Boardroom

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

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

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

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

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

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

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

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

The Board, having considered document GCF/B.27/02/Rev.03 titled “Consideration of funding proposals”:

1. Takes note of the following funding proposals:
   1. Funding proposal 141 titled “Improving Adaptive Capacity and Risk Management of Rural communities in Mongolia”, by the United Nations Development Programme, as contained in document GCF/B.27/02/Add.01 and Add.24/Rev.01;
   2. Funding proposal 142 titled “Argentina REDD-plus RBP for results period 2014- 2016”, by the Food and Agriculture Organization of the United Nations, as contained in document GCF/B.27/02/Add.02 and Add.24/Rev.01;
   3. Funding proposal 143 titled “Planting Climate Resilience in Rural Communities of the Northeast (PCRP)", by the International Fund for Agricultural Development, as contained in document GCF/B.27/02/Add.03 and Add.24/Rev.01;
   4. Funding proposal 144 titled “Costa Rica REDD-plus Results-Based Payments for 2014 and 2015", by the United Nations Development Programme, as contained in document GCF/B.27/02/Add.04 and Add.24/Rev.01;
   5. Funding proposal 145 titled “RELIVE – REsilient LIVElihoods of vulnerable smallholder farmers in the Mayan landscapes and the Dry Corridor of Guatemala”, by the Food and Agriculture Organization of the United Nations, as contained in document GCF/B.27/02/Add.05 and Add.24/Rev.01;
   6. Funding proposal 146 titled “Bio-CLIMA: Integrated climate action to reduce deforestation and strengthen resilience in BOSAWÁS and Rio San Juan Biospheres”, by the Central American Bank for Economic Integration, as contained in document GCF/B.27/02/Add.06/Rev.01 and Add.24/Rev.01;
   7. Funding proposal 147 titled “Enhancing Climate Information and Knowledge Services for resilience in 5 island countries of the Pacific Ocean”, by the United Nations Environment Programme, as contained in document GCF/B.27/02/Add.07 and Add.24/Rev.01;
   8. Funding proposal 148 titled “Participation in Energy Access Relief Facility ("EARF")”, by Acumen Fund, Inc., as contained in document GCF/B.27/02/Add.17;
   9. Funding proposal 149 titled “Green Climate Financing Facility for Local Financial Institutions in Latin-America”, by the Corporación Andina de Fomento, as contained in document GCF/B.27/02/Add.18;
   10. Funding proposal 150 titled “Promoting private sector investment through large scale adoption of energy saving technologies and equipment for Textile and Readymade Garment (RMG) sectors of Bangladesh”, by the Infrastructure Development Company Limited, as contained in document GCF/B.27/02/Add.19/Rev.01;
   11. Funding proposal 151 titled “Technical Assistance (TA) Facility for the Global Subnational Climate Fund”, by the International Union for Conservation of Nature, as contained in document GCF/B.27/02/Add.20, and funding proposal 152 titled “Global Subnational Climate Fund (SnCF Global) - Equity”, by Pegasus Capital Advisors, as contained in document GCF/B.27/02/Add.21;
   12. Funding proposal 153 titled “Mongolian Green Finance Corporation”, by XacBank LLC, as contained in document GCF/B.27/02/Add.22;
   13. Simplified approval process (SAP) funding proposal 017 titled “Climate proofing food production investments in Imbo and Moso basins in the Republic of Burundi”, by the International Fund for Agricultural Development, as contained in document GCF/B.27/02/Add.14 and Add.24/Rev.01;
   14. Simplified approval process (SAP) funding proposal 018 titled “Enhancing Climate Information Systems for Resilient Development in Liberia (Liberia CIS)”, by the African Development Bank, as contained in document GCF/B.27/02/Add.15 and 24/Rev.01; and
   15. Simplified approval process (SAP) funding proposal 019 titled “Gums for Adaptation and Mitigation in Sudan (GAMS): Enhancing adaptive capacity of local communities and restoring carbon sink potential of the Gum Arabic belt, expanding Africa’s Great Green Wall”, by the Food and Agriculture Organization of the United Nations, as contained in document GCF/B.27/02/Add.16 and 24/Rev.01
2. Approves funding proposal 141 for the amount of USD 23,101,276, submitted by the United Nations Development Programme, subject to the conditions set out in annex I and in the respective term sheet set out in document GCF/B.27/02/Add.24/Rev.01;
3. Also approves funding proposal 142 for the amount of USD 82,000,000, submitted by the Food and Agriculture Organization of the United Nations, subject to the conditions set out in annex I and in the respective term sheet set out in document GCF/B.27/02/Add.24/Rev.01;
4. Further approves funding proposal 143 for the amount of USD 99,500,000, submitted by the International Fund for Agricultural Development, subject to the conditions set out in annex I and in the respective term sheet set out in document GCF/B.27/02/Add.24/Rev.01;
5.  Approves funding proposal 144 for the amount of USD 54,119,143, submitted by the United Nations Development Programme, subject to the conditions set out in annex I and in the respective term sheet set out in document GCF/B.27/02/Add.24/Rev.01;
6. Also approves funding proposal 145 for the amount of USD 29,837,169, submitted by the Food and Agriculture Organization of the United Nations, subject to the conditions set out in annex I and in the respective term sheet set out in document GCF/B.27/02/Add.24/Rev.01;
7.  Further approves, pursuant to a vote in which 22 of the Board members present voted in favour and 1 of the Board members present voted against, and in respect of which 1 of the Board members present abstained from the vote, funding proposal 146 for the amount of USD 64,094,029, 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.27/02/Add.24/Rev.01 
8.  Approves funding proposal 147 for the amount of USD 47,403,174, 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.27/02/Add.24/Rev.01;
9. Also approves funding proposal 148 for the amount of USD 30,000,000, submitted by Acumen Fund, Inc., subject to the conditions set out in annex I and in the respective term sheet set out in document GCF/B.27/02/Add.17;
10. Further approves funding proposal 149 for the amount of USD 100,000,000, submitted by the 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.27/02/Add.18;
11. Approves funding proposal 150 for the amount of USD 256,480,000, submitted by Infrastructure Development Company Limited, subject to the conditions set out in annex I and in the respective term sheet set out in document GCF/B.27/02/Add.19/Rev.01;
12. Also approves funding proposal 151 for the amount of USD 18,500,000, submitted by the International Union for Conservation of Nature, and funding proposal 152 for the amount of USD 150,000,000, 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.27/02/Add.20 and Add.21;
13. Further approves funding proposal 153 for the amount of USD 26,654,103, submitted by XacBank LLC, subject to the conditions set out in annex I and in the respective term sheet set out in document GCF/B.27/02/Add.22;
14. Approves, pursuant to a vote in which 22 of the Board members present voted in favour and 1 of the Board members present voted against, and in respect of which 1 of the Board members present abstained from the vote, simplified approval process (SAP) funding proposal 017 for the amount of USD 9,994,500, submitted by the International Fund for Agricultural Development, subject to the conditions set out in annex I and in the respective term sheet set out in document GCF/B.27/02/Add.24/Rev.01;
15.  Also approves simplified approval process (SAP) funding proposal 018 for the amount of USD 10,000,000, 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.27/02/Add.24/Rev.01;
16. Further approves, pursuant to a vote in which 23 of the Board members present voted in favour and 1 of the Board members present voted against, and in respect of which none of the Board members present abstained from the vote, simplified approval process (SAP) funding proposal 019 for the amount of USD 9,975,000, submitted by the Food and Agriculture Organization of the United Nations, subject to the conditions set out in annex I and in the respective term sheet set out in document GCF/B.27/02/Add.24/Rev.01;
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 the limited distribution document GCF/B.27/05 titled “Status of approved funding proposals: Extension of deadline in respect of FP027 (Universal Green Energy Access Programme)”:

Decides to extend the deadline until 13 March 2021 for the submission by the accredited entity of a certificate or legal opinion, in form and substance satisfactory to the Secretariat, confirming that the accredited entity has obtained all final internal approvals needed by it and has the capacity and authority to implement the proposed programme for the following approved funding proposal:

1. FP027, titled “Universal Green Energy Access Programme”

The Board, having considered limited distribution document GCF/B.27/20 titled “Status of approved funding proposals: extension of deadline in respect of FP116 (Carbon Sequestration through Climate Investment in Forests and Rangelands in Kyrgyz Republic (CS-FOR)):

Decides to extend the deadline until 7 May 2021 for the execution of the funded activity agreement, in a form and substance satisfactory to the Secretariat, for the following approved funding proposal:

1. FP116, titled “Carbon Sequestration through Climate Investment in Forests and Rangelands in Kyrgyz Republic (CS-FOR)”

    

The Board, having reviewed the limited distribution document GCF/B.27/07 titled “Status of approved funding proposals: adding new countries to FP099 (Climate Investor One (FMO))”:

1. Takes note of the seven new no-objection letters for FP099 submitted by the national designated authorities for the relevant countries;
2. Approves the inclusion of Ecuador, Ethiopia, Mauritius, the Philippines, Senegal, Tunisia and Zambia as GCF mandate countries for FP099; and
3. Authorizes the Secretariat to take such steps as might be necessary pursuant to the funded activity agreement for FP099 to give effect to this decision.

The Board, having considered document GCF/B.27/03 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:
   1. Applicant 102 (APL102) is Kemitraan bagi Pembaruan Tata Pemerintahan (Partnership for Governance Reform) (Kemitraan), based in Indonesia, as contained in annex II;
   2. Applicant 103 (APL103) is the National Trust for Nature Conservation (NTNC), based in Nepal, as contained in annex III;
   3. Applicant 104 (APL104) is KCB Bank Kenya Limited (KCB), based in Kenya, as contained in annex IV; and
   4. Applicant 105 (APL105) is Camco Management Limited (Camco), based in the United Kingdom of Great Britain and Northern Ireland, as contained in annex V; and

2. Approves the accreditation of applicants APL102, APL103, APL104 and APL105, 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.23/11

The Board, having considered document GCF/B.27/21 titled “Updated Strategic Plan for the Green Climate Fund: 2020-2023”:

1. Endorses the updated Strategic Plan for the Green Climate Fund: 2020-2023, which is a living document, as set out in annex VI as the updated GCF Strategic Plan to guide the Board in addressing policy gaps and programming the GCF resources of the first replenishment period between 2020 and 2023 and to invest the GCF resources in paradigm-shifting climate actions in a country-driven manner;
2. Recalls the outcomes of the initial resource mobilization period;
3. Requests the Secretariat, under the Co-Chairs’ guidance, to update the Board’s workplan for 2020-2023 to reflect the updated Strategic Plan’s objectives and priorities, and to present it to the Board at the first meeting of 2021;
4. Reaffirms that the implementation of the updated Strategic Plan will be guided by the Governing Instrument for the GCF, including the objectives and guiding principles laid out therein;
5. Notes that the updated Strategic Plan will guide the Board’s deliberations on issues mandated in its four-year workplan, and to support developing countries in translating their nationally determined contributions, adaptation communications, national adaptation plans and long-term national strategies into investment strategies and project pipelines informed by the goals in the Paris Agreement, without prejudice to the outcomes of the Board deliberations;
6. Recalls decision B.12/20, including paragraph (h), and decision B.13/10, paragraph (e), and confirms that GCF, as an operating entity of the Financial Mechanism of the Convention, serves the Paris Agreement;
7. Requests the committees, panels and groups of the Board to include the relevant actions outlined in the updated Strategic Plan in their respective deliberations and work programmes, as appropriate, throughout the first replenishment period;
8. Agrees that the resource allocation parameters for the GCF first replenishment programming period, for mitigation, adaptation and the private sector, will continue to be based on decision B.05/05;
9. Further agrees that the GCF first replenishment programming period will strive to achieve greater impact for developing countries compared with the initial resource mobilization period, while strengthening country ownership and capacity to identify, design and implement projects and programmes, and in this regard agrees the following parameters and guidelines for the allocation of resources during the GCF first replenishment period
   1. Maintaining the 50:50 balance of adaptation and mitigation funding over time while seeking to deliver portfolio-level mitigation and adaptation outcomes that exceed average initial resource mobilization outcomes;
   2. Maintaining a minimum allocation floor of fifty per cent of adaptation funding, to be provided to developing countries that are particularly vulnerable to the adverse effects of climate change, including small island developing States, least developed countries and African States, taking into account their urgent and immediate needs, while aiming to build on initial resource mobilization outcomes. The Board will aim for appropriate geographical balance;
   3. Supporting developing countries mitigation activities that contribute to respond to the urgency of action to hold the increase in global average temperature to well below 2°C and pursue efforts to limit it to 1.5°C;
   4. Significantly increase funding channelled through direct access entities relative to the initial resource mobilization;
   5. Maximize engagement with the private sector, including micro, small and mediumsized enterprises, ensuring the allocation to the Private Sector Facility exceeds 20 per cent; and
   6. Significantly increase mobilized private sector finance at the portfolio level relative to the initial resource mobilization;
10. Reaffirms that allocation parameters should be determined in grant equivalents;
11. Requests the Secretariat to update the allocation parameters and portfolio targets under the GCF initial investment framework to reflect GCF first replenishment allocation parameters and portfolio targets as set out in paragraph (i) of this decision, in line with decision B.07/06, paragraph (e);
12.  Aims to programme 40 per cent of available resources by the midpoint of the GCF first replenishment and 95 per cent by end 2023;
13. Requests the Secretariat to report on progress on the updated Strategic Plan at the first Board meeting of each year from 2021;
14. Encourages the Secretariat to enhance efforts to improve speed, predictability, access, impact, quality, efficiency, effectiveness and transparency;
15.  Also encourages contributing countries to confirm their pledges to GCF in the form of fully executed contribution agreements/arrangements as soon as possible; and
16. Decides to review the GCF Strategic Plan ahead of each replenishment process with a view to revising the strategic vision, if and as needed, and to update the strategic objectives and priorities for the coming replenishment cycle, taking into account evolving priorities, including guidance from the Conference of the Parties, the Conference of the Parties serving as the meeting of the Parties to the Paris Agreement, and relevant reports from the Independent Evaluation Unit.

The Board, having considered document GCF/B.27/04 titled “2021 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 2021;
2. Approves the 2021 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. Also approves the administrative budget for the Secretariat found in table 6 in annex II of document GCF/B.27/04 for the period 1 January 2021 to 31 December 2021 in the amount of USD 75,018,024, which includes 26,500,295 in new funding, as well as the USD 48,517,729 for 2021 staff salaries and emoluments that was approved by the Board in decision B.21/09;
4. Recognizes that the new funding of USD 26,500,295 includes a contingency budget of USD 1,500,545
5. Requests the Executive Director to consult with the Budget Committee on the allocation of the contingency budget;
6. Approves USD 55,889,131 for projected staff salaries and emoluments for 2023;
7. Also approves a budget for the Board in the amount of USD 4,756,436 as found in table 5 in annex II of document GCF/B.27/04; 
8. Further approves a budget for the Trustee in the amount of USD 3,756,000 as included in table 19 in annex II of document GCF/B.27/04; and
9.  Requests the Secretariat to present a comprehensive financial plan to manage the commitment authority for the entire GCF first replenishment programming period for consideration by the Board at its twenty-ninth meeting

The Board, having considered document GCF/B.27/11 titled “Independent Evaluation Unit 2021 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 2021 for an amount of USD 5,912,573 as contained in annex VII to this document;
2. Agrees to further consider the matters, including written comments in accordance with paragraph 23 of Rules of Procedure of the Board, raised by Board members in the consideration of this matter;
3. Urges the Independent Evaluation Unit, in accordance with decision B.24/15, to present the Evaluation Policy and the detailed procedures and guidelines for the effective operation of the Independent Evaluation Unit, for consideration and approval by the Board at its twenty-eighth meeting;
4. Requests the Budget Committee to review the budget execution during 2021 and acknowledges that the Independent Evaluation Unit may present to the Board for consideration at its twenty-ninth meeting an additional budgetary request to execute its workplan for 2021; and
5. Further requests the Independent Evaluation Unit, in consultation with the Budget Committee, to prepare a multi-year budget and schedule for the second performance review of the GCF for consideration by the Board at its twenty-eighth meeting

    

The Board, having considered document GCF/B.27/08 titled “Work Programme and Budget of the Independent Integrity Unit for 2021”:

1. Approves the Work Programme and Budget of the Independent Integrity Unit for 2021 as contained in annexes VIII and IX to this document, respectively (total budgeted amount of USD 2,796,393); and
2. Requests the Budget Committee and the Ethics and Audit Committee to review the budget execution during 2021 and acknowledges that the Independent Integrity Unit may present to the Board, for its consideration at its twenty-ninth meeting, an additional budgetary request to execute its Work Programme for 2021.

    

The Board, having considered document GCF/B.27/09 titled “Independent Redress Mechanism Work Plan and Budget for 2021”:

Approves the work plan and budget of the Independent Redress Mechanism for 2021 as contained in annex II and III, respectively, to document GCF/B.27/09 (total budgeted amount of USD 1,395,471).

The Board, having considered limited distribution document GCF/B.27/15 titled “Appointment of the interim Head of the Independent Evaluation Unit”:

1. Takes note of the resignation of Ms. Jyotsna Puri as Head of the Independent Evaluation Unit effective from 8 November 2020;
2. Appoints Mr. Andreas Reumann as Head of the Independent Evaluation Unit ad interim effective from the date on which the relevant contractual arrangements have been concluded;
3. Authorizes the Co-Chairs to agree, on behalf of the Board, on arrangements, as appropriate, with the Head of the Independent Evaluation Unit ad interim, including but not limited to:
   1. A performance agreement that will specify the outcome and performance expected for the duration of role;
4. Decides that the Head of the Independent Evaluation Unit ad interim shall assume the functions, and have the mandate, of the Head of the Independent Evaluation Unit as provided for in relevant Board decisions; and
5. Further decides that the Head of the Independent Evaluation Unit ad interim will not be precluded from applying for the Head of the Independent Evaluation Unit position.

    

The Board, having considered the document GCF/BM-2020/19 titled “Election of Co- Chairs of the Board for 2021”:

Elects Ms. Brenda Ciuk and Mr. Jean-Christophe Donnellier as the Co-Chairs of the Board for a term of one year starting on 1 January 2021, in accordance with paragraph 13 of the Governing Instrument and, paragraph 7 of the Rules of Procedure of the Board.

The Board, having considered document GCF/BM-2020/17 titled “Appointment of Additional Experts of the Independent Technical Advisory Panel”:

Endorses the nomination by the Investment Committee of the following experts of the independent Technical Advisory Panel (the Panel) for one term:

1. Andreas Biermann (Male, Germany; area of expertise: energy and climate finance);
2. Caroline Petersen (Female, South Africa; area of expertise: ecosystems);
3. Ricardo Nogueira (Male, United States of America; area of expertise: private sector finance); and
4. Rey Guarin (Male, Philippines, key expertise: climate change projects in developing countries, multiple sectors).

    

The Board, having reviewed document GCF/BM-2020/14 titled “Appointment of External Auditors”:

Approves the appointment of Nexia Samduk as the External Auditor of the Fund for a three-year period beginning with the audit of the 2020 financial statements.

The Board, having considered limited distribution document GCF/BM-2020/15 titled “Performance review and appointment of members of the Accreditation Panel”:

1. Takes note of the detailed report on the performance review of each member of the Accreditation Panel prepared by the independent consultant pursuant to decision BM-2020/01 and in line with decision B.BM-2017/03, paragraph (e), as set out in annex II to document GCF/BM-2017/09;
2. Considers that the performance of each member of the Accreditation Panel during the current term of their membership has been satisfactory;
3. Decides to re-appoint the following members of the Accreditation Panel for another consecutive term, starting on 1 May 2021, and expiring on 30 April 2024:
   1. Mr. Mark Alloway (United Kingdom of Great Britain and Northern Ireland; expertise area: fiduciary); and
   2. Mr. Yogesh Vyas (United States of America; expertise area: ESS and gender), for a second term to the AP; and
4. Endorses the nomination by the Accreditation Committee of the following experts to the Accreditation Panel for one term starting on 1 May 2021, and expiring on 30 April 2024:
   1. Mr. Vikesh Mirani (India; expertise area: fiduciary);
   2. Mr. Ben Boxer (United Kingdom of Great Britain and Northern Ireland; expertise area: fiduciary);
   3. Ms. Binny Prabhakar (United Kingdom of Great Britain and Northern Ireland and India; expertise area: ESS and gender); and
   4. Ms. Natalie Unterstell (Brazil; expertise area: fiduciary, ESS and gender.

The Board, having considered the document GCF/BM-2020/13 titled “Appointment of members of the Ethics and Audit Committee”:

Appoints as member of the Ethics and Audit Committee:

1. Ms. Niamh McGuire, replacing Mr. Stefan Marco Schwager.

The Board, having considered limited distribution document GCF/B.26/04 titled “Status of approved funding proposals: extension of deadline in respect of FP114 (Program on Affirmative Finance Action for Women in Africa (AFAWA): Financing Climate Resilient Agricultural Practices in Ghana)

Decides to extend the deadline until 19 December 2020 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 project for the following approved funding proposal:

1. FP114, titled “Program on Affirmative Finance Action for Women in Africa (AFAWA): Financing Climate Resilient Agricultural Practices in Ghana”.

The Board, having considered document GCF/B.26/03 titled “Consideration of accreditation proposals, including consideration of the reaccreditation deadline”:

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 099 (APL099) is La Banque Agricole (LBA) based in Senegal, as contained in annex II;
   2. Applicant 100 (APL100) is the Sumitomo Mitsui Banking Corporation (SMBC) based in Japan, as contained in annex IV to document GCF/B.26/03; and
   3. Applicant 101 (APL101) is the United Nations Industrial Development Organization (UNIDO) based in Austria, as contained in annex III;
2. Approves the accreditation of applicants APL099 and APL101, 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.23/11;
3. Decides, at the request of APL100, to defer the consideration of APL100, as contained in annex IV to document GCF/B.26/03, until no later than the twenty-eighth meeting of the Board;
4. Takes note with appreciation of the assessment conducted by the Secretariat and the Accreditation Panel contained within the relevant annex for the following applicant seeking to upgrade its accreditation type:
   1. Pegasus Capital Advisors, L.P. (PCA) based in the United States of America, as contained in annex IV;
5. Agrees to upgrade the accreditation type of the Pegasus Capital Advisors, L.P. as contained in decision B.21/16, paragraph (b), subject to, and in accordance with, the assessment by the Accreditation Panel contained in annex IV;
6. 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;
7. 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;
8. Also decides, pursuant to decision B.24/13, paragraph (a), and on an extraordinary basis due to the COVID-19 virus pandemic, that the Secretariat may issue a one-time extension for a period of six months to the deadline for submission of a re-accreditation application, subject to a justified request from the accredited entities to GCF;
9. Agrees that, during the extended period referenced in paragraph (h) above, the accredited entity shall not be able to submit any new funding proposals or Project Preparation Facility requests to GCF for consideration. The accredited entity may, through the relevant national designated authority(ies), seek support through the Readiness and Preparatory Support Programme; and
10. Decides that the Secretariat may still issue the extension established in paragraph 18 of annex XXVI to decision B.24/13 should GCF require additional time for review and consideration of re-accrediting an accredited entity.

The Board, having considered document GCF/B.26/02/Rev.02 titled “Consideration of funding proposals”:

1. Takes note of the following funding proposals:
   1. Funding proposal 129 titled “Afghanistan Rural Energy Market Transformation Initiative – Strengthening Resilience of Livelihoods Through Sustainable Energy Access”, by the United Nations Development Programme, as contained in document GCF/B.26/02/Add.01 and Add.19;
   2. Funding proposal 130 titled “Indonesia REDD-plus RBP for results period 2014-2016”, by the United Nations Development Programme, as contained in document GCF/B.26/02/Add.02 and Add.19;
   3. Funding proposal 131 titled “Improving Climate Resilience of Vulnerable Communities and Ecosystems in the Gandaki River Basin, Nepal”, by the International Union for Conservation of Nature, as contained in document GCF/B.26/02/Add.03 and Add.19;
   4. Funding proposal 132 titled “Enabling Implementation of Forest Sector Reform in Georgia to Reduce GHG Emissions from Forest Degradation”, by the Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH, as contained in document GCF/B.26/02/Add.04 and Add.19;
   5. Funding proposal 133 titled “Resilience to hurricanes in the building sector in Antigua and Barbuda”, by the Department of Environment, Ministry of Health and Environment of Antigua and Barbuda, as contained in document GCF/B.26/02/Add.05 and Add.19;
   6. Funding proposal 134 titled “Colombia REDD+ Results-based Payments for results period 2015-2016”, by the Food and Agriculture Organization of the United Nations, as contained in document GCF/B.26/02/Add.06 and Add.19;
   7. Funding proposal 135 titled “Ecosystem-based Adaptation in the Indian Ocean – EBA IO”, by the Agence Française de Développement, as contained in document GCF/B.26/02/Add.07 and Add.19;
   8. Funding proposal 136 titled “Resilient Landscapes and Livelihoods Project”, by the World Bank, as contained in document GCF/B.26/02/Add.08 and Add.19;
   9. Funding proposal 137 titled “Ghana Shea Landscape Emission Reductions Project”, by the United Nations Development Programme, as contained in document GCF/B.26/02/Add.09 and Add.19;
   10. Funding proposal 138 titled “ASER Solar Rural Electrification Project”, by the Banque Ouest Africaine de Développement, as contained in document GCF/B.26/02/Add.10 and Add.19;
   11. Funding proposal 139 titled “Building resilience in the face of climate change within traditional rain fed agricultural and pastoral systems in Sudan”, by the United Nations Development Programme, as contained in document GCF/B.26/02/Add.11 and Add.19;
   12. Funding proposal 140 titled “High Impact Programme for the Corporate Sector”, by the European Bank for Reconstruction and Development, as contained in document GCF/B.26/02/Add.12 and Add.16;
   13. Simplified approval process (SAP) funding proposal 014 titled “Forest resilience of Armenia, enhancing adaptation and rural green growth via mitigation”, by the Food and Agriculture Organization of the United Nations, as contained in document GCF/B.26/02/Add.13 and Add.19;
   14. Simplified approval process (SAP) funding proposal 015 titled “Promoting zero-deforestation cocoa production for reducing emissions in Côte d’Ivoire (PROMIRE)”, by the Food and Agriculture Organization of the United Nations, as contained in document GCF/B.26/02/Add.14 and Add.19; and
   15. Simplified approval process (SAP) funding proposal 016 titled “Fiji Agrophotovoltaic Project in Ovalau”, by the Fiji Development Bank, as contained in document GCF/B.26/02/Add.15 and Add.17; and
2. Approves funding proposal 129 for the amount of USD 17,198,843, submitted by the United Nations Development Programme, subject to the conditions set out in annex I and in the respective term sheet set out in document GCF/B.26/02/Add.19;
3. Also approves funding proposal 130 for the amount of USD 103,781,250, submitted by the United Nations Development Programme, subject to the conditions set out in annex I and in the respective term sheet set out in document GCF/B.26/02/Add.19;
4. Further approves funding proposal 131 for the amount of USD 27,404,139, submitted by the International Union for Conservation of Nature, subject to the conditions set out in annex I and in the respective term sheet set out in document GCF/B.26/02/Add.19;
5. Approves funding proposal 132 for the amount of EUR 32,791,621, submitted by the Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH, subject to the conditions set out in annex I and in the respective term sheet set out in document GCF/B.26/02/Add.19;
6. Also approves funding proposal 133 for the amount of USD 32,706,595, submitted by the Department of Environment, Ministry of Health and Environment of Antigua and Barbuda, subject to the conditions set out in annex I and in the respective term sheet set out in document GCF/B.26/02/Add.19;
7. Further approves funding proposal 134 for the amount of USD 28,208,123, submitted by the Food and Agriculture Organization of the United Nations, subject to the conditions set out in annex I and in the respective term sheet set out in document GCF/B.26/02/Add.19;
8. Takes note of the absence of an internationally agreed definition on high forest cover, low deforestation (HFLD) countries;
9. Also takes note of the recommendations by the independent Technical Advisory Panel and the Secretariat in relation to funding proposal 134 to consider the specific circumstances of Colombia as a high forest cover, low deforestation (HFLD) country for the purpose of the pilot programme for REDD-plus results-based payments;
10. Decides that the approval of the funding proposal 134 does not set a precedent for future proposals that may request payments from the GCF for REDD-plus results under the pilot programme nor prejudge any future decisions of the Board on the establishment or form of a future REDD-plus results-based payment programme;
11. Approves funding proposal 135 for the amount of USD 38,000,000, submitted by the Agence Française de Développement, subject to the conditions set out in annex I and in the respective term sheet set out in document GCF/B.26/02/Add.19;
12. Also approves funding proposal 136 for the amount of USD 165,237,592, 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.26/02/Add.19;
13. Further approves funding proposal 137 for the amount of USD 30,100,000, submitted by the United Nations Development Programme, subject to the conditions set out in annex I and in the respective term sheet set out in document GCF/B.26/02/Add.19;
14. Approves funding proposal 138 for the amount of EUR 75,445,176, 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.26/02/Add.19;
15. Also approves, pursuant to a vote in which 23 of the Board members present voted in favour and 1 of the Board members present voted against, and in respect of which none of the Board members present abstained from the vote, funding proposal 139 for the amount of USD 25,645,114, submitted by the United Nations Development Programme, subject to the conditions set out in annex I and in the respective term sheet set out in document GCF/B.26/02/Add.19;
16. Further approves funding proposal 140 for the amount of USD 258,030,000, submitted by the European Bank for Reconstruction and Development, subject to the conditions set out in annex I and in the respective term sheet set out in document GCF/B.26/02/Add.16;
17. Approves simplified approval process (SAP) funding proposal 014 for the amount of USD 10,000,000, submitted by the Food and Agriculture Organization of the United Nations, subject to the conditions set out in annex I and in the respective term sheet set out in document GCF/B.26/02/Add.19;
18. Also approves simplified approval process (SAP) funding proposal 015 for the amount of USD 10,000,000, submitted by the Food and Agriculture Organization of the United Nations, subject to the conditions set out in annex I and in the respective term sheet set out in document GCF/B.26/02/Add.19;
19. Further approves simplified approval process (SAP) funding proposal 016 for the amount of USD 5,000,000, submitted by the Fiji Development Bank, subject to the conditions set out in annex I and in the respective term sheet set out in document GCF/B.26/02/Add.17;
20. 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
21. 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.26/07 titled “Status of approved funding proposals: extension of deadline in respect of FP122 (Blue Action Fund (BAF): GCF Ecosystem Based Adaptation Programme in the Western Indian Ocean)”

Decides to extend the deadline until 13 November 2020 for the execution of the funded activity agreement, in a form and substance satisfactory to the Secretariat, for the following approved funding proposal:

1. FP122, titled “Blue Action Fund (“BAF”): GCF Ecosystem Based Adaptation Programme in the Western Indian Ocean”.

The Board, having considered document GCF/B.26/05 titled “Readiness and Preparatory Support Programme – work programme and budget 2020–2021”:

1. Reaffirms that the Readiness and Preparatory Support Programme is a strategic priority for GCF to enhance country ownership and access to GCF, and strengthen strategic programming during 2020–2023;
2. Recalls decision B.22/11, and reaffirms that the objectives and outcomes for the revised Readiness and Preparatory Support Programme in document GCF/B.22/08 remain for 2020–2021;
3. Adopts the proposed work programme for 2020–2021 as contained in annex VI;
4. Requests the Secretariat to ensure that readiness support for resilient recovery efforts is fully consistent with the existing mandates and decisions of the Board with respect to the Readiness and Preparatory Support Programme and follows a country-driven and country ownership principle;
5. Notes the estimated budget for the period 2020−2021 as included in the work programme for 2020–2021 contained in annex VI;
6. Approves an additional amount of USD 162.39 million to be made available for the execution of the Readiness and Preparatory Support Programme;
7. Requests the Secretariat to report on the implementation of the Readiness and Preparatory Support Programme at the second Board meeting of each year; and
8. Further requests the Secretariat to ensure full compliance with Board-approved integrity policies, standards and decisions in the Readiness Guidebook, Administrative Instruction and Standard Operating Procedures developed for the Readiness and Preparatory Support Programme, as well as other relevant enhanced Standard Operating Procedures or procedures bearing implications on the Readiness and Preparatory Support Programme.

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.