutos (Spain), H.E. Ms. Audrey Joy Grant (Belize), Mr. Gilbert Metcalf (United States of America), Mr. Tomáš Zídek (Czech Republic).

The Board:

1. Requested the Interim Secretariat to continue with the current arrangements as set up by the UNFCCC and the GEF secretariats and under the supervision of its Co‐Chairs;
2. Provided guidance to the Interim Secretariat and requested the Interim Secretariat to report on how it implemented that guidance at the next Board meeting under the agenda item “Summary of activities of the Interim Secretariat”;
3. Requested the Interim Secretariat to prepare a working document for the next Board meeting on how to address the issues relating to the establishment of the independent Secretariat, addressing the issues raised at this Board meeting;
4. Agreed to initiate without undue delay the process of selecting the Executive Director of the independent Secretariat and requested the Interim Secretariat to prepare a working document addressing the criteria for, and the process of, the selection of the Executive Director as well as the terms of reference for this position;
5. Invited the Board members to provide by 31 August 2012 comments to the Interim Secretariat additional to, or elaborating on, those presented at this Board meeting on the issues referred to in paragraphs (a) to (c).

The Board,

1. Requested the Interim Secretariat and the Interim Trustee to revise the document in the light of the comments made and present it to the Board at its next meeting;
2. Invited the Board members to provide by 31 August 2012 comments to the Interim Secretariat additional to, or elaborating on, those presented at this Board meeting;

The Board,

1. Approved the administrative budget to cover the expenditures incurred during the period up to 30 June 2012, as presented in document GCF/B.01‐12/08/Rev.02;
2. Approved the administrative budget proposed for the period 1 July to 31 October 2012, in the amounts set forth in Table 1 of document GCF/B.01‐12/08/Rev.02;
3. Decided that the full costs of travel and daily subsistence allowance of the Board members and alternate members from eligible developing countries to attend Board meetings, or any ancillary meetings decided by the Board, will be provided from the budget of the Fund;
4. Authorized the International Bank for Reconstruction and Development (the World Bank) as the Interim Trustee for the Green Climate Fund to make cash transfers for the Interim Secretariat through the UNFCCC and the GEF secretariats, and to the World Bank as the Interim Trustee, up to the total amounts specified in Table 1, subject to the availability of resources in the GCF Trust Fund and adjustment based upon revised costs and expenditures to be incurred;
5. Took note of the funds provided by Denmark, Germany, Norway, Spain, Switzerland and the United States of America in agreeing to carry‐over the unspent balance from contributions originally made to support the work of the Transitional Committee and of pledges made by Denmark and Germany for contributions to the administrative budget;
6. Requested the Interim Secretariat and the Interim Trustee to present to it at its next meeting the refined administrative budget in a revised format.

The Board agreed to consider at its next meeting the following issues:

1. Organization of work;
2. Summary of activities of the Co‐Chairs;
3. Summary of activities of the Interim Secretariat;
4. Additional rules of procedure (including accreditation of observers and arrangements for active observers);
5. Selection of the host country of the Fund;
6. Arrangements for establishing the independent Secretariat, including the selection of the Executive Director;
7. Arrangements for the Interim Trustee;
8. Long‐term work plan and priorities of the Board;
9. Administrative budget of the Interim Secretariat and the Interim Trustee;
10. Status of resources of the Fund;
11. Arrangements between the COP and the Fund;
12. Report to the COP.

The Board, through a decision taken between meetings on a no-objection basis:

Approved the accreditation of following organizations as observer organizations with the Fund:

International entities:

• African Union
• Agence Française de Développement (AFD)
• Asian Development Bank (ADB)
• European Bank for Reconstruction and Development (EBRD) European Investment Bank (EIB)
• Inter-American Development Bank (IADB)
• International Civil Aviation Organization (ICAO) International Finance Corporation (IFC)
• International Fund for Agricultural Development (IFAD) South Centre
• United Nations Development Programme (UNDP)
• World Health Organization (WHO)
• World Meteorological Organization (WMO)

Civil society organizations:

• ActionAid International
• Asia Indigenous People Pact Foundation (AIPP)
• Asociación Ambiente y Sociedad
• Asociación Interamericana para la Defensa del Ambiente (AIDA)
• Ateneo de Manila University (AdMU)
• Both ENDS Foundation
• Caucasus Environmental NGO Network (CENN)
• Center for International Environmental Law, Inc. (CIEL)
• Center for the Study of Law, Justice and Society (De Justicia)
• Centre d'accompagnement des autochtones pygmées et minoritaires vulnérables (CAMV - International)
• Centre for 21st Century Issues (C21st)
• Centre for Community Economics and Development Consultants Society (CECOEDECON)
• Centre for European Policy Studies (CEPS)
• Climate Action Network e.V. (International) (CAN International)
• Climate Analytics
• Climate Policy Initiative (CPI)
• Derecho, Ambiente y Recursos Naturales (DAR)
• Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ)
• Earth Peoples
• Energy, Environment and Development (ENDA)
• Equidad de Género
• Friends of the Earth International
• Fundación Centro ESTUDIOS ECOLÓGICOS de la Republica Argentina (FUCEERA)
• Germanwatch
• Global Alliance for INCINERATOR Alternatives (GAIA)
• Global Environment Centre (GEC)
• Global Forest Coalition (GFC)
• Global Network for Environment and Economic Development Research
• Green Club
• Greenpeace
• Heinrich Böll Foundation
• Human and Environmental Development Agenda (HEDA Resource Centre)
• IBON International Foundation, Inc.
• ICLEI – Local Governments for Sustainability
• Institute for Climate and Sustainable Cities (iCSC)
• Institute for Policy Studies
• International Rivers
• International Trade Union Confederation (ITUC)
• International Union for Conservation of Nature (IUCN)
• Jeunes Volontaires pour l'Environnement (JVE)
• Jubilee South - Asia Pacific Movement on Debt and Development (JSAPMDD)
• Keystone Foundation
• Kitanglad Integrated NGOs, Inc. (KIN)
• Maleya Foundation
• Network of Sustainable Livelihood Catalysts, Inc.
• Niger Delta Women’s movement for Peace and Development (NDWPD)
• Overseas Development Institute (ODI)
• Oxfam
• Oxford Climate Policy
• Pakistan Fisherfolk Forum (PFF)
• Pan African Climate Justice Alliance (PACJA)
• Sierra Club
• Taiwan Youth Climate Coalition
• Tebtebba Foundation
• Third World Network
• Transparency International
• Women's Environment and Development Organization (WEDO)
• World Future Council Foundation
• World Resources Institute
• Zambia Climate Change Network (ZCCN)

Private sector organizations:

• Air Transport Action Group (ATAG)
• Climate Markets and Investment Association (CMIA)
• ECOFYS Germany GmbH
• Federation of German Industries (BDI)
• Indufor Oy
• International Air Transport Association (IATA)
• Selco Solar Light Pvt. Ltd.
• United States Council for International Business (USCIB) World Business Council for Sustainable Development (WBCSD)

The Board, through a decision taken between meetings on a no-objection basis:

Approved a partnership between the Fund and Caribbean Development Bank (CDB) and the Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) for the purpose of organizing a workshop on readiness and preparatory support, to be held in Barbados in July 2013.

The Board, through a decision taken between meetings on a no-objection basis:

Approved the accreditation of following organizations as observer organizations with the Fund:

International entities:

• African Development Bank (AfDB)
• Corporación Andina de Fomento (CAF)
• Economic Community Of West African States Bank for Investment and Development (EBID)
• International Renewable Energy Agency (IRENA)
• United Nations Environment Programme (UNEP)

Civil society organizations:

• Abibimman Foundation
• Action de Jeunesse pour le Développement (AJED-Congo)
• CARE Denmark
• Centro Alexander von Humboldt
• Centro de Transporte Sustentable de México A. C. (CTS EMBARQ México)
• Christian Aid
• College of the Atlantic (COA)
• Deutsches Institut für Entwicklungspolitik (DIE) - German Development Institute
• E3G Third Generation Environmentalism
• Environmental Defense Fund (EDF)
• Forum for Nature Protection
• Fundación M’Biguá Ciudadanía y Justicia Ambiental
• NeoNepal
• The Nature Conservancy
• Ogiek Peoples' Development Program (OPDP)
• Pesticide Action Network (PANeM)
• U.S. Climate Action Network (USCAN)
• Women in Informal Employment: Globalizing and Organizing (Wiego)
• Zambia Climate Change Network (ZCCN)

Private sector organizations:

• Air Transport Action Group (ATAG)
• Amsterdam Capital Trading B.V.
• Business Council for Sustainable Energy (BCSE)
• ICF Incorporated, L.L.C.
• International Chamber of Commerce (ICC)
• International Emissions Trading Association (IETA)
• Philippine Chamber of Commerce and Industry, Inc. (PCCI)

The Board, having reviewed document B.BM-2014/04 Green Climate Fund Logo – Recommendation of the Logo Selection Panel:

1. Decides to accept the recommendation of the Logo Selection Panel and adopt the chosen design as the Fund’s logo;
2. Notes that the use of the logo, and the related visual identity of the Fund, should be clear and consistent in order to ensure visibility for the Fund’s actions;
3. Requests the Secretariat to develop visual identity guidelines for the Fund together with the designer;
4. Requests the Secretariat to trademark the logo design in order to protect its authorized usage and safeguard the Fund’s visual brand image;
5. Requests the Secretariat to announce and implement the new logo and visual identity across all of the Fund’s online and offline publications as soon as the visual identity guidelines are in place, and to communicate this appropriately to partners, stakeholders, and media accordingly;
6. Thanks the Logo Selection Panel and the designer for their work.

The Board, through a decision taken between meetings on a no‐objection basis:

Decides that its third meeting in 2014 will take place in Barbados from 14 to 17 October.

The Board, having reviewed document GCF/B.12/23 titled “Template Accreditation Master Agreement”:

1. Takes note of the information provided by the Secretariat in document GCF/B.12/23 and of the progress made to date by the GCF in engaging with accredited entities on the execution of Accreditation Master Agreements;
2. Considers the template Accreditation Master Agreement as set out in annex XXVI adequate for completing stage III of the accreditation process;
3. Acknowledges that substantive changes from the template Accreditation Master Agreement may be necessary on a case‐by‐case basis as a consequence of negotiations with accredited entities, which will each have unique circumstances and requirements that may need to be taken into account. The Accreditation Master Agreement template should be considered flexible enough to ensure executed Accreditation Master Agreements are fit for purpose;
4. Requests the Executive Director to regard the template Accreditation Master Agreement as the basis for negotiations with accredited entities. The Executive Director will determine, in consultation with the risk and legal teams, and the Risk Management Committee, whether or not a change is considered substantive on a case‐by‐case basis, and would require Board approval;
5. Decides to approve the policy guidance, to be deemed substantive under paragraph (d) above in respect of Accreditation Master Agreements as set out in annex XXVII;
6. Requests the Executive Director, as a matter of urgency, to prioritize the execution of Accreditation Master Agreements with those entities accredited by the Board, and to remain in regular communication with the Co‐Chairs between formal meetings on progress made to that end;
7. Affirms the importance and urgency for the Fund to have adequate policies addressing fraud, corruption and other prohibited practices and policies addressing anti‐money laundering and countering the financing of terrorism;
8. Decides to adopt the General Principles on Prohibited Practices, as presented in Exhibit A of the template Accreditation Master Agreement, as the Fund’s interim policy on prohibited practices to be observed by accredited entities, and readiness partners;
9. Requests the Risk Management Committee, with the support of the Secretariat, to further develop the Fund’s Policies on prohibited practices for consideration by the Board at its fourteenth meeting;
10. Also requests the Risk Management Committee, with support of the Secretariat, to develop processes and tools to implement the Fund’s interim policy, taking into account staffing and resources; and
11. Notes that the Secretariat has been mandated to pursue, as a matter of urgency, entering into bilateral agreements with countries in which the Fund operates on privileges and immunities reflecting prudent international practice, consistent with decision B.08/24 and

The Board:

1. Decides to adopt the Performance criteria and measurement procedures for the Executive Director as presented in annex X; and
2. Agrees to use the table as presented in annex X as a template for all Board-appointed officials for their performance framework.

The Board, having considered document GCF/B.01-13/02/Rev.01 Additional Rules of Procedure of the Board,

1. Adopted the provisions on applicability and definitions set out in Annex I to this report;
2. Adopted the Additional Rules of Procedure of the Board relating to observers set out in Annex II to this report;
3. Adopted the Additional Rules of Procedure of the Board relating to composition, selectionand term of Board membership set out in Annex III to this report;
4. Adopted the Additional Rules of Procedure of the Board relating to Co-Chairs set out in Annex IV to this report;
5. Adopted the Additional Rules of Procedure of the Board relating to meetings set out in Annex V to this report;
6. Adopted the Additional Rules of Procedure of the Board relating to meetings set out in Annex VI to this report;
7. Adopted the Additional Rules of Procedure of the Board relating to meetings set out in Annex VII to this report;
8. Adopted the Additional Rules of Procedure of the Board relating to decision-making and voting set out in Annex VIII to this report;
9. Adopted the Additional Rules of Procedure of the Board relating to confidentiality and conflict of interest set out in Annex IX to this report;
10. Adopted the Additional Rules of Procedure of the Board relating to amendments to the Additional Rules of Procedure set out in Annex X to this report;
11. Adopted the Additional Rules of Procedure of the Board relating to the overriding authority of the Governing Instrument set out in Annex XI to this report;
12. Requested the Co-Chairs to consider the matter of formal voting and report back to the Board at its June 2013 meeting;
13. Requested the Interim Secretariat, under the guidance of the Co-Chairs, to prepare a document on the participation of advisers for the June 2013 Board meeting;
14. Requested the Interim Secretariat, under the guidance of the Co-Chairs, to prepare a document on information disclosure, including webcasting, for the June 2013 Board meeting;
15. Requested the Interim Secretariat to publish the rules of procedure, as adopted, in a consolidated manner.

The Board,

Mindful of the need for a comprehensive travel policy,

1. Decided that until the adoption of such a policy, the full cost of travel and daily subsistence allowance1 of the Board members and alternate members from eligible2 developing countries to attend Board meetings, or any ancillary meetings decided by the Board, will be provided from the administrative budget of the Fund;
2. Further decided that the cost of travel and daily subsistence allowance of the Co-Chairs and Board members or alternate members nominated by the Board to represent the Fund will be provided from the administrative budget of the Fund, when traveling on Fund- related business, subject to authorization by the Board;
3. Noted that other than for travel and daily subsistence allowance, Board members and alternate members will not receive any compensation from the Fund for their participation in the meetings of the Board;
4. Decided to consider funding of travel expenses of advisers and/or active observers in the context of the Fund’s overall travel policy; and
5. Requested the Interim Secretariat to present to it at its September 2013 meeting a working document setting out a draft travel policy for the Fund, for approval by the Board, to be applied for funding the travel of Board members, alternate members, advisers, active observers and staff of the independent Secretariat.

The Board

Approved the Guidelines relating to the observer participation, accreditation of observer organizations and participation of active observers set out in the Annex XII to this report.

The Board, having reviewed the Draft Headquarters Agreement,

1. Took note of the Draft Headquarters Agreement between the Republic of Korea and the Green Climate Fund;
2. Requested the Interim Secretariat, under the guidance of the Co-Chairs, to finalize the Draft Headquarters Agreement between the Republic of Korea and the Green Climate Fund in consultation with the Government of the Republic of Korea;
3. Authorized its Co-Chairs to sign, on behalf of the Fund, the Headquarters Agreement between the Republic of Korea and the Green Climate Fund;
4. Further authorized the Executive Director, once appointed, to sign, after consultation with the Co-Chairs, on behalf of the Fund, supplementary agreements with the relevant authorities of the Republic of Korea as identified in the Headquarters Agreement between the Republic of Korea and the Green Climate Fund;
5. Authorized the Co-Chairs to sign, on behalf of the Fund, supplementary agreements with the relevant authorities of the Republic of Korea as identified in the Headquarters Agreement between the Republic of Korea and the Green Climate Fund.

The Board, having reviewed document GCF/B.01-13/06 Green Climate Fund Communication and External Representation,

1. Approved the scope of further work on communication outlined in Annex XIII to this document;
2. Requested members and alternate members of the Board to provide inputs by 15 March 2013 for the finalization of the communication products included in Annex III of document GCF/B.01-13/06 by the Interim Secretariat under the guidance of the Co-Chairs;
3. Requested the Interim Secretariat to prepare a concept note on the development of a communication strategy for the Fund, based on guidance provided by the Board, for consideration at the June 2013 Board; and to provide a draft communication strategy for the consideration of the Board at its September 2013 meeting;
4. Took note of the guidance on representation at external events outlined in Annex V of document GCF/B.01-13/06;
5. Decided that financial sponsorship of events should initially be discouraged, and appropriate and relevant requests for partnership in external events, with no associated financial commitment, should be considered by the Board on a no-objection basis;
6. Decided that the approach to Fund’s representation at future meetings of the Technology Executive Committee and on the Advisory Board of the Climate Technology Centre and Network is interim, pending the development of a broader Fund strategy on engagement with UNFCCC and external bodies;
7. Decided that the selection of a Board representative in response to the ad hoc requests for Board’s representation at future meetings of the Technology Executive Committee be guided by paragraph 8 of Annex IV to this report (Additional Rules of Procedure relating to the Co-Chairs);
8. Decided that the selection of a Board representative on the Advisory Board of the Climate Technology Centre and Network be undertaken intersessionally, once further clarity on the role, expectations and time commitment is provided by UNEP.

The Board, having reviewed document GCF/B.01-13/11 Business model framework of the Green Climate Fund:

1. Took note of, and welcomed, the work of the business model framework team, comprised of six Board members/alternate members, formed at its second meeting under decision B.02-12/03, in the preparation of the detailed terms of reference for a consultancy on the business model framework of the Green Climate Fund, as contained in the Annex of document GCF/B.01-13/11;
2. Noted that the following areas of convergence on the business model framework of the Fund are consistent with the Governing Instrument, namely that the Fund will be ambitious, flexible and scalable, have a country-driven and owned approach, employ direct access and other access modalities, and leverage additional public and private resources through the operational modalities of the Fund, including through the private sector facility;
3. Further noted convergence that the Fund should also:
   
   1. Recognize that a country driven approach is a core principle to build the business model of the Fund;
   2. Commence as a fund that operates through accredited national, regional and international intermediaries and implementing entities;
   3. Focus initially on grants and concessional lending, and employ additional financial instruments as necessary to effectively achieve the objectives of the Fund;
   4. Enhance transparency and accountability;
4. Decided that the areas of the business model framework set out in Annex XIV to this report should be the focus of further analysis and work to develop options for consideration by the Board at its June 2013 meeting;
5. Decided that the areas of the business model framework set out in Annex XV to this report should be the focus of further analysis and work to develop options for consideration by the Board at its September 2013 meeting;
6. Requested the Interim Secretariat, under the guidance of the Co-Chairs, to draw from, and build on, the work on the terms of reference for a consultancy on the business model framework of the Green Climate Fund to develop the parameters for the work set out in Annexes XIV and XV to this report;
7. Requested the Co-Chairs to work with the Interim Secretariat to ensure that there is overall coherence within the development of the business model framework work, as well as coherence between the business model framework work and the broader work plan of the Board;
8. Requested thereafter that the business model framework team provides guidance on the work set out in Annexes XIV and XV to this report and coherence, and report to the Board at its June and September 2013 meetings;
9. Requested the Interim Secretariat to undertake the work set out in Annexes XIV and XV to this report with the assistance of consultants, and reflect upon the views expressed at the March 2013 Board meeting and in submissions on the business model framework by the members and alternate members of the Board and observers;
10. Decided to authorize the Interim Secretariat, if necessary, to organize one or several meeting/s of the business model framework team to review the Board documents, under the guidance of the Co-Chairs, prior to the June and September 2013 Board meetings;
11. Decided to authorize the Interim Secretariat to organize an informal discussion on the business model framework documents one day prior to the June and September 2013 Board meetings;
12. Acknowledged that an amount of US$ 600,000 from the administrative budget of the Fund for the period from 1 November 2012 to 31 December 2013, as amended in this decision, may be used for the completion of the work set out in Annexes XIV and XV to this report;
13. Requested the Interim Secretariat, under the guidance of the Co-Chairs, to ensure that expenditure under this decision is efficient and cost-effective and to seek the Co-Chairs’ approval if there is a requirement to exceed the amount of US$ 600,000, noting the Co-Chairs may approve a larger allocation of funding for this work, provided that it can be accommodated within the administrative budget of the Fund for the period from 1 November 2012 to 31 December 2013, as amended in this decision;
14. Approved the administrative budget for the Fund for the period from 1 November 2012 to 31 December 2013, as adopted in decision B.02-12/06 for the Interim Secretariat, and specifically the amount allocated for consultancies, be increased by US$ 150,000;
15. Invited contributions to the Green Climate Fund Trust Fund; and
16. Authorized the Interim Trustee to make additional cash transfers of US$ 150,000 from the Green Climate Fund Trust Fund to the UNFCCC secretariat for the Interim Secretariat for this purpose, subject to available resources in the Green Climate Fund Trust Fund, as determined by the Interim Trustee.

The Board, having considered document GCF/B.01-13/05 Progress Report of the Executive

Director Selection Committee,

1. Approved the terms of reference, including the job description and qualifications, for the Executive Director set out in Annex XVI to this report;
2. Authorized the Interim Secretariat to advertise the vacancy announcement.

The Board, having reviewed document GCF/B.01-13/04 Administrative Policies of the Independent Secretariat,

1. Requested the Interim Secretariat to further explore the feasibility of the options presented in document GCF/B.01-13/04, including a United Nations common system, a multilateral development bank system and a United Nations common system – multilateral development bank system hybrid option based on the International Fund for Agricultural Development and the Asian Development Bank, in its further work on preparing the administrative policies of the independent Secretariat and prepare a working document for an intersessional decision by the Board on a no-objection basis;
2. Decided that, upon an intersessional agreement of the Board, all necessary documents to this effect will be commissioned during the course of the next months and be ready for consideration by the Board at its next meetings in line with the timetable set out in Annex XVII to this report to ensure the transition from the Interim Secretariat to the independent Secretariat by December 2013;
3. Decided that, should the Board not agree intersessionally to an option for the administrative policies of the independent Secretariat, the matter be brought forward to the Board for consideration at its June 2013 meeting.

The Board, having reviewed document GCF/B.01-13/07 Resource mobilization for the Green Climate Fund,

Approved the scope of further work set out in Annex XVIII to this report.

The Board, having reviewed document GCF/B.01-13/08 Modalities for Readiness and Preparatory Support,

1. Adopted the scope of further work on the modalities for readiness and preparatory support set out in Annex XIX of document GCF/B.01-13/08;
2. Decided to explore options for making short-term progress on readiness, including, given the availability of resources, to initiate work on operationalizing a readiness phase, including on:
   
   1. identifying and engaging with existing initiatives and programmes on readiness and preparatory support in order to enhance learning and ensuring coherence, including a possible workshop;
   2. identifying short-term initiatives to support readiness and preparatory support; and
   3. assessing available information on readiness and preparatory support needs and gaps;
3. Invited countries to provide additional resources to the administrative budget of the Fund.

The Board, having reviewed document GCF/B.01-13/10 Arrangements between the Conference of the Parties to the United Nations Framework Convention on Climate Change and the Green Climate Fund,

1. Recognized that the provisions contained in Article 11, paragraph 3, and decision 3/CP.17 of the of the United Nations Framework Convention on Climate Change and the Governing Instrument form the basis for arrangements between the Conference of the Parties and the Green Climate Fund, and that the Standing Committee on Finance and the Board develop the arrangements between the Conference of the Parties and the Green Climate Fund, consistent with decision 7/CP.18 of the Conference of the Parties at its eighteenth session;
2. Took note of the outcome of the Standing Committee on Finance discussion on the arrangements between the Conference of the Parties and the Green Climate Fund, as communicated by the Co-Chairs of the Standing Committee on Finance;
3. Decided that the Co-Chairs be mandated to develop, in accordance with paragraph 1 of decision 7/CP.18, the draft arrangements between the Conference of the Parties and the Green Climate Fund with the Co-Chairs of the Standing Committee on Finance;
4. Further decided that the draft arrangements between the Conference of the Parties and the Green Climate Fund be presented for consideration at the June 2013 Board meeting to be further developed for adoption at the September 2013 meeting for presentation to the Conference of the Parties at is nineteenth session for agreement.

The Board, having reviewed document GCF/B.01-13/09/Rev.01 Logo of the Green Climate Fund,

1. Requested the Interim Secretariat to launch an international competition inviting art and design schools and universities worldwide, and the broader public through the Fund’s website, to submit a proposal for a logo of the Fund that depicts its ideals and character. In order to attract youth participation, an age limit of 25 years will apply;
2. Agreed that the purpose of launching this competition will be to raise awareness:
   
   1. Of the Green Climate Fund;
   2. Of challenges and threats posed by climate change, in particular among the young generation;
3. Agreed that the logo of the Fund should:
   
   1. Reflect the resolve of the international community to address and overcome climate change;
   2. Reflect the inclusive and distinct institutional character of the Fund which involves States, private sector and civil society, working together to address the challenge of climate change;
   3. Be in line with the objectives of the Fund to achieve a new paradigm through low- emission and climate-resilient development pathways;
4. Requested the Interim Secretariat to develop a set of rules for the competition;
5. Requested the Co-Chairs to address a letter, containing an entry form, rules of the competition, and information regarding the work of the Fund, to the heads of such schools and universities, requesting them to inform and invite interested individuals to design the logo of the Fund. Such letters will also be addressed to the ministers of environment and/or climate change to ensure the widest possible circulation of the invitation. The same information will be posted on the Fund’s website;
6. Decided that:
   
   1. Entries for the logo of the Fund should be received by the Interim Secretariat no later than 30 June 2013;
   2. The Board, at its June 2013 meeting, will constitute a Selection Panel, supported by the Interim Secretariat, comprising:
      • Three members/alternate members from the developed countries and three members/alternate members from the developing countries;
      • A representative of civil society;
      • A representative of the private sector;
      • A well-known graphic designer, by invitation and on a pro-bono basis, with substantial experience in designing logos; and
      • The Director of the Interim Secretariat.
   3. The Interim Secretariat, in accordance with the rules of the competition, will present a shortlisted set of 100 entries to the Selection Panel for it to assess and make a recommendation to the Board at its September 2013 meeting;
7. Decided that the set of rules will also be used by the selection panel to evaluate submissions and make a decision based on pre-selected criteria. The winner will be announced during the September 2013 Board meeting;
8. Agreed that the cost of travel and up to two days of accommodation for the individual/group (maximum two persons) or its representative whose logo proposal is selected by the Board to attend a presentation will be borne from the administrative budget of the Fund;
9. Agreed that the approved logo of the Fund and the name of the individual/group who designed it will be displayed at the headquarters of the Fund.

The Board

1. Decided that its second meeting in the year 2013 will take place in Incheon City, Republic of Korea, on 25-28 June 2013; and
2. Decided that its third meeting in the year 2013 will take place on 4-6 September 2013, with preparatory meetings on 3 September 2013, at a venue to be confirmed.

The Board:

1. Approved the report of the first meeting of Board as contained in Annex II to document GCF/B.02‐12/11, with amendments (subsequently issued as document GCF/B.01‐12/10);
2. Agreed to publish the report of the first meeting of the Board on the Green Climate Fund website.

The Board:

1. Approved paragraph 3 of Annex III (Additional Rules of Procedure relating to Co‐Chairs) to document GCF/B.02‐12/02;
2. Decided, in accordance with the recommendations from the team on Additional Rules of Procedure, to organize a meeting of the team to continue their work one day prior to the third Board meeting.

The Board:

1. Agreed to take decisions with an aim to finalize the Fund’s business model and consider each related matter in detail as part of the Board’s work plan until the end of 2013;
2. Agreed in principle to the elements of the Board’s work plan until the end of 2013, as set out in Annex IV to document GCF/B.02‐12/03;
3. Agreed to the indicative priority matters in the work plan until the end of 2013, as set out in Annex III to this report;
4. Agreed to the indicative timeline for the Board’s work plan until the end of 2013, as set out in Annex IV to this report, noting that the Board will manage the timeline on a meeting‐by‐ meeting basis;
5. Agreed to the list of matters for consideration at its next meeting as outlined in Annex V to this report;
6. Requested the Interim Secretariat to prepare documents listed in Annex VI to this report for the first Board meeting in 2013;
7. Requested the team of six Board members/alternate members to facilitate the preparation of the documents on the business model framework. These Board members/alternate members are: Mr. Arnaud Buisse, Mr. Nick Dyer, Mr. Derek Gibbs, Mr. Kjetil Lund, Mr. Tosi Mpanu Mpanu and Ms. Adriana Soto.

The Board:

1. Decided by consensus to select Songdo, Incheon City, Republic of Korea, as the host city of the Fund;
2. Agreed to present this decision for endorsement to the Conference of the Parties (COP) of the United Nations Framework Convention on Climate Change (UNFCCC) at its eighteenth session.

The Board:

1. Approved the Standard Provisions applicable to the Green Climate Fund Trust Fund in Annex II to document GCF/B.01‐12/05/Rev.01;
2. Approved the Transfer Agreement under the Green Climate Fund Trust Fund (MTO No. 069022) with the UNFCCC secretariat in connection with the Interim Secretariat in Annex III to document GCF/B.01‐12/05/Rev.01.

The Board, having reviewed document GCF/B.02‐12/06/Rev.01, and making a record of:

• Funds available for disbursement of US$ 2.7 million as at 19 October 2012;
• Previous pledges anticipated to be paid in of US$ 2.5 million;
• New pledges made at the meeting of US$ 1.5 million; and
• Strong commitments to additional pledges made,

1. Approved, from resources available or to be made available in the Green Climate Fund Trust Fund (GCFTF), the administrative budget of the Fund for the period from 1 November 2012 to 31 December 2013 of US$ 7,481,000, as set out in Table 2 of document GCF/B.02‐12/06/Rev.01;
2. Authorized the Interim Trustee to make cash transfers from the GCFTF to the UNFCCC and Global Environment Facility (GEF) secretariats as the Interim Secretariat, and to the World Bank as the Interim Trustee, in accordance with the administrative budget of the Fund approved by the Board, subject to adjustment based upon revised costs and expenditures to be incurred. In the event the Interim Trustee determines that the amount of available resources in the GCFTF will be insufficient to cover the total estimated budgets specified in (a) above, the Board authorizes the Interim Trustee to make cash transfers to the Interim Secretariat and the Interim Trustee up to the pro rata amount of available resources in the GCFTF to cover such total estimated budget as determined by the Interim Trustee;
3. Authorized the Interim Secretariat to recruit staff for the period from 1 November 2012 to 31 December 2013, in accordance with the administrative budget of the Fund approved by the Board and subject to availability of resources, by:
   
   1. Issuing fixed term contracts up to December 2013;
   2. Further staff assignments from the UNFCCC and GEF secretariats;
   3. Reimbursable secondments of experts from relevant institutions; and/or
   4. Hiring consultants for extended periods of time;
4. Took note of the supplementary information presented in the document, including on the status of financial resources in the GCFTF.

The Board:

1. Took note of the information presented in document GCF/B.02‐12/07;
2. Requested the Board members to submit any comments they may have on the document to the Interim Secretariat no later than 3 November 2012.

The Board:

1. Decided to establish an Executive Director Selection Committee consisting of six Board members (H.E. Mr. Jan Cedergren, H.E. Mr. Ernesto Cordero Arroyo, Mr. Omar El‐Arini, H.E. Ms. Audrey Joy Grant, Mr. Manfred Konukiewitz and Mr. Alexey Kvasov ) that will oversee the selection process and make recommendations to the Board;
2. Agreed to request the Executive Director Selection Committee to:
   
   1. Agree to revise the draft terms of reference for the Executive Director (Annex III of document GCF/B.02‐12/08), taking into account written comments received from Board members, which will be provided no later than 3 November 2012;
   2. Decide the selection process for the Executive Director, considering the most effective and efficient approach, including whether an executive search firm is required to assist in the process;
   3. In the event that an executive search firm is the option of choice, agree on the terms of reference for the search firm, and provide guidance to the Interim Secretariat to identify a suitable firm in a cost‐effective manner, for approval by the Selection Committee;
   4. Approve the text and media for disseminating the advertisement for the Executive Director;
   5. Agree a short‐list of candidates, interview the short‐listed candidates and create a final list of three candidates without ranking for consideration by the Board, at its third meeting;
   6. Incur expenses of up to US$ 200,000, ensuring expenditure is efficient and cost‐effective. If there is a requirement to exceed this amount, the Selection Committee will seek the Co‐Chairs’ approval; and
   7. Keep the Board informed of progress, including a report to the third meeting addressing action in relation to sub‐paragraphs (i)‐(vi) above.