Boardroom

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.

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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