Boardroom

The Board, having considered document GCF/BM-2022/04 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:
Accountability Counsel (AC)
Youth Foundation of Bangladesh (YFB)
Youth Partnership for Peace and Development (YPPD)

Private sector organizations:
Ricardo-AEA Ltd (Ricardo Energy & Environment)

International entities:
Economic Community of West African States (ECOWAS)

The Board, having considered document GCF/B.32/02 titled “Consideration of funding proposals”:

1. Takes note of the following funding proposals:
   1. Funding proposal 184 titled “Vanuatu community-based climate resilience project (VCCRP)" by Save the Children Australia, as contained in document GCF/B.32/02/Add.01 and 08;
   2. Funding proposal 185 titled “Climate Change: The New Evolutionary Challenge for the Galapagos" by Corporación Andina de Fomento, as contained in document GCF/B.32/02/Add.02 and 08;
   3. Funding proposal 186 titled “India E-Mobility Financing Program" by Macquarie Alternative Assets Management Limited, as contained in document GCF/B.32/02/Add.05; and (iv) Simplified funding proposal 024 titled “Pakistan Distributed Solar Project" by JS Bank Limited, as contained in document GCF/B.32/02/Add.06;
2. Approves funding proposal 184 for the amount of USD 26,182,878, submitted by Save the Children Australia, subject to the conditions set out in annex I and in the respective term sheet set out in document GCF/B.32/02/Add.08;
3. Also approves funding proposal 185 for the amount of USD 65,271,299, submitted by Corporación Andina de Fomento, subject to the conditions set out in annex I and in the respective term sheet set out in document GCF/B.32/02/Add.08;
4. Further approves funding proposal 186 for the amount of USD 200,000,000 submitted by Macquarie Alternative Assets Management Limited, subject to the conditions set out in annex I and in the respective term sheet set out in document GCF/B.32/02/Add.05;
5. Approves simplified funding proposal 024 for the amount of USD 10,000,000, submitted by JS Bank Limited, subject to the conditions set out in annex I and in the respective term sheet set out in document GCF/B.32/02/Add.06;
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 document GCF/B.32/03 titled “Status of approved funding proposals: Request for Tranche 2 for FP103 - Promotion of Climate-Friendly Cooking: Kenya and Senegal”:

1. Recalls decision B.22/07, paragraph (h), pursuant to which the Board decided that the Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH may seek further approval of the Board of commitment of further funding in an amount when aggregated with amounts previously approved by the Board, no greater than EUR 38,360,000, subject to the conditions set by the Board in annex III to that decision;
2. Takes note of the Tranche 2 Proposal in respect of funding proposal 103 titled “Promotion of Climate-Friendly Cooking: Kenya and Senegal”, by the Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH, as contained in annex III to document GCF/B.32/03;
3. Approves the Tranche 2 Proposal in respect of funding proposal 103 for the amount of EUR 21,851,000, submitted by the Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH;
4. Authorizes the Secretariat to negotiate the necessary amendments to the funded activity agreement for funding proposal 103 to give effect to the approval of the Tranche 2 Proposal in paragraph (c) above; and
5. Also authorizes the Secretariat to disburse fees in respect of Tranche 2 of funding proposal 103 approved by the Board as per the disbursement schedule to be agreed in the amendments to 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.32/04 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 R044 (RAPL044) is the Korea Development Bank (KDB), based in the Republic of Korea, as contained in annex II to this document; and
   2. Applicant R016 (RAPL016) is the Conservation International Foundation (CI), based in the United States of America, as contained in annex III to this document;
   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 original accreditation master agreement, in accordance with decision B.24/13;
2. Also takes note of the efforts of KDB to advance the purpose of the GCF, including through KDB’s climate finance framework and related statements in the context of the United Nations Framework Convention on Climate Change and the Paris Agreement;
3. Approves the re-accreditation of applicant R044 (RAPL044), the Korea Development Bank (KDB), based in the Republic of Korea, as contained in annex II to this document; and
4. Also approves the re-accreditation of applicant R016 (RAPL016), the Conservation International Foundation (CI), based in the United States of America, as contained in annex III to this document.

The Board, having considered document GCF/B.32/09 titled “Co-Chairs’ note on strategic planning and programming matters”:

1. Recalls decision B.24/02, decision B.24/04, by which the Board endorsed the policy cycle for 2020–2023, and decision B.27/06, by which the Board adopted the updated Strategic Plan for 2020–2023;
2. Requests the Secretariat to present the findings of the Secretariat-led review of the GCF policy frameworks at the thirty-third meeting of the Board, as per paragraph 38 of the updated Strategic Plan for 2020–2023;
3. Decides to conduct an open, inclusive, transparent consultation process engaging Board members and alternate Board members, national designated authorities, accredited entities, active observers, observer organizations and parties to the United Nations Framework Convention on Climate Change and the Paris Agreement, members of GCF panels and groups including the Indigenous Peoples Advisory Group, and other stakeholders to inform the review and update of the Strategic Plan;
4. Requests the Secretariat to facilitate the open, inclusive, transparent consultation process through, inter alia:
   1. Calls for submissions;
   2. Engagement with national designated authorities and accredited entities on programming needs and opportunities; and
   3. Producing summaries of inputs and publishing inputs on the GCF website;
5. Also requests the Secretariat, under the guidance of the Co-Chairs, to present to the Board the review of the updated Strategic Plan at the thirty-fourth meeting of the Board and a zero draft of the updated Strategic Plan for its consideration at the thirty-fourth meeting of the Board, taking into account the summary findings of the second performance review, the findings of the policy review and inputs received through the consultation process described in paragraph (c) above;
6. Decides to have an informal day at the thirty-third and thirty-fourth meetings of the Board to exchange views on the GCF strategic vision, objectives and priorities for the coming replenishment cycle, taking into account evolving priorities including guidance of the Conference of the Parties to the United Nations Framework Convention on Climate Change, the Conference of the Parties serving as the meeting of the Parties to the Paris Agreement, and relevant reports from the Independent Evaluation Unit, and to assess opportunities for GCF strategic programming in the second replenishment period; and requests the Secretariat to incorporate the views into the revised updated Strategic Plan referred to in paragraph (e);
7. Decides to conclude its consideration of the update of the GCF strategic plan no later than the thirty-sixth meeting of the Board;
8. Confirms that, as part of the strategic programming exercise, it will consider the evidence and findings of the second performance review, delivered in accordance with the 2022 Independent Evaluation Unit workplan and the schedule noted by paragraph (f) of decision B.BM-2021/11; and
9. Requests the Co-Chairs to prepare a draft decision for the consideration of the Board at its thirty-third meeting in order to launch the replenishment process, and that the process will be conducted in an open, transparent, and inclusive manner

The Board, having considered document GCF/B.32/05 titled “Update of the simplified approval process”, and with reference to decision B.18/06, which mandated the review of the simplified approval process Pilot Scheme:

1. Approves the update of the simplified approval process as set out in annex IV;
2. Requests the Secretariat in close consultation with the independent Technical Advisory Panel and considering the rolling review procedure outlined in decision B.28/03, to simplify the process and reduce the information required for the review of the simplified approval process proposals in a manner that takes into account their smaller size and minimal or no adverse environmental and/or social risks and/or impacts;
3. Also requests the Secretariat to include, starting from the 2023 work programme, granular and progressively ambitious key performance indicators for the simplified approval process (including for the post-approval stage) taking into account, among other things, the recommendations provided in the Independent Assessment of the Simplified Approval Process Pilot Scheme (GCF/B.30/07) and the Secretariat’s management response thereto (GCF/B.30/07/Add.01);
4. Further requests the Secretariat to ensure the continued provision of readiness support for simplified approval process funding proposal preparation and access as part of the current readiness and preparatory support programme and for more comprehensive simplified approval process support to be addressed in the 2023 update to the readiness and preparatory support programme;
5. Confirms that the scale of simplified approval process projects will be increased to a total GCF contribution of USD 25 million per funding proposal as per paragraph 4(a) of annex IV;
6. Also confirms that the scope of activities under the simplified approval process projects remains with no to minimal adverse environmental and/or social risks and/or impacts, as per paragraph 4(b) of annex IV;
7. Further confirms that the simplified approval process strategy will be addressed as part of the Board’s 2022–2023 strategic programming activities;
8. Agrees to review the update of the simplified approval process policy as part of the overall policy cycle for the next programming period;
9. Confirms that matters related to a principle for the presumed existence of climate rationale for the review of adaptation funding proposals under the simplified approval process, based on the existence of unequivocal evidence and science from the Intergovernmental Panel on Climate Change, and local and traditional knowledge will be taken up, and integrated into, the ”Steps to enhance climate rationale” paper to be considered in an upcoming meeting of the Board; and
10. Requests the Secretariat to continue to identify areas for further simplifications within the GCF processes, to inform the review of the simplified approval process and its implementation as noted in paragraph (h) above.

The Board, having considered document GCF/B.32/06 titled “Review of the initial private sector facility modalities and the private sector strategy”:

1. Takes note of the findings and recommendations in the Independent Evaluation of the GCF’s Approach to the Private Sector undertaken by the Independent Evaluation Unit, the Secretariat’s management response, and the Board’s consideration of these pursuant to decision B.30/11;
2. Requests the Independent Evaluation Unit to present a management action report to the Board no later than one year following the adoption of this decision in line with the Evaluation Policy of GCF;
3. Recognizes that meeting the parameters and guidelines for the allocation of resources during the GCF first replenishment programming period, as agreed under decision B.27/06, paragraph (i), requires a significant increase over 2022 and 2023 in Private Sector Facility programming overall, and in particular an increase in direct access and in adaptation programming through the Private Sector Facility;
4. Adopts the private sector strategy as set out in annex V, which builds on the updated Strategic Plan for the GCF 2020–2023 and its strategic priority of catalysing private sector finance at scale;
5. Requests the Secretariat to engage with national designated authorities and accredited entities to urgently promote the participation of private sector actors in developing countries, including small and medium-sized enterprises and local financial intermediaries, and to enable private sector involvement in least developed countries and small island developing States;
6. Takes note of the proposed non-exhaustive list of priority areas for GCF private sector programming:
   
   1. Submission by direct access entities;
   2. Focus on adaptation;
   3. Engagement of local private sector actors, including micro, small and mediumsized enterprises;
   4. Support for climate technology incubators and accelerators in developing countries;
   5. Utilization of the diverse financial instruments of GCF, including exploring options to facilitate increased access to equity, guarantees and insurance products, and design and deployment of other innovative instruments; and
   6. Demonstration of significant potential to catalyse private sector finance at scale;
7. Reconfirms GCF’s overall risk appetite statement that in order to realize significant impact and promote paradigm shift to meet the Fund’s strategic objectives, the Fund is willing to accept considerable uncertainties around investment risks in return for impact potential,¹ which in the context of the private sector strategy means the Fund will promote enhanced support to the domestic private sector in developing countries, including through direct access entities, by providing early-stage financing to new, pre-commercially viable technologies or business models and climate initiatives, and deploy first-loss anchor investments as well as support financial innovations to catalyse investments in adaptation and mitigation projects;
8. Requests the Secretariat to encourage and facilitate the use of the Readiness and Preparatory Support Programme and Project Preparation Facility to support countrydriven private sector engagement, through the national designated authorities, enhancing the role of the private sector in implementing nationally determined contributions, national adaptation plans and long-term climate strategies, and to accelerate the development of the private sector pipeline;
9. Welcomes the private sector outreach plan, as contained in annex VI, noting that this is a living document that will be operationalized to promote the implementation of the private sector strategy in conjunction with delivery of the Secretariat’s annual work programmes;
10. Takes note that the Secretariat, in implementing the private sector outreach plan, will engage with leading experts in and representatives of the private sector on a period and structured basis to advise the Private Sector Facility on global trends and opportunities for GCF in catalysing private sector financial flows for mitigation and adaptation in developing countries, and on enhancing GCF private sector engagement and programming; and
11. Requests the Secretariat to report to the Board at its thirty-fourth meeting on the operationalization and implementation of the strategy, including a set of actions and accompanying timetable, and annually thereafter on progress in implementing the strategy and outreach plan.

¹Risk appetite statement as adopted by the Board in annex VI to decision B.17/11.

The Board, having considered document GCF/B.32/08 titled “Matters related to accreditation: report on the analysis of the accredited entity portfolio”:

Takes note of the analysis of the accredited entity portfolio as at 31 March 2022 presented by the Secretariat in annex VII to this document.

The Board, having considered document GCF/B.32/10 titled “Guidance from the twentysixth session of the Conference of the Parties”:

1. Takes note of this report, including the actions to be undertaken by the Board and Secretariat in 2022 in response to guidance received from the Parties during the twentysixth session of the Conference of the Parties, as contained in annex VIII;
2. Requests the Co-Chairs, with the support of the Secretariat, to include an overview of progress on the updated four-year workplan of the Board in the eleventh report of the Green Climate Fund to the Conference of the Parties to the United Nations Framework Convention on Climate Change;
3. Agrees to clarify the use of data and information from, inter alia, the Intergovernmental Panel on Climate Change, and traditional, local and indigenous knowledge and practices in the assessment of concept notes, project preparation funding applications and funding proposals; and to provide this clarification, with the support of the Secretariat, in the consideration of relevant policies as part of its workplan;
4. Requests the Secretariat to present by the thirty-fourth meeting of the Board an information paper for the consideration of the Board for diversifying its selection of financial instruments for addressing climate risk, including parametric insurance for climatic events; and
5. Also requests the Secretariat to prepare by the thirty-third meeting of the Board an information paper outlining the current approach on financing for forests and alternative approaches

The Board, having considered the document GCF/B.32/11 titled “Guidelines for the operation of Board committees: Co-Chairs’ proposal”:

1. Adopts the General guidelines for the operation of Board committees, as set out in annex IX to this document;
2. Amends the terms of reference of standing committees of the Board to reflect these guidelines, as appropriate; and
3. Decides to consider the review of committees, panels and groups, mandated pursuant to decision B.25/03, paragraph (c), at the thirty-fourth meeting of the Board.

The Board, having considered document GCF/B.32/12 titled “Next steps in the event that a Board member is unable to join consensus regarding the outcome of the balloting procedure”:

1. Recalls decision B.23/03, paragraph (d);
2. Decides that in the event that at least one Board member expresses the view that they are unable to join the consensus regarding the outcome of the procedure for confidential balloting (“Balloting Procedure”) set out in section VI of the Procedures for adopting decisions in the event that all efforts at reaching consensus have been exhausted adopted pursuant to decision B.23/03 (“Decision-Making Procedures”):
   1. The Co-Chairs will first further consult with the Board member(s) who has expressed the view that they are unable to join consensus regarding the outcome of the Balloting Procedure;
   2. If after such consultations, the Board member(s) continues to express the view that they are unable to join the consensus, the Board member(s) may make use of the options set out in section II, paragraphs 7(b)—(e) of the Decision-Making Procedures in order to allow the relevant decision to be adopted; and
   3. If the Board member(s) does not wish to make use of any such option, section V of the Decision-Making Procedures shall apply mutatis mutandis to the decision appointing the relevant Board-appointed official; and
3. Requests the Co-Chairs to update annex I to decision B.23/03 to reflect paragraph (b) above.

The Board, having considered document GCF/B.32/13 titled “Draft Co-Chairs’ proposals on the guidelines to determine in which cases decisions without a Board meeting may be requested”:

1. Adopts the guidelines to determine in which cases decisions without a Board meeting may be requested as set out in annex X; and
2. Also adopts the guidance in respect of the implementation of paragraph 43 of the Rules of Procedure of the Board and in respect of other related matters as set out in annex XI.

The Board, having considered document GCF/B.32/14, titled “Dates and venues of upcoming meetings of the Board”:

1. Decides and confirms that the thirty-third meeting of the Board will take place from Sunday, 17 July to Wednesday, 20 July 2022 as an in-person meeting in the Republic of Korea;
2. Also decides that the thirty-fourth meeting of the Board will take place from Monday, 17 October to Thursday, 20 October 2022, as an in-person meeting in the Republic of Korea;
3. Further decides that the thirty-fifth meeting of the Board will take place from Monday, 13 March to Thursday, 16 March 2023;
4. Decides that the thirty-sixth meeting of the Board will take place from Monday, 10 July to Thursday, 13 July 2023;
5. Also decides that the thirty-seventh meeting of the Board will take place from Monday, 23 October to Thursday, 26 October 2023; and
6. Requests the Co-Chairs to continue to monitor the impact of the coronavirus disease 2019 (COVID-19) pandemic on the operations of GCF, and to report to the Board appropriately.

The Board:

1. Recognizes the current extraordinary circumstances resulting from the outbreak of the Omicron variant of coronavirus disease 19 (COVID-19)in the Republic of Korea;
2. Takes note that the Co-Chairs, guided by the best interests of the Fund pursuant to paragraph 10 of the Rules of Procedure of the Board, and on an exceptional basis and in the light of such current extraordinary circumstances, decided to change the modality of the thirty-first meeting of the Board to a net-meeting;
3. Confirms that the invocation by the Co-Chairs of paragraph 10 of the Rules of Procedure of the Board was warranted on an exceptional basis and in the light of the current extraordinary circumstances; and
4. Ratifies the decision of the Co-Chairs to change the modality of the thirty-first meeting ofthe Board to a net-meeting.

The Board, having considered the document GCF/B.31/09 titled “Appointment of members to the committees of the Board”:

1. Appoints as members of the Accreditation Committee, for a term starting on 1 January 2022:
   1. Mr. Antwi Boasiako Amoah;
   2. Ms. Gisella Berardi;
   3. Ms. Ornela Çuçi;
   4. Ms. Jennifer De Nijs; and
   5. Mr. Jan Wahlberg;
2. Also appoints as members of the Budget Committee, for a term starting on 1 January 2022;
   1. Ms. Katrijn Coppens;
   2. Mr. José Delgado;
   3. Ms. Kyunghee Kim;
   4. Ms. Marta Mulas Alcantara; and
   5. Mr. Karma Tshering;
3. Further appoints as members of the Ethics and Audit Committee, for a term starting on 1 January 2022:
   1. Mr. Wael Ahmed Kamal Aboul-Magd;
   2. Mr. Nauman Bashir Bhatti;
   3. Mr. Stéphane Cieniewski;
   4. Mr. Mathew Haarsager;
   5. Ms. Fiona Ralph; and
   6. Mr. Albara Tawfiq;
4. Appoints as members of the Investment Committee, for a term starting on 1 January 2022;
   1. Ms. Isatou F. Camara;
   2. Mr. Toshihiro Kitamura;
   3. Ms. Annette Windmeisser;
   4. Ms. Eliette Riera;
   5. Mr. Tlou Emmanuel Ramaru; and
   6. Ms. Yan Ren;
5. Also appoints as members of the Performance Oversight Committee of the Executive Director and Heads of Independent Units, for a term starting on 1 January 2022:
   1. Mr. Nauman Bashir Bhatti;
   2. Mr. Jean-Christophe Donnellier;
   3. Mr. Mathew Haarsager; and
   4. Mr. Tlou Emmanuel Ramaru.

The Board, having considered document GCF/BM-2021/27 titled “Revised terms of reference for the Head of the Independent Evaluation Unit”:

Adopts the revised terms of reference for the Head of the Independent Evaluation Unit as contained in annex I of this document.

The Board, having considered document GCF/B.31/13 titled “Selection process of the Heads of the Independent Units”:

1. Decides to amend the terms of referenceof theAd Hoc Selection Committee and the EAC selection process to include the selection process for the Heads of the Independent Integrity Unit and Independent redress Mechanism, as set out in annex II;
2. Decides that the Ethics and Audit Committee, in accordance with its ToR approved by Decision B.10/05, to make a recommendation to the Board on a candidate for the head of the IIU;
3. Also decides that the Ethics and Audit Committee, will make a recommendation to the Board on a candidate for the Head of the IRM;
4. Appoints as members of the Ad Selection Committee for the IEU:
   1. Ms. Nadia-Spencer Henry;
   2. Ms. Pacific Ogola;
   3. Mr. Karma Tshering;
   4. Mr. Lars Roth;
   5. Ms. Marta Mulas Alcantara; and
   6. Mr. Hans Olav Ibrekk;
5. Takes note of Board decision B.31/03 on the revised Terms of Reference of the Head of the Independent Evaluation Unit;
6. Decides to expand the scope of work of the procured selection firm to as set out in Annex II and request the Budget Committee to allocate the resources required to for this purpose;
7. Authorizes the Secretariat to amend the contract with the independent executive search firm, with due observance of applicable rules; and
8. Further requests the Selection Committee and the EAC to present their reports containing the recommendations regarding the outcome of the recruitment process in order for the Board to select the Head of the Independent Evaluation Unit, the Head of IIU and the Head of IRM no later than the thirtieth-fourth meeting.

The Board:

1. Takes note that the current four-year term of the Trustee expires on [11 April 2023];
2. Requests the Secretariat to undertake a review of the performance of the Trustee and the value for money of the services provided by the Trustee;
3. Also requests the Secretariat to notify the Board promptly upon the completion of the review in order for the Board to approve the renewal ofthe Trustee arrangements;
4. Confirms that once the Board renews the Trustee’s appointment, the Executive Director shall finalize the renewal of the term of the Trustee for a further four-year period, including by executing the necessary legal and administrative arrangements with the International Bank for Reconstruction and Developmentby the end of 2022, in a manner which ensures there is no discontinuity in trustee services;
5. Decides that, in respect of subsequent renewals of the term of the Trustee, the Secretariat is authorized to review the performance of the Trustee over the relevant period and, unless considered unsatisfactory by the Secretariat, to further renew the term of the Trustee; and
6. Also decides that in the event that:
   1. The Secretariat considers the outcome any of the reviews referred to in paragraph (e) above to be unsatisfactory;
   2. The Trustee wishes to materially deviate from the terms of reference of the Trustee as part of the renewal of term;
   3. The Trustee does not have an interest in continuing to provide trustee services to GCF; or
   4. The Secretariat and the Trustee are not able to conclude the necessary legal and administrative arrangements in a timely manner;
   The Secretariat shall promptly notify the Board and the Board shall take such action as is necessary to ensure there is no discontinuity in trustee services.

The Board, having considered document GCF/B.31/12 titled “Matters related to accreditation: Co-Chairs’ proposal on the updates to the accreditation framework”:

1. Takes note of the findings and recommendations in the Independent Synthesis of the GCF’s Accreditation Function undertaken by the Independent Evaluation Unit (see document GCF/B.26/Inf.05), as well as other related Independent Evaluation Unit evaluations that covered matters related to the GCF’s accreditation systems, the Secretariat’s management responses, and views from the Board in accordance with decision B.30/11;
2. Requests the Independent Evaluation Unit to present a management action report to the Board no later than one year following the adoption of this decision;
3. Agrees to the revised definitions of the size categories as contained in annex III to this document regarding the “scale of intended activities” and that these definitions shall apply to projects and programmes approved at or after the first Board meeting in 2024;
4. Adopts the updates to the accreditation framework set out in annex IV to this document to replace the initial guiding framework for the accreditation process adopted by the Board pursuant to decision B.07/02, paragraph (a), as of the date of effectiveness set out in annex IV;
5. Requests, pursuant to paragraph (d) above, the Accreditation Panel, with the support of the Secretariat, to establish a roster of competent external consultants and/or consultancy firms in accordance with the Administrative Guidelines on Procurement, and approves an additional budget of USD 700,000 under the administrative budget of the Board to be executed during the years 2022 and 2023 for the use of such external consultants and/or consultancy firms;
6. Also requests the Accreditation Committee, in consultation with the Secretariat and Accreditation Panel, to update the draft working modalities of the Accreditation Panel set out in annex I to document GCF/B.21/Inf.10 titled “Reports from committees, panels and groups of the Board of the Green Climate Fund” to reflect the use of external consultants and/or consultancy firms in the context of reviews of entities in Stage II (Step I), with a view to presenting such working modalities to the Board for its consideration no later than at its first meeting in 2023;
7. Decides, pursuant to decision B.23/11, to implement, on a pilot basis, a project-specific assessment approach that combines assessments undertaken during the existing accreditation and proposal approval processes in a fit-for-purpose manner, in accordance with the parameters set out in annex IV and taking into account decision B.19/13, paragraph (d);
8. Also decides, pursuant to paragraph (g) above, to request the Secretariat and the independent Technical Advisory Panel to prioritize, during the first year of project-specific assessment approach implementation, project-specific assessment approach proposals (with respect to the Secretariat) and accompanying funding proposals (with respect to the Secretariat and the independent Technical Advisory Panel) from (i) subnational, national and regional entities based in developing countries, particularly those from developing countries that have yet to have an approved GCF-funded activity at the time of the launch of the project-specific assessment approach; and (ii) entities responding to requests for proposal issued by GCF.¹ After the first year, unless otherwise decided by the Board, the approach for the review of project-specific assessment approach proposals shall default to a first-come-first-complete basis;
9. Approves an additional budget of USD 600,000 under the administrative budget of the Secretariat to be executed during the years 2022 and 2023, including for the procurement of the external consultants and/or consulting firms mentioned in paragraph (g), to cover the assessments of approximately 10 funding proposals submitted by entities under the project-specific assessment approach and the related legal arrangements for those project-specific assessment approach entities and related funding proposals approved by the Board;
10. Decides that entities with funding proposals approved within the scope of the project-specific assessment approach set out in paragraph (g) above shall be deemed accredited for the purposes of such approved funding proposals only;
11. Also decides that the Project Preparation Facility can also support project and programme preparation requests from entities not yet accredited to GCF, in particular subnational, national and regional entities, which have submitted a complete application for the project-specific assessment approach detailed in paragraph (g) above, and that the provisions of decision B.13/21 shall apply mutatis mutandis to such entities;
12. Requests the Secretariat to report to the Board on an annual basis on the operationalization and implementation of the approach referred to in paragraph (g) above, and decides to review the pilot framework for the project-specific assessment approach referred to in paragraph (g) above three years after its operationalization;
13. Decides to launch the process to review the accreditation framework in accordance with decision B.27/06, which, inter alia, mandates the Board to present a revised accreditation framework to address matters outlined in paragraph 26 (a)(i)–(v) of annex VI to that decision;
14. Requests the Secretariat, pursuant to the updated Strategic Plan for the GCF 2020–2023 adopted in decision B.27/06, to present an analysis of the accredited entity portfolio to identify strengths and gaps in coverage and capabilities no later than the thirty-second meeting of the Board;
15. Decides to develop a strategy on accreditation, as recommended by the Independent Evaluation Unit, that clarifies the role of accreditation in the GCF, building on the strategic approach to accreditation as outlined in the updated Strategic Plan for the GCF 2020–2023. In particular, the accreditation strategy should focus on:
    
    1. Improving the efficiency of the accreditation process, including the consideration of portfolio targets, performance indicators and milestones;
    2. Seeking to increase the share of direct access entities above the initial resource mobilization level, including by prioritizing accreditation of and capacity support for direct access entities of countries which do not yet have a national or regional direct access accredited entity, including by promoting the participation and accreditation of micro, small and medium-sized enterprises in GCF activities in all developing countries, including least developed countries, small island developing States and African States;
    3. Incentivizing capacity-building and alignment with the GCF mandate within the accreditation function and further strengthening the Accreditation Panel;
    4. Improving monitoring and reporting by accredited entities in terms of performance, results and alignment with the GCF mandate;
    5. Informing re-accreditation decisions with (i) an examination of accredited entities’ performance in contributing to GCF programming results, considering international access entities’ contribution to building capacities of direct access entities; and (ii) an assessment of the extent to which accredited entities’ overall portfolio of activities beyond those funded by GCF has evolved towards low-emission and climate-resilient development pathways;
    6. Ensuring that the re-accreditation assessments of accredited entities’ portfolios are based on clear, transparent and predictable criteria that are communicated to applicants;
    7. Providing guidance to international access entities to support the building of capacities of direct access entities;
    8. Improving the accreditation component of the GCF’s request for proposal modality; and
    9. Enhancing the provision of pre-accreditation and post-accreditation support, in particular for direct access entities, to strengthen capacity-building for candidate entities; and
16. Requests the Secretariat, under the guidance of the Co-Chairs, to prepare the accreditation strategy in an open, inclusive and transparent manner in accordance with the relevant provisions of decision B.23/03, including engaging in consultations with the Board, accredited entities, observers and national designated authorities, for consideration by the Board no later than its thirty-third meeting.

¹ The requests for proposal may include those for the pilot phase for enhancing direct access (decision B.10/04), the pilot programme to support micro, small, and medium-sized enterprises (decision B.10/11), and the pilot programme to mobilize funds at scale in order to address adaptation and mitigation (decision B.16/03).

The Board, having considered document GCF/B.31/02/Rev.01 titled “Consideration of funding proposals”:

1. Takes note of the following funding proposals:
   1. Funding proposal 182 titled “Climate-smart initiatives for climate change adaptation and sustainability in prioritized agricultural production systems in Colombia (CSICAP)” by the Corporación Andina de Fomento, as contained in document GCF/B.31/02/Add.01 and 06; and
   2. Funding proposal 183 titled “Inclusive Green Financing Initiative (IGREENFIN I): Greening Agricultural Banks & the Financial Sector to Foster Climate Resilient, Low Emission Smallholder Agriculture in the Great Green Wall (GGW) countries -Phase I" by the International Fund for Agricultural Development, as contained in document GCF/B.31/02/Add.02 and 06;
2. Approves funding proposal 182 for the amount of USD 73,283,080, submitted by the Corporación Andina de Fomento, subject to the conditions set out in annex V and in the respective term sheet set out in document GCF/B.31/02/Add.06;
3. Also approves funding proposal 183for the amount of EUR 104,415,189, submitted by the International Fund for Agricultural Development, subject to the conditions set out in annex V and in the respective term sheet set out in document GCF/B.31/02/Add.06;
4. 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 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
5. 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.31/03 titled “Status of approved funding proposals: Extension of deadline in respect of SAP016 (Fiji Agrophotovoltaic Project in Ovalau)”:

Decides to extend the deadline until 28 September 2022 for the execution of the funded activity agreement for the following approved funding proposal:

1. SAP016, titled “Fiji Agrophotovoltaic Project in Ovalau”.

The Board, having considered limited distribution document GCF/B.31/04 titled “Status of approved funding proposals: Extension of deadline in respect of FP150 (Promoting private sector investment through large scale adoption of energy saving technologies and equipment for Textile and Readymade Garment (RMG) sectors of Bangladesh)”:

Decides to extend the deadline until 28 September 2022 for the execution of the funded activity agreement, in a form and substance satisfactory to the Secretariat, for the following approved funding proposal:

1. FP150, titled “Promoting private sector investment through large scale adoption of energy saving technologies and equipment for Textile and Readymade Garment (RMG) sectors of Bangladesh”.

The Board, having considered limited distribution document GCF/B.31/05/Rev.01 titled “Status of approved funding proposals: Extension of deadline in respect of FP153 (Mongolian Green Finance Corporation)”:

Decides to extend the deadline until 120 days following the effectiveness of the accredited entity’s amended accreditation master agreement 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 limited distribution document GCF/B.31/06 titled “Status of approved funding proposals: Extension of deadline in respect of FP154 (Mongolia: Aimags and Soums Green Regional Development Investment Program (ASDIP))”:

Decides to extend the deadline until 28 September 2022 for the 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. FP154, titled “Mongolia: Aimagsand Soums Green Regional Development Investment Program (ASDIP)”.

The Board, having considered document GCF/B.31/07 titled “Consideration of accreditation proposals”:

1. Takes note with appreciation of the assessments conducted by the Secretariat and the AccreditationPanel contained within the relevant annexes for the following applicant for accreditation:
   1. Applicant115 (APL115) is the Jamaica Social Investment Fund (JSIF), based in Jamaica, as contained in annex VI 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 accreditation master agreement, in accordance with decision B.24/13;
2. Approves the accreditation of applicant APL115, the Jamaica Social Investment Fund (JSIF), based in Jamaica, as contained in annex VI to this document;
3. 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 R001 (RAPL001) is the Centre de Suivi Ecologique (CSE), based in Senegal, as contained in annex VII to this document;
   2. Applicant R002 (RAPL002) is the Peruvian Trust Fund for National Parks and Protected Areas (PROFONANPE), based in Peru, as contained in annex VIII to this document; and
   3. Applicant R004 (RAPL004) is the Acumen Fund, Inc. (Acumen), based in the United States of America, as contained in annex IX 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 original accreditation master agreement, in accordance with decision B.24/13;
4. Approves the re-accreditation of applicant RAPL001, Centre de Suivi Ecologique (CSE), based in Senegal, as contained in annex VII to this document;
5. Also approves the re-accreditation of applicant RAPL002, the Peruvian Trust Fund for National Parks and Protected Areas (PROFONANPE), based in Peru, as contained in the annex VIII to this document;
6. Further approves the re-accreditation and upgrade of applicant RAPL004, the Acumen Fund, Inc. (Acumen), based in the United States of America, as contained in annex IX to this document; and
7. Takes note of the efforts of the Development Bank of South Africa to advance the purpose of the GCF including through the Development Bank of South Africa Board’s Just Transition Investment Framework and related statements in the context of the United Nations Framework Convention on Climate Change and the Paris Agreement; and
8. Approves the re-accreditation of applicant R024 (RAPL024), the Development Bank of Southern Africa (DBSA), based in South Africa, as contained in annex IV to document GCF/B.30/03.

The Board, have considered the Independent Evaluation Units adaptation portfolio and approach of the Green Climate Fund undertaken, as well as relevant elements of the Independent Evaluations:

1. Takes note of the Independent evaluation of the adaptation portfolio and approach of the Green Climate Fund undertaken by the Independent Evaluation Unit, completed in accordance withthe Board approved work plan of the IEU;
2. Also notes the Secretariat’s management response to the Evaluation as presented in document GCF/B.30/13/Add.01;
3. Requests the IEU to present a management action report to the Board no later than one-year following the adoption of this decision;
4. Agrees to urgently clarify the GCF’s role in and vision for climate adaptation, inter alia, by requesting the Secretariat to update the draft paper on ‘Guidance on the approach and scope for providing support to adaptation activities’ for consideration by the Board at B.32, by incorporating the findings and recommendations of the evaluation and the views expressed by Board and alternate members at B.31.

The Board, having considered document GCF/B.31/10 titled “Dates and venues of upcoming meetings of the Board”:

1. Agrees and confirms that the thirty-second meeting of the Board will take place from Monday, 16 May 2022 to Thursday, 19 May 2022 in Antigua and Barbuda, noting that the first two days will be sessions for policy consultations;
2. Also agrees that the thirty-third meeting of the Board will take place from Monday, 27 June 2022 to Thursday, 30 June 2022 as an in-person meeting in the Republic of Korea;
3. Takes note that the Board agreed, in decision B.30/12, that the thirty-fourth meeting of the Board was set for Monday, 24 October to Thursday, 27 October 2022, subject to confirmation by the Board in accordance with paragraph 17 of the Rules of Procedure; and
4. Requests the Co-Chairs to continue to monitor the impact of the coronavirus disease 19 (COVID-19) pandemic on the operations of GCF, and to report to the Board appropriately.

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.