Boardroom

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 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 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 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.26/07 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, recalling decision B.23/18:

1. Recognizes the current extraordinary circumstances resulting from the outbreak of the COVID-19 virus;
2. Takes note that the Co-Chairs, guided by the best interests of the GCF pursuant to paragraph 10 of the Rules of Procedure of the Board, and on an exceptional basis and in light of such current extraordinary circumstances, decided to change the venue of the twenty-fifth meeting of the Board to Geneva, Switzerland;
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 light of the current extraordinary circumstances;
4. Ratifies the decision of the Co-Chairs to move the venue of the twenty-fifth meeting of the Board to Geneva, Switzerland; and
5. Welcomes with appreciation the decision of the Government of Switzerland and the Canton of Geneva to host the twenty-fifth meeting of the Board at short notice.

The Board, having considered the risks relating to the outbreak of the COVID-19 virus as well as the prevailing uncertainty and current extraordinary circumstances arising out of the COVID-19 virus outbreak:

1. Recognizes its duty to act in the best interests of the GCF and its duty of care towards staff, consultants and interns of the GCF;
2. Takes note of the measures which have been put in place by the Executive Director to protect the health and welfare of GCF staff, consultants and interns, including the option for staff, consultants and interns to work remotely under special flexible working arrangements;
3. Decides to ban all GCF-related events organized by the Secretariat effective Monday, 16 March 2020 for a period of 30 calendar days;
4. Also decides that the independent units shall take the same measures with respect to recall of their respective staff, consultants and interns; official travel; and organization of events, as well as other measures relating to the response to the COVID-19 virus outbreak as those taken by the Secretariat, and in the event that the head of the relevant independent unit wishes to deviate from the measures put in place by the Secretariat, such deviation shall require the approval of the Board;
5. Authorizes the Executive Director to explore options for hosting a core group of up to 35 Secretariat staff in partner organizations in the event that alternative working arrangements need to be put in place in response to the COVID-19 virus outbreak, without establishing a second formal country presence of the GCF, on the basis of the following criteria:
   1. The willingness or expression of interest of prospective partner organizations to host a core group of GCF personnel on a temporary basis in its network of offices;
   2. The existence of a bilateral agreement on privileges and immunities between the relevant countries in which the partner organization may offer office space to the GCF, or the ability of such prospective country to provide privileges and immunities to the GCF as are necessary for the fulfilment of its purposes and to the officials of the GCF as are necessary for the independent exercise of their official functions in connection with the GCF, on a temporary basis;
   3. The availability of adequate local facilities necessary to support the operations of the GCF and the core group of staff, including in relation to financial services; housing options; local and international transport facilities, taking into consideration any existing travel restrictions; and state-of-the-art teleconference and videoconference facilities;
   4. The willingness of the prospective partner organization(s) or countries to consider shared financial and administrative arrangements;
   5. The prevalence and ability of the relevant countries to respond promptly and effectively to the COVID-19 virus; and
   6. The diplomatic representations and the presence of other international organizations in the relevant countries;
6. Also authorizes the Executive Director to activate the alternative working arrangements referred to in paragraph (e) above, in the event it becomes necessary, to mitigate the impact of the spread of the COVID-19 virus on the achievement of the Secretariat’s key performance indicators, it being understood that while the alternative working arrangements may need to be put in place until the twenty-seventh meeting of the Board, such arrangements will only be used on an “as needed” basis and activated for the minimum amount of time necessary;
7. Approves a contingency budget in an amount equal to 2 per cent of the administrative budget of the Secretariat to cover costs relating to the activation of alternative working arrangements until the originally scheduled dates for the twenty-seventh meeting of the Board;
8. Requests the Executive Director to consult with the Budget Committee on how such contingency budget should be allocated to specific line items;
9. Decides that although reallocation between line items in the contingency budget is permitted, no reallocation from the contingency budget to the administrative budgets of the Secretariat and the independent units is permitted;
10. Requests the Executive Director to ensure that there is a standing delegation of authority to a competent official who can implement or activate the measures referred to in paragraphs (e) and (f) above in a prompt manner in the event that the Executive Director is unavailable to take a decision on such matters and an urgent decision is required;
11. Also requests the Executive Director and the Co-Chairs to hold regular discussions, as appropriate, in relation to any measures implemented pursuant to this decision;
12. Confirms that if the Executive Director, or his delegee, proposes measures which fall outside of the authorities provided in this decision, such measures may not be implemented without the approval of the Board;
13. Reaffirms that the Headquarters of the GCF remain in Songdo, Incheon, Republic of Korea, in accordance with decision 6/CP.18 of the Conference of the Parties to the United Nations Framework Convention on Climate Change, and in accordance with the Agreement between the Republic of Korea and the Green Climate Fund concerning the Headquarters of the Green Climate Fund; and
14. Decides to review the implementation of this decision on the originally scheduled dates for the twenty-seventh meeting of the Board (22 to 24 October 2020).

The Board:

1. Takes note of the “Final report of the review of the effectiveness of committees and group established by the Board”, the independent review of committees, panels and groups presented at the twenty-fourth meeting of the Board in document GCF/B.24/Inf.15/Add.01;
2. Notes its decision B.05/12, paragraphs (a) and (b), and document GCF/B.05/12 titled “General Guidelines for Committees and Panels”;
3. Requests the Co-Chairs to consult Board and alternate members, as well as the various committees, with a view to concluding the review of committees, panels and groups no later than the twenty-sixth meeting of the Board;
4. Invites Board and alternate members, as well as committees, to present views on the independent review no later than 10 April 2020 in order to inform the Co-Chairs’ consultations;
5. Requests the Co-Chairs, in accordance with decision B.05/12, paragraph (b), to present updated general guidelines for committees and panels for consideration at the twenty-sixth meeting of the Board; and
6. Reiterates decision B.23/03, paragraph (c), and urges the Co-Chairs to undertake pre-Board meeting consultations in an open, inclusive, consultative and transparent manner with regard to the documents referred to in paragraphs (c) and (e) above.

The Board, having considered document GCF/B.25/02/Rev.01 titled “Consideration of funding proposals”:

1. Takes note of the following funding proposals:
   1. Funding proposal 124 titled “Strengthening Climate Resilience of Subsistence Farmers and Agricultural Plantation Communities residing in the vulnerable river basins, watershed areas and downstream of the Knuckles Mountain Range Catchment of Sri Lanka”, by the International Union for Conservation of Nature, as contained in document GCF/B.25/02/Add.01 and Add.10/Rev.01;
   2. Funding proposal 125 titled “Strengthening the resilience of smallholder agriculture to climate change-induced water insecurity in the Central Highlands and South-Central Coast regions of Vietnam”, by the United Nations Development Programme, as contained in document GCF/B.25/02/Add.02 and Add.10/Rev.01;
   3. Funding proposal 126 titled “Increased climate resilience of rural households and communities through the rehabilitation of production landscapes in selected localities of the Republic of Cuba (IRES)", by the Food and Agriculture Organization of the United Nations, as contained in document GCF/B.25/02/Add.03 and Add.10/Rev.01;
   4. Funding proposal 127 titled “Building Climate Resilience of Vulnerable Agricultural Livelihoods in Southern Zimbabwe", by the United Nations Development Programme, as contained in document GCF/B.25/02/Add.04 and Add.10/Rev.01;
   5. Funding proposal 128 titled “Arbaro Fund – Sustainable Forestry Fund”, by MUFG Bank, Ltd., as contained in document GCF/B.25/02/Add.07; and
   6. Simplified approval process (SAP) funding proposal 013 titled “Scaling Smart, Solar, Energy Access Microgrids in Haiti”, by Nordic Environment Finance Corporation, as contained in document GCF/B.25/02/Add.08;
2. Approves funding proposal 124 for the amount of USD 39,775,000, 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.25/02/Add.10/Rev.01;
3. Also approves funding proposal 125 for the amount of USD 30,205,367, submitted by the United Nations Development Programme, subject to the conditions set out in annex II and in the respective term sheet set out in document GCF/B.25/02/Add.10/Rev.01;
4. Further approves, pursuant to a vote in which 22 of the Board members present voted in favour and none of the Board members present voted against, and in respect of which none of the Board members present abstained from the vote, funding proposal 126 for the amount of USD 38,206,791, submitted by Food and Agriculture Organization of the United Nations, subject to the conditions set out in annex II and in the respective term sheet set out in document GCF/B.25/02/Add.10/Rev.01;
5. Approves funding proposal 127 for the amount of USD 26,574,567, submitted by the United Nations Development Programme, subject to the conditions set out in annex II and in the respective term sheet set out in document GCF/B.25/02/Add.10/Rev.01;
6. Also approves funding proposal 128 for the amount of USD 25,000,000, submitted by the MUFG Bank, Ltd., subject to the conditions set out in annex II and in the respective term sheet set out in document GCF/B.25/02/Add.07;
7. Further approves simplified approval process (SAP) funding proposal 013 for the amount of USD 9,900,000, submitted by the Nordic Environment Finance Corporation, subject to the conditions set out in annex II and in the respective term sheet set out in document GCF/B.25/02/Add.08;
8. 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
9. 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/BM-2020/01 titled “Implementation matters relating to the GCF’s obligations under the Policy on the Prevention and Protection from Sexual Exploitation, Sexual Abuse, and Sexual Harassment”:

1. Reiterates the commitment of the GCF to the highest standards of integrity, including its zero tolerance for sexual exploitation, sexual abuse and sexual harassment;
2. Decides that the provisions of the Policy on the Prevention and Protection from Sexual Exploitation, Sexual Abuse, and Sexual Harassment relating to third parties (including Counterparties and Victims that are not Covered Individuals, each as defined in the Policy on the Prevention and Protection from Sexual Exploitation, Sexual Abuse, and Sexual Harassment) are to be reviewed and revised and, pending the outcome of such review and revision, are inoperative;
3. Takes note that, subject to paragraph (b) above, the Policy on the Prevention and Protection from Sexual Exploitation, Sexual Abuse, and Sexual Harassment is in effect;
4. Requests the Secretariat to present to the Board, no later than its twenty-seventh meeting, the proposed revisions of the Policy on the Prevention and Protection from Sexual Exploitation, Sexual Abuse, and Sexual Harassment, in line with best practices among international financial institutions and the business model of the GCF;
5. Also requests the Secretariat to assess the cost implications of implementation of the Policy on the Prevention and Protection from Sexual Exploitation, Sexual Abuse, and Sexual Harassment and to submit to the Budget Committee a budget request for its consideration prior to its presentation to the Board at its twenty-seventh meeting; and
6. Further requests the Secretariat to present to the Board for its consideration, no earlier than the consideration of the proposed revisions to the Policy on the Prevention and Protection from Sexual Exploitation, Sexual Abuse, and Sexual Harassment described in paragraph (d) above, amendments to the relevant standards, safeguards and policies of the GCF, to address the requirements placed on accredited entities to integrate the obligations set out in the Policy on the Prevention and Protection from Sexual Exploitation, Sexual Abuse, and Sexual Harassment.

The Board, having considered limited distribution document GCF/BM-2020/04 titled “Status of approved funding proposals: major change to FP027 (Universal Green Energy Access Programme)”:

1. Takes note of the no-objection letters submitted by Ethiopia and Uganda for FP027;
2. Approves the inclusion of Ethiopia and Uganda as host countries for FP027;
3. Also approves the waiver of the drawing condition set out in the approved term sheet for FP027, as described in document GCF/BM-2020/04; and
4. Authorizes the Secretariat to negotiate the funded activity agreement for FP027, which shall reflect the changes hereby approved, as contained in document GCF/BM-2020/04.

The Board, having considered document GCF/B.25/06 titled “Co-Chairs proposal: Guidance from the twenty-fifth session of the Conference of the Parties”:

1. Takes note of this report, including the actions to be undertaken by the Board and the Secretariat in 2020 in response to guidance received from the Parties during the twenty-fifth session of the Conference of the Parties, as contained in annex I; and
2. Confirms that, in accordance with paragraph 18(n) of the Governing Instrument for the Green Climate Fund, as well as decision B.13/11 on the relationship of the Green Climate Fund with United Nations Framework Convention on Climate Change thematic bodies, the engagement of the Board with United Nations Framework Convention on Climate Change constituted bodies is determined by the Board and in the context of the agreed Board workplan and priorities.

The Board, having considered document GCF/B.25/12 titled “Review of the simplified approval process pilot scheme”, and with reference to decision B.18/06, which mandated the review of the simplified approval process pilot scheme:

Requests the Secretariat to further develop the simplified approval process for Board consideration by the twenty-sixth meeting of the Board.

The Board, having considered document GCF/B.25/10 titled “Revision of the structure and operations of the independent Technical Advisory Panel”:

1. Takes note of the independent consultant’s report of the same title as presented in annex II of document GCF/B.25/10;
2. Decides to reappoint, 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 1.5-year term starting on the date of the expiration of their current term:
   1. Mr. Ahsan Ahmed;
   2. Ms. Claudia Martinez; and
   3. Mr. Joe Yamagata;
3. Also decides to amend the terms of reference of the independent Technical Advisory Panel to increase the size of the Panel from 6 members to 10 members by the end of 2020;
4. Requests the Secretariat to launch a call for experts immediately in order to identify suitable candidates to join the independent Technical Advisory Panel as members;
5. Also requests the Secretariat to recruit one administrative support consultant to report to and work directly with the Chair of independent Technical Advisory Panel, but shall be hosted by and located in the Secretariat for administrative purposes;
6. Further requests the Investment Committee to nominate additional experts as members of the independent Technical Advisory Panel by the twenty-sixth meeting of the Board, with due consideration given to the geographic and specialty coverage in accordance with the updated terms of reference of the independent Technical Advisory Panel;
7. Requests the Secretariat to improve the contracting modality for the roster of experts for use by the independent Technical Advisory Panel to ensure quick deployment and utilization;
8. Approves an additional administrative budget for the Board for the year 2020 in the amount of USD 338,800 to cover the additional four members of the independent Technical Advisory Panel, the administrative support consultant, and the operationalization of the roster of experts. This approval is in addition to the USD 3,673,720 approved via decision B.24/05, paragraph (f), thus bringing the total administrative budget for the Board for the year 2020 to USD 4,012,520; and
9. Requests the Secretariat, in consultation with the Investment Committee and the independent Technical Advisory Panel, to propose updates to the operational modalities of the independent Technical Advisory Panel to accommodate the increased workload by the twenty-sixth meeting of the Board.

The Board, having considered limited distribution document GCF/B.25/04 titled “Status of approved funding proposals: Extension of deadline in respect of FP104 (Nigeria Solar IPP Support Program)”:

1. Recalls decision B.24/10;
2. Notes with concern the delay in the implementation of FP104;
3. Decides to extend the deadline until 21 August 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. FP104, titled “Nigeria Solar IPP Support Program”;
4. Recognizes that in light of the repeated requests to extend the deadline referred to in paragraph (c) above, the Board may be unwilling to grant any further extension beyond 21 August 2020; and
5. Requests the Secretariat to present to the Board at its twenty-sixth meeting a status update on the implementation progress of FP104 and, as appropriate, any lessons learned relating to projects whose deadlines have been extended by the Board.

The Board, having considered limited distribution document GCF/B.25/11 titled “Status of approved funding proposals: status of further no-objection letters and modality for adding future no-objection letters for FP038 (GEEREF NeXt)”:

1. Recalls that the Secretariat presented FP038 at the sixteenth meeting of the Board to be implemented in 30 host countries, including Uruguay;
2. Also recalls decision B.16/02, in which the Board approved FP038;
3. Confirms, accordingly, that the Board approved FP038 in decision B.16/02 for 30 host countries, including Uruguay;
4. Takes note of the five new no-objection letters for FP038 submitted by the national designated authorities for the relevant countries;
5. Approves the inclusion of Morocco, Panama, the Philippines, Saint Lucia and Samoa as host countries for FP038; and
6. Authorizes the Secretariat to negotiate the funded activity agreement for FP038, which shall reflect the change hereby approved, as contained in document GCF/B.25/11.

The Board, having considered document GCF/B.25/13/Rev.01 titled “Consideration of accreditation proposals”:

1. Takes note of the explanation provided by the Secretariat and the Accreditation Panel contained within annex VI of document GCF/B.25/13/Rev.01 regarding Applicant 90 (APL090) (the National Committee for Sub-National Democratic Development Secretariat (NCDDS)), which was accredited by the Board pursuant to decision B.24/11;
2. Recalling decision B.24/11, paragraphs (a) and (b), decides that the accreditation of Applicant APL090 will apply to the National Committee for Sub-National Democratic Development (NCDD) instead of NCDDS, subject to, and in accordance with, the assessments by the Accreditation Panel contained in the relevant annexes for Applicant APL090 in decision B.24/11 and the completion of Stage III of the accreditation process by having an effective accreditation master agreement, in accordance with decision B.23/11; and
3. Requests the Co-Chairs to transmit to the Board a draft decision containing the paragraphs below with an invitation to approve the decision on a non-objection basis within a period of fourteen (14) days:
   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 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, 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 document GCF/B.24/11 titled “GCF First Replenishment (GCF-1): Replenishment Summary Report”:

1. Welcomes the successful conclusion of the first formal replenishment process of the GCF, as mandated by Board decision B.21/18;
2. Expresses its appreciation to the group of Board members and alternate members who represented the Board and the GCF and actively engaged in the replenishment process;
3. Welcomes the pledges made by 28 contributors totalling USD 9.66 billion (SDR 6.97 billion) equivalent (as of 14 November 2019), and the credit earned due to early payment encashment, which brings the outcome of the pledging session to USD 9.78 billion (SDR 7.05 billion) equivalent;
4. Encourages further pledges and/or contributions during the replenishment period, in accordance with decision B.21/18;
5. Also encourages contributing countries to confirm their pledges to the GCF in the form of fully executed contribution agreements/arrangements as soon as possible;
6. Approves the updated Policy for Contributions, as contained in annex I of this document;
7. Agrees that it will consider the recommendations in the “Replenishment Summary Report” (document GCF/B.24/11) during its development of the updated Strategic Plan and other items on its workplan; and
8. Requests the Secretariat, in light of paragraph (g) above, to reflect these recommendations in its preparation of relevant documentation for Board consideration.

The Board, having considered document GCF/B.24/Inf.01 titled “The Strategic Plan for the GCF: 2020–2023”:

1. Requests the Secretariat, under the guidance of the Co-Chairs, to continue developing the updated Strategic Plan for 2020–2023, with a view to presenting it for consideration and approval by the Board at its twenty-fifth meeting, and that it takes into account:
   
   1. Guidance set out by the Board in decision B.22/06 and decisions taken by the Board at its twenty-fourth meeting, including in relation to the outcomes of the first formal replenishment process of the GCF;
   2. Ongoing consultation with Board members and alternate members, including comments made at and the outcomes of the twenty-fourth meeting of the Board and further written submissions made by Board and alternate members; and
   3. An inclusive process of engagement with GCF stakeholders, including developing countries, accredited entities, advisory groups, active observers and observer organizations;
2. Invites Board members and alternate members, as well as active observers, to submit written comments to the Secretariat on the draft updated Strategic Plan set out in document GCF/B.24/Inf.01 by 20 December 2019 to inform the work referred to in paragraph (a) above;
3. Requests the Secretariat to publish all written submissions on the GCF website;
4. Decides to hold an informal meeting of the Board, open to active observers, well before the twenty-fifth meeting of the Board, with a view to present a final draft of the updated Strategic Plan for 2020–2023;
5. Welcomes the offers from Liberia and Armenia to host the informal meeting of the Board;
6. Decides that the informal meeting shall be held from 5 to 7 February 2020 in Monrovia, Liberia;
7. Requests the Secretariat to distribute to Board and alternate members and active observers, at least two weeks prior to the informal meeting referred to in paragraph (d) above, an updated draft of the Strategic Plan for 2020–2023, along with guiding questions on issues requiring further consideration by the Board, as input to the informal meeting;
8. Decides that the cost of the informal meeting will be covered by the budget of the Board for 2020, as approved by decision B.24/05, and requests the Budget Committee to review the budgetary allocation; and
9. Requests the Secretariat to make the necessary arrangements for this informal meeting.

The Board, having considered document GCF/B.24/14/Rev.01 titled “Workplan of the Board for 2020 – 2023: Co-Chairs proposal”:

1. Endorses the policy cycle for 2020–2023, as set out in annex II;
2. Requests the Secretariat to report annually to the Board as part of the report on the activities of the Secretariat on the lessons learned in implementing the policy cycle, with the first report to be presented to the Board at its first meeting in 2021;
3. Adopts the workplan of Board for 2020–2023, as set out in annex III;
4. Requests the Co-Chairs to update the Board workplan upon adoption of the Strategic Plan for 2020–2023 and at the first Board meeting of each year;
5. Decides that, notwithstanding anything to the contrary in any previous Board decisions or their annexes, any pending Board mandates or reviews of policies, guidelines, frameworks or other similar documents adopted by the Board shall, unless otherwise specified in this decision, be considered by the Board in accordance with the workplan of the Board for 2020–2023, as set out in annex II, or as subsequently amended;
6. Requests the Secretariat and independent units to commence policy reviews to enable Board consideration of the matters as scheduled in the workplan;
7. Decides to consider the following matters under the Strategic Plan for 2020–2023, as requested pursuant to decisions B.19/05, paragraph (c); B.21/18, paragraph (t); and B.22/06, paragraph (d):
   
   1. Findings of the additional analysis of potential investment priority areas to identify specific results areas where targeted GCF investment would have the most impact, as requested pursuant to decision B.17/08, paragraph (b);
   2. Alternative policy approaches for the integral and sustainable management of forests, as requested pursuant to decisions B.12/07, paragraph (e); B.14/01, paragraph (e); and B.17/01, paragraph (b)(vii);
   3. Mobilization of private sector finance to progress GCF forestry-related results areas, as requested pursuant to decisions B.12/07, paragraph (f); B.BM-2017/02; and B.17/01, paragraph (b)(xxi);
   4. Modalities to support activities to enable domestic and international private sector actors to engage in GCF activities in least developed countries and small island developing States, as requested pursuant to decisions B.19/18, paragraph (b); and B.20/03, paragraph (b)(vi);
   5. Private Sector Advisory Group recommendations to engage the private sector, including local actors, in adaptation action at the national, regional and international levels, as requested pursuant to decisions B.15/03, paragraph (i)(ii); B.17/06, paragraph (d)(ii); and B.21/04, paragraph (c)(ii);
   6. Steps to enhance the climate rationale of GCF-supported activities, as requested pursuant to decision B.19/06, paragraph (d)(i);
   7. Terms of reference for a request for proposal to support climate technology incubators and accelerators, as requested pursuant to decision B.18/03, paragraph (c); and
   8. The updated operational framework on complementarity and coherence, as requested pursuant to decision B.20/05, paragraph (e);
8. Requests the respective committees to oversee the reviews set out below, with the support of the Secretariat or independent units as relevant, 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. Specifically:
   
   1. The Investment Committee to review in 2020 and 2022 the financial terms and conditions of grants and concessional loans pursuant to the review mandated by decision B.BM-2019/08, paragraph (c);
   2. The Investment Committee to review by 2021 the investment criteria indicators pursuant to the review mandated by decision B.19/07, paragraph (b);
   3. The Risk Management Committee to review in 2020 the initial financial risk management framework pursuant to the review mandated by decision B.07/05, paragraph (f); and
   4. The Risk Management Committee to review in 2020 the risk management framework (components I–VII) pursuant to the reviews mandated in the policies as adopted through decisions B.17/11, paragraph (a), and B.19/04, paragraph (a);
9. Also requests the Budget Committee to consider the initial analysis of options to minimize the effects of currency fluctuations on the commitment authority of the GCF, as requested pursuant to decision B.21/14, paragraph (j), and to present to the Board any recommended action for its consideration;
10. Further requests the Secretariat to develop the appropriate risk rating models with the support from an external professional service provider, as requested pursuant to decision B.17/11, paragraph (f), with the proviso to bring any recommendations requiring Board attention back to the Board;
11. Requests the Secretariat to conduct the review of the scaling pilot, as requested pursuant to decision B.10/17, paragraph (e), and decision B.12/18, in conjunction with the review of the investment criteria indicators, adopted pursuant to decision B.22/15, and to communicate its findings to the Investment Committee and the Board;
12. Decides that formal meetings of the Board will continue to be webcast live until otherwise decided by the Board; and
13. Requests the Co-Chairs, taking into account the report contained in limited distribution document GCF/B.24/Inf.15/Add.01, to prepare a proposal on the review of the effectiveness of the committees and group established by the Board for consideration by the Board at its twenty-fifth meeting.

The Board, having considered document GCF/B.24/09 titled “2020 work programme of the Secretariat and annual administrative budget of the Secretariat, Board and Trustee” and GCF/B.24/Inf.07 titled “Reports from committees, panels and groups of the Board of the Green Climate Fund”:

1. Recognizes that the work programme will help to guide the activities of the Secretariat during 2020;
2. Approves the 2020 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 an administrative budget for the Secretariat, as presented in annex IV, section IV, for the period 1 January 2020 to 31 December 2020 in the amount of USD 70,190,932, which includes USD 26,083,209 in new funding as well as USD 44,107,723 for 2020 staff salaries and emoluments that was approved by the Board by decision B.18/12, paragraph (d);
4. Further approves releasing the amount of USD 45 million, which was set aside towards the operating expenses of the GCF for 2020, as per decision B.22/21, paragraph (a);
5. Approves USD 50,758,819 for projected staff salaries and emoluments for 2022;
6. Also approves a budget for the Board in the amount of USD 3,673,720, as found in annex IV, table 4;
7. Further approves a budget for the Trustee in the amount of USD 2,881,000, as included annex IV, table 17;
8. Decides to set aside an additional amount of USD 70 million towards the risk buffer;
9. Requests the Secretariat to ensure that the Secretariat’s consultancies budget, as contained in annex IV, section IV, be used in line with the work programme of the Secretariat as approved by the Board; and
10. Acknowledges expectations from the Board for Board documentation to be released in line with paragraph 21 of the Rules of Procedure of the Board.

The Board, having considered document GCF/B.24/12 titled “Independent Evaluation Unit 2020 Work Plan and Budget and Update of its Three-year Objectives and Work Plan”:

1. Approves the workplan and budget of the Independent Evaluation Unit for 2020 as contained in annex VII for the total budgeted amount of USD 5.58 million;
2. Requests the Budget Committee to review the budget execution during 2020 and acknowledges that the Independent Evaluation Unit may present to the Board for consideration at its twenty-sixth meeting an additional budgetary request to execute its workplan for 2020; and
3. Notes the update on the Independent Evaluation Unit’s rolling three-year workplan, outlined in annex VIII as requested by the Board to ensure flexibility, learning and predictability for the Independent Evaluation Unit

The Board, having considered document GCF/B.24/16/Rev.01 titled “Workplan and budget of the Independent Integrity Unit for 2020”:

1. Approves the workplan and budget of the Independent Integrity Unit for 2020 as contained in annexes IX, X, and XI for the total budgeted amount of USD 2,638,044; and
2. Requests the Budget Committee and Ethics and Audit Committee to review the budget execution during 2020 and acknowledges that the Independent Integrity Unit may present to the Board, for its consideration at its twenty-sixth meeting, an additional budgetary request to execute its workplan for 2020.

The Board, having considered document GCF/B.24/03/Rev.01 titled “Independent Redress Mechanism Work Plan and Budget for 2020”:

Approves the workplan and budget of the Independent Redress Mechanism for 2020 as contained in annexes XII and XIII, respectively, for the total budgeted amount of USD 1,321,238.

The Board, having considered document GCF/B.24/02/Rev.02 titled “Consideration of funding proposals”:

1. Takes note of the following funding proposals:
   
   1. Funding proposal 082 titled “Catalyzing Climate Finance (Shandong Green Development Fund)”, by the Asian Development Bank, as contained in document GCF/B.24/02/Add.01, Add.10 and Add.18/Rev.01;
   2. Funding proposal 116 titled “Carbon Sequestration through Climate Investment in Forests and Rangelands in Kyrgyz Republic (CS-FOR)”, by the Food and Agriculture Organization of the United Nations, as contained in document GCF/B.24/02/Add.02 and Add.18/Rev.01;
   3. Funding proposal 117 titled “Implementation of the Lao PDR Emission Reductions Programme through improved governance and sustainable forest landscape management”, by the Deutsche Gesellschaft fuer Internationale Zusammenarbeit (GIZ) GmbH, as contained in document GCF/B.24/02/Add.03 and Add.18/Rev.01;
   4. Funding proposal 118 titled “Building a Resilient Churia Region in Nepal (BRCRN)”, by the Food and Agriculture Organization of the United Nations, as contained in document GCF/B.24/02/Add.04 and Add.18/Rev.01;
   5. Funding proposal 119 titled “Water Banking and Adaptation of Agriculture to Climate Change in Northern Gaza”, by the Agence Française de Developpement (AFD), as contained in document GCF/B.24/02/Add.05 and Add.18/Rev.01;
   6. Funding proposal 120 titled “Chile REDD+ RBP for results period 2014-2016”, by the Food and Agriculture Organization of the United Nations, as contained in document GCF/B.24/02/Add.06 and Add.18/Rev.01;
   7. Funding proposal 121 titled “REDD+ Results-based payments in Paraguay for the period 2015-2017”, by the United Nations Environment Programme, as contained in document GCF/B.24/02/Add.07 and Add.18/Rev.01;
   8. Funding proposal 122 titled “Blue Action Fund (BAF): GCF Ecosystem Based Adaptation Programme in the Western Indian Ocean”, by the Kreditanstalt für Wiederaufbau (KfW), as contained in document GCF/B.24/02/Add.08 and Add.18/Rev.01;
   9. Simplified approval process (SAP) funding proposal 008 titled “Extended Community Climate Change Project-Flood (ECCCP-Flood)”, by the Palli KarmaSahayak Foundation (PKSF), as contained in document GCF/B.24/02/Add.12 and Add.18/Rev.01;
   10. Simplified approval process (SAP) funding proposal 009 titled “Building resilience of urban populations with ecosystem-based solutions in Lao PDR”, by the United Nations Environment Programme, as contained in document GCF/B.24/02/Add.13 and Add.18/Rev.01;
   11. Simplified approval process (SAP) funding proposal 010 titled “Multi-Hazard Impact-Based Forecasting and Early Warning System for the Philippines”, by the Landbank of the Philippines, as contained in document GCF/B.24/02/Add.14 and Add.18/Rev.01;
   12. Simplified approval process (SAP) funding proposal 011 titled “Climate-resilient food security for women and men smallholders through integrated system-based risk management”, by the World Food Programme, as contained in document GCF/B.24/02/Add.15 and Add.18/Rev.01;
   13. Simplified approval process (SAP) funding proposal 012 titled “Inclusive Green Financing for Climate Resilient and Low Emission Smallholder Agriculture”, by the International Fund for Agricultural Development, as contained in document GCF/B.24/02/Add.16/Rev.01 and Add.18/Rev.01; and
2. Approves, pursuant to a vote in which 19 of the Board members present voted in favour and 2 of the Board members present voted against, and in respect of which 1 of the Board members present abstained from the vote, funding proposal 082 for the amount of USD 100,000,000, submitted by the Asian Development Bank, subject to the conditions set out in annex XIV and in the respective term sheet set out in document GCF/B.24/02/Add.18/Rev.01;
3. Decides, pursuant to the above-mentioned vote, in respect of funding proposal FP082, that the Asian Development Bank may seek further approval of the Board at meetings of the Board or through decisions between meetings of commitment of further funding in an amount, when aggregated with the amounts previously approved by the Board, no greater than USD 180,000,000, subject to the conditions set out in annex XIV;
4. Approves funding proposal 116 for the amount of USD 29,988,520, submitted by the Food and Agriculture Organization of the United Nations, subject to the conditions set out in annex XIV and in the respective term sheet set out in document GCF/B.24/02/Add.18/Rev.01;
5. Also approves funding proposal 117 for the amount of EUR 15,160,596, submitted by the Deutsche Gesellschaft fuer Internationale Zusammenarbeit (GIZ) GmbH, subject to the conditions set out in annex XIV and in the respective term sheet set out in document GCF/B.24/02/Add.18/Rev.01;
6. Further approves funding proposal 118 for the amount of USD 39,299,905, submitted by the Food and Agriculture Organization of the United Nations, subject to the conditions set out in annex XIV and in the respective term sheet set out in document GCF/B.24/02/Add.18/Rev.01;
7. Approves funding proposal 119 for the amount of EUR 23,709,782, submitted by the Agence Française de Developpement, subject to the conditions set out in annex XIV and in the respective term sheet set out in document GCF/B.24/02/Add.18/Rev.01;
8. Also approves funding proposal 120 for the amount of USD 63,607,552, submitted by the Food and Agriculture Organization of the United Nations, subject to the conditions set out in annex XIV and in the respective term sheet set out in document GCF/B.24/02/Add.18/Rev.01;
9. Further approves funding proposal 121 for the amount of USD 50,000,000, submitted by the United Nations Environment Programme, subject to the conditions set out in annex XIV and in the respective term sheet set out in document GCF/B.24/02/Add.18/Rev.01;
10. Approves funding proposal 122 for the amount of EUR 30,000,000, submitted by the Kreditanstalt für Wiederaufbau (KfW), subject to the conditions set out in annex XIV and in the respective term sheet set out in document GCF/B.24/02/Add.18/Rev.01;
11. Also approves simplified approval process (SAP) funding proposal 008 for the amount of USD 9,681,340, submitted by the Palli Karma-Sahayak Foundation, subject to the conditions set out in annex XIV and in the respective term sheet set out in document GCF/B.24/02/Add.18/Rev.01;
12. Further approves simplified approval process (SAP) funding proposal 009 for the amount of USD 10,000,000, submitted by the United Nations Environment Programme, subject to the conditions set out in annex XIV and in the respective term sheet set out in document GCF/B.24/02/Add.18/Rev.01;
13. Approves simplified approval process (SAP) funding proposal 010 for the amount of USD 9,999,042, submitted by the Landbank of the Philippines, subject to the conditions set out in annex XIV and in the respective term sheet set out in document GCF/B.24/02/Add.18/Rev.01;
14. Also approves simplified approval process (SAP) funding proposal 011 for the amount of USD 9,250,000, submitted by the World Food Programme, subject to the conditions set out in annex XIV and in the respective term sheet set out in document GCF/B.24/02/Add.18/Rev.01;
15. Further approves simplified approval process (SAP) funding proposal 012 for the amount of EUR 8,500,000, submitted by the International Fund for Agricultural Development, subject to the conditions set out in annex XIV and in the respective term sheet set out in document GCF/B.24/02/Add.18/Rev.01;
16. 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
17. 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.