Boardroom

The Board, having considered document GCF/BM-2018/23 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:

• Actions Vitales pour le Développement durable (AVD)
• African Women's Development Fund (AWDF)
• Center for Indigenous Peoples' Research & Development (CIPRED)
• Civil Society Network on Climate Change (CISONECC)
• Institute of Law & Economics (ILE)
• Mercy Corps (MC)
• Munich Climate Insurance Initiative (MCII)
• RAJ Tunisia Réseau Camerounais des Organisations des Droits de l’Homme/Cameroon Network of Human Rights Organizations (RECODH/CNHRO)
• Women Educators Association of Nigeria (WEAN)

Private sector organizations:

• ARD, Inc. (Tetra Tech ARD)

International entities:

• Italian Agency for Development Cooperation (AICS)

The Board, having considered the limited distribution document GCF/BM-2018/20 titled “Status of funded activity agreements: extension of deadline in respect of FP058 (Responding to the increasing risk of drought: building gender-responsive resilience of the most vulnerable communities)”:

Decides to extend the deadline for the entering into of a funded activity agreement for the following approved funding proposal:

1. FP058, titled “Responding to the increasing risk of drought: building genderresponsive resilience of the most vulnerable communities”, by 180 days starting from 20 August 2018.

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

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

The Board, having considered the limited distribution document GCF/BM-2018/17 titled “Re-appointment of members of the independent Technical Advisory Panel”:

1. Takes note of the executive summary of the performance assessment of each member of the independent Technical Advisory Panel as presented in annex II of document GCF/BM-2018/17, and the full report of the performance assessment of each member of the independent Technical Advisory Panel as presented in annex III of document GCF/BM-2018/17;
2. Considers that the performance of each member of the independent Technical Advisory Panel during their current term of membership has been satisfactory;
3. Decides to re-appoint, as an exception to paragraph 12 of annex I to decision B.BM2018/09, the following members of the independent Technical Advisory Panel for a twoyear term starting on the date of the expiration of their current term:
   1. Mr. Joe Yamagata;
   2. Ms. Claudia Martinez; and
   3. Mr. Ahsan Ahmed.

The Board, having considered the limited distribution document GCF/BM-2018/14 titled “Status of approved funding proposals: Extension of deadline in respect of FP020 (Sustainable Energy Facility for the Eastern Caribbean)”:

Decides to extend the deadline until 28 January 2019 for submission of a certificate by the accredited entity confirming that it has obtained all final internal approvals needed to the project and it has the capacity and authority to implement the proposed project for the following approved funding proposal:

1. FP020, entitled “Sustainable Energy Facility for the Eastern Caribbean.”

The Board:

1. Notes that the Co-Chair from developing country Parties is unable to attend the twentieth meeting of the Board;
2. Acknowledges that the Board, having received no nomination, is unable to elect another Board member from a developing country Party to assume the functions of the Co-Chair for the duration of the meeting;
3. Agrees, notwithstanding paragraph 8 and section 4.2 of the Rules of Procedure of the Board, and in light of the exceptional circumstances and without setting a precedent, that the Co-Chair from developed country Parties shall discharge the duties of both Co-Chairs for the duration of the twentieth meeting of the Board only and that in doing so, he shall, in accordance with paragraph 10 of the Rules of Procedure of the Board, be guided by the best interests of the Fund; and
4. Requests the Co-Chairs to consult with Board members and alternate members of the Board on the matters relating to the preparations for the twenty-first meeting of the Board.

The Board:

1. Takes note that the appointments of the heads of the independent Evaluation Unit, the independent Integrity Unit and independent Redress Mechanism have been confirmed; and
2. Reaffirms that all future decisions relating to the appointment, confirmation of appointment and termination of all Board-appointed officials shall be taken by the Board.

The Board, having considered document GCF/B.20/16 titled “Updated workplan of the Board for 2018”:

1. Takes note of the updated workplan of the Board for 2018, as set out in annex I;
2. Decides to defer consideration of the following matters and requests the Secretariat, in consultation with the Co-Chairs and the relevant committees, panels and groups of the Board, to progress its work on these matters and present these for consideration by the Board at the earliest possible opportunity:
   
   1. The development of a full set of policies relating to prohibited practices, anti- money-laundering and countering the financing of terrorism, requested pursuant to decision B.14/01, paragraph (e);
   2. The development of the terms of reference for a request for proposal to support climate technology incubators and accelerators, requested pursuant to decision B.18/03, paragraph (c);
   3. Guidance on the approach and scope for providing support to adaptation activities, requested pursuant to decision B.17/10, paragraph (c)(ii);
   4. The definition of the nature, scope and extent of second-level due diligence, requested pursuant to decision B.17/09, paragraph (o);
   5. The development of risk-rating models, requested pursuant to decision B.17/11, paragraph (f); and
   6. The development of modalities, based on the recommendations from the Private Sector Advisory Group, 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, requested pursuant to decision B.19/18, paragraph (b).

The Board, having considered document GCF/B.20/01 titled “Terms of reference for the review of the committees and groups established by the Board”:

1. Adopts the terms of reference for the review of the effectiveness of the committees, panels and group established by the Board as set out in annex II to this document;
2. Decides that the review shall be undertaken by an independent consultant or firm, with the aim of presenting the outcomes of such review and any recommendations to the Board for its consideration as soon as possible and no later than the twenty-first meeting of the Board;
3. Requests the Secretariat to promptly procure the independent consultant or firm referred to in paragraph (b) above; and
4. Authorizes the Co-Chairs to establish the maximum amount that can be used for the procurement of such independent consultant or firm, which shall then be accommodated within the 2018 administrative budget of the Secretariat.

The Board, having considered document GCF/B.20/05 titled “Annual update on complementarity and coherence”:

1. Welcomes progress on the implementation of the Operational Framework on complementarity and coherence;
2. Requests the Secretariat to include, as appropriate, the update on 2017−2018 activities as contained in document GCF/B.20/05 in the seventh report of GCF to the Conference of the Parties to the United Nations Framework Convention on Climate Change, in line with decision B.17/04, paragraph (d);
3. Invites national designated authorities to collaborate with accredited entities to bring to the country programming process any applicable work and lessons achieved with other climate funds, in line with their country priorities and in accordance with the business model of GCF;
4. Requests the Secretariat to provide information to national designated authorities and accredited entities, as appropriate, related to promoting coherence at the national programming level, including with regard to paragraph (c);
5. Also requests the Secretariat to (i) develop a proposal for consideration by the Board in 2019 with an updated set of outcomes for the operational framework on complementarity and coherence for 2019−2020; and (ii) include proposals for consideration by the Board on areas where further fund-to-fund arrangements are possible to improve efficiency, effectiveness and simplicity, and to enhance the alignment of portfolios with other climate funds;
6. Requests the Co-Chairs, with the support of the Secretariat, to engage with the Chair and Vice-Chair of the Adaptation Fund Board to better understand options for collaboration with the Adaptation Fund, and to report back to the Board at its twenty-first meeting; and
7. Requests the Secretariat to collaborate with the Climate Investment Funds Administrative Unit to advise national designated authorities on how programming opportunities identified by Climate Investment Funds beneficiary countries may be brought to GCF programming, as appropriate, including through the work referred to in paragraph (d) above.

The Board, having considered document GCF/B.20/15 titled “Seventh Report of the Green Climate Fund to the Conference of the Parties to the United Nations Framework Convention on Climate Change”:

1. Requests the Co‐Chairs, assisted by the Secretariat, to finalize the “Seventh Report of the Green Climate Fund to the Conference of the Parties to the United Nations Framework Convention on Climate Change”, presented in annex III to this document, taking into consideration the comments made and decisions taken at the twentieth meeting of the Board, and submit the revised report to the United Nations Framework Convention on Climate Change secretariat no later than 12 weeks prior to the twenty-fourth session of the Conference of the Parties, in accordance with decision 7/CP.20, paragraph 23.

The Board, having considered document GCF/B.20/Inf.06 titled “Status of the GCF portfolio: approved projects and fulfilment of conditions”, document GCF/B.20/Inf.07/Rev.01 titled “Status of the GCF pipeline, including the status of Project Preparation Facility requests” and document GCF/B.20/Inf.05 titled “Status of the initial resource mobilization process”:

1. Takes note that the GCF cumulative funding approvals as at the twentieth meeting of the Board amount to USD 4.4 billion, and the remaining commitment authority for the initial resource mobilization is currently projected at USD 2.8 billion;
2. Recognizes the high demand in the GCF pipeline from developing countries, and that an approach to managing the GCF commitment authority and resources is required to guide developing countries and accredited entities in engaging with GCF;
3. Takes note of the information provided, which relates to the effects on the commitment authority related to currency fluctuations to the amount of USD 0.9 billion1 and the as-yet unfulfilled contribution agreements/arrangements to the amount of USD 0.1 billion;2
4. Takes note of the level of the current state of the disbursement of resources to the amount of 274 million for approved projects and urges the Secretariat to continue to make progress to speed up the rate at which projects reach the implementation stage;
5. Requests the Secretariat to consider the Board’s comments on the need for financial management of the commitment authority in preparing for the twenty-first meeting of the Board, with a view to ensuring resources for the operation of the GCF for the remainder of the initial resource mobilization period in line with paragraph (f) below;
6. Also requests the Secretariat to prepare an analysis of options for the financial planning of the GCF commitment authority for the initial resource mobilization with a view to managing the GCF pipeline to balance commitments and diversity among accredited entities and across the initial results areas of the GCF based on confirmed contributions in accordance with decision B.06/06 on resource allocation, and present this to the Board for consideration and adoption at its twenty-first meeting; and
7. Confirms that the financial planning exercise should also contain a forward-looking analysis on pipeline management to guide the GCF replenishment process.

The Board, having considered document GCF/B.20/23 titled “Dates and venues of the following meetings of the Board”:

1. Decides that the twenty-first meeting of the Board will take place from Wednesday, 17 October to Saturday, 20 October 2018; and
2. Decides that, without setting a precedent, the deadline for disclosure of environmental and social safeguards reports for category A projects and I-1 programmes to be considered by the Board at its twenty-first meeting of the Board will be kept as per the dates for twenty- first meeting of the Board adopted in decision B.19/22, paragraph (b).

The Board, having considered document GCF/B.20/02 titled “Audited financial statements of the Green Climate Fund for the year ended 31 December 2017”:

Approves the audited financial statements of the Green Climate Fund for the year ended 31 December 2017 as contained in annex IV.

The Board, having reviewed document GCF/BM-2018/13 titled “Appointment of member to the Investment Committee”:

Appoints Mr. Chris Tinning as member of the Investment Committee for the remainder of the current term for members of the Investment Committee, and starting on the date of adoption of this decision.

The Board, having considered document GCF/BM-2018/14 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 Fund:

Civil Society Organizations:

• Asian Institute of Technology (AIT)
• Catholic Relief Services - United States Conference of Catholic Bishops (CRS)
• Climate Action Network Tanzania (CAN Tanzania)
• Fundación Futuro Latinamericano (FFLA)
• Gana Unnayan Kendra (GUK)
• GenderCC- Southern Africa (GenderCCSA)
• Greener Impact International (GII)

Private sector organizations:

• Africa Green Co (AGC DevCo)
• Ernst & Young Taiwan (EY Taiwan)
• Factor Ideas Integral Services SL (Factor)
• Forest Conservation Botswana (FCB)
• Vietnam Business Forum (VBF)

The Board, having considered the limited distribution document GCF/BM-2018/11 titled “Status of funded activity agreements: Extension of deadline in respect of FP041 (Simiyu Climate Resilient Development Programme)”:

Decides to extend the deadline for the entering into of a funded activity agreement for the following approved funding proposal:

1. FP041, entitled “Simiyu Climate Resilient Development Programme”, by 180 days starting from 5 May 2018.

The Board, having reviewed document GCF/BM-2018/10 titled “Appointment of member to the Accreditation Committee”:

Appoints Mr. Karma Tshering as member of the Accreditation Committee for the remainder of the current term for members of the Accreditation Committee, and starting on the date of adoption of this decision.

The Board, having considered document GCF/BM-2018/09 titled “Updated terms of reference of the Technical Advisory Panel”:

1. Approves the updated terms of reference of the independent Technical Advisory Panel (the Panel) as set out in annex I;
2. Requests the Investment Committee to present a recommendation to the Board, at the Board’s twentieth meeting, regarding the extension of the terms of the three Panel members with contracts expiring in August 2018, with reference to the ongoing performance review of the members of the Panel as appropriate; and
3. Requests the Investment Committee, with the support of the Secretariat, to nominate members of the Panel for endorsement by the Board at its twentieth meeting in a number necessary to replace current Panel members not serving for a second term and, if deemed appropriate, to increase the capacity of the Panel following the recommendation of the Secretariat, as per decision B.19/08, paragraph (d).

The Board, having considered document GCF/BM-2018/08 titled “Modalities for the qualitative and quantitative review of the live webcasting service for formal meetings of the Board”:

1. Approves the qualitative and quantitative modalities for the review of the live webcasting service for formal meetings of the Board as contained in annex I; and
2. Decides that, no later than the twenty-first meeting of the Board, the Board will consider the review of the live webcasting service for formal meetings of the Board.

The Board, having considered document GCF/BM-2018/06/Rev.01 titled “Status of the fulfilment of funding proposal conditions: waiver of a condition in respect of FP021 (AFD Senegal Integrated Urban Flood Management Project)”:

Decides to waive the following condition that was adopted through decision B.14/07 for funding proposal FP021, “Senegal Integrated Urban Flood Management Project” submitted by Agence Française de Développement, thus rendering the condition not applicable with respect to funding proposal FP021:

“Additional conditions: […]

4. Securing funding for intradomiciliary connections in those areas where sewers will be built.”

The Board, having reviewed document GCF/BM-2018/04 titled “Appointment of members to the Investment Committee of the Board”:

Appoints Mr. Ignacio Lorenzo as member of the Investment Committee, for the remainder of the current term for members of the Investment Committee, starting on the date of adoption of this decision.

The Board, having considered document GCF/BM-2018/05 titled “Establishment of the Information Appeals Panel”:

Establishes the Information Appeals Panel composed of the heads of the three independent accountability units of the Green Climate Fund, in accordance with paragraph 28 of the Information Disclosure Policy of the Green Climate Fund and decision B.12/35.

The Board:

Elects Mr. Paul Oquist and Mr. Lennart Båge as the Co-Chairs for 2018 with effect immediately and for the remainder of the period expiring on 31 December 2018.

The Board, having considered document GCF/B.19/02 titled “Guidance from the twenty- third session of the Conference of the Parties: Co-Chairs’ proposal”:

1. Takes note of the guidance from the Conference of the Parties at its twenty-third session, in particular decision 9/CP.231 titled “Report of the Green Climate Fund to the Conference of the Parties and guidance to the Green Climate Fund”;
2. Requests the Secretariat to continue efforts to enhance support for national adaptation planning and/or other adaptation planning processes;
3. Requests the Secretariat to include in its annual report to the Conference of the Parties information on projects approved by the Board that support the innovation and/or scaling up of climate technologies; and
4. Requests the Co-Chairs to develop a proposal for consideration of the Board in response to the guidance from the Conference of the Parties at its twenty-third session regarding privileges and immunities.

The Board, having considered document GCF/B.18/19 titled “Report on the Activities of the Ad-hoc Trustee Selection Committee” (limited distribution) and in accordance with decision B.08/22, paragraph (a), and UNFCCC decision 3/CP.17, paragraph 16:

1. Affirms that there should not be a discontinuity in the service of the Trustee;
2. Confirms that the selection of the Permanent Trustee of the GCF shall be undertaken through an open, transparent and competitive bidding;
3. Adopts the terms of reference of the Permanent Trustee set out in annex I;
4. Also adopts the selection process set out in annex II;
5. Approves the timeframe for the selection process set out in annex III;
6. Also approves the allocation of up to USD 25,000, to be absorbed in the 2018 contractual services budget of the Secretariat budget, to carry out the advertisement in an appropriate international publication for the procurement process for the selection of the Permanent Trustee in a cost-effective manner;
7. Decides to invite the World Bank to continue serving as the Interim Trustee until a permanent trustee is appointed;
8. Authorizes the Executive Director to execute an amendment to the Amended and Restated Agreement on the Terms and Conditions for the Administration of the Green Climate Fund Trust Fund, dated 22 April 2015, with the World Bank to extend the term of the Interim Trustee established in paragraph 8.4 of the Amended and Restated Agreement on the Terms and Conditions for the Administration of the Green Climate Fund Trust Fund, with all other terms and conditions remaining the same, for an additional period of one year or the date on which the successor trustee takes up the role, whichever occurs earlier; and
9. Requests the ad-hoc Trustee Selection Committee to report to the Board on the implementation of this decision at the twenty-first meeting of the Board.

The Board, having reviewed document GCF/B.19/19 titled “Risk management framework: Proposal by the Risk Management Committee”:

1. Adopts the second set of components of the risk management framework as contained in annexes IV to VI to this document as follows:
   
   1. Risk management framework component V – investment risk policy, as set out in annex IV;
   2. Risk management framework component VI – non-financial risk policy, as set out in annex V; and
   3. Risk management framework component VII – funding risk policy, as set out in annex VI;
2. Decides to update component III of the risk management framework “Risk dashboard – revised reporting on concentration” as set out in annex VII to this document;
3. Requests the Secretariat to publish the updated risk dashboard every quarter hereafter;
4. Recognizes that the risk management framework will evolve over time and shall be subject to reviews and revisions as stated in each individual component of the risk management framework and that any resulting revisions of a material and/or substantive nature shall be presented to the Board for its consideration and approval.

The Board, noting the GCF Initial Resource Mobilization period runs from 2015-2018 and its decision2 to transition subsequently to a formal replenishment process:

1. Decides to advance work under its 2018 work programme to conclude the essential preparatory arrangements for the first formal replenishment process of the GCF, noting this is without prejudice to the timing of a decision to initiate replenishment in line with decision B.08/13;
2. Requests the Co-Chairs, with the support of the Secretariat, and in consultation with members of the Board, to oversee the preparation of necessary policies and procedures for the formal replenishment process; and
3. Reiterates the Board’s intention to review the Strategic Plan of the GCF as part of the formal replenishment process.

The Board, having noted documents GCF/B.19/34 titled “Incremental cost methodology: potential approaches for the Green Climate Fund” and GCF/B.19/12/Rev.01 titled “Concessionality: potential approaches for further guidance”:

1. Notes the linkages between matters related to incremental costs and concessionality and the policy gaps identified in decision B.11/11, including project eligibility criteria, as well as issues related to co-finance and other matters considered at subsequent Board meetings;
2. Also notes the linkages between such policy gaps and the GCF Results Management Framework, initial Investment Framework, country programmes and entity work programmes, and the Risk Management Framework;
3. Further notes that addressing these policy gaps requires an integrated approach that considers their interlinkages;
4. Requests the Secretariat to develop an integrated approach to resolve these interrelated issues for the Board’s consideration at its twentieth meeting, including:
   
   1. Steps to enhance the climate rationale of GCF-supported activities; and
   2. Policies on the review of the financial terms and conditions of GCF instruments and concessionality, incremental costs, full costs, and co-financing;
5. Agrees that the approach outlined in paragraph (d) above should:
   
   1. Take into account the views expressed by Board members during the nineteenth meeting of the Board and any further written comments that may be submitted before 30 March 2018;
   2. Be aligned with the Governing Instrument for the GCF and GCF strategic frameworks, including the initial Strategic Plan, the Results Management Framework, the initial Investment Framework, country programmes and entity work programmes, and the Risk Management Framework;
   3. Be aligned with the Board work plan and the Secretariat work programme;
   4. Propose an approach to address gaps in the Results Management Framework that is necessary to effectively implement these policies; and
   5. Take note of innovative and useful experiences of other institutions and an analysis of the GCF portfolio; and
6. Requests the Secretariat to include in the approach outlined in paragraph (d) above a capacity-building strategy to support national designated authorities/focal points, and accredited entities, particularly direct access entities, to incorporate these policies into their interactions with GCF, particularly with respect to the proposal approval process and the simplified approval process.

The Board, having considered document GCF/B.19/04/Rev.01 titled “Indicative Minimum Benchmarks”:

1. Decides that the name of indicative minimum benchmarks, as requested in decision B.09/05, paragraph (d), be referred to as investment criteria indicators, as recommended by the Investment Committee; and
2. Requests the Secretariat to further develop a proposal on investment criteria indicators, under the guidance of the Investment Committee, for the consideration of the Board at its twentieth meeting, taking into account the feedback raised on investment criteria indicators by Board members during the nineteenth meeting of the Board and any further written comments that may be submitted before 30 March 2018.

The Board, having considered document GCF/B.19/03/Rev.01 titled “Review of the structure and effectiveness of the independent Technical Advisory Panel”:

1. Takes note with appreciation of the analysis and recommendations presented in the document;
2. Requests the Secretariat, as soon as is possible, to expedite the arrangements for a roster of experts to be drawn together, with the necessary sectoral and regional expertise, for use by the independent Technical Advisory Panel in the review of funding proposals;
3.  Also requests the Secretariat, in consultation with the independent Technical Advisory Panel, to develop a proposal, as requested in decision B.18/06, paragraph (c) (ii), to accommodate the increase in funding proposals from the simplified approval process through, inter alia, the use of the roster of experts and elaboration of a simplified approval process-specific timeline;
4. Further requests the Secretariat, in consultation with the independent Technical Advisory Panel and the Budget Committee, to present by the twentieth meeting of the Board an analysis of options to accommodate the increased workload resulting from the higher number of funding proposals being processed, and an updated budget proposal consistent with such options;
5. Allocates USD 250,000 for use by the independent Technical Advisory Panel on an exceptional basis, and as a temporary measure, until such a decision relating to paragraph (d) is taken, to increase the capacity of the independent Technical Advisory Panel, as noted in paragraphs (b) and (c) above;
6. Requests the independent Technical Advisory Panel, with the support of the Secretariat and the Investment Committee, to improve its internal structures and processes to ensure more coherence, the establishment of formal procedures, and the efficient use of time and resources, and to report to the Board on the progress made by the twentieth meeting of the Board;
7. Also requests the independent Technical Advisory Panel, with the support of the Secretariat, to develop a more comprehensive review template, ensuring that investment criteria and subcriteria are addressed consistently, using the appropriate metrics relevant for the sector and the investment criteria guidelines, when available;
8. Further requests the Secretariat and the independent Technical Advisory Panel to implement a periodic quality assurance process of the independent Technical Advisory Panel’s assessments, and report back to the Board by its twentieth meeting;
9. Requests the Secretariat and the independent Technical Advisory Panel to agree on and implement, on a pilot basis, a new review cycle that allows for longer review times by the independent Technical Advisory Panel and the provision of its inputs at an earlier stage in the approval process, consistent with the updated project and programme cycle as set up in annex IV to decision B.17/09;
10. Also requests the Secretariat to consult with the independent Technical Advisory Panel when developing sectoral guidance for projects and programmes; and
11. Decides to review the composition of the independent Technical Advisory Panel, defined in paragraph 11 of the terms of reference, upon the finalization of policies related to the proposal approval process, and based on the resource needs arising from the review of funding proposals and the support in the development of sectoral guidance.

The Board having reviewed document GCF/B.19/29 titled “Policy on fees for accredited entities and delivery partners”:

1. Adopts the policy on fees as set out in in annex VIII;
2. Also adopts the general principles and indicative list of eligible costs covered under GCF fees and project management costs as detailed in annex IX; and
3. Authorizes the Secretariat to make the required changes to the indicative list of eligible costs to be covered under GCF fees and the indicative list of eligible project management costs as detailed in annex IX for the implementation of the GCF funded activity and readiness activities.

The Board, having considered document GCF/B.19/06 titled “Environmental and social management system: environmental and social policy”:

1. Affirms that the GCF Environmental and Social Management System comprises the following elements:
   
   1. The Environmental and Social Policy referred to in paragraph (b) below;
   2. The GCF environmental and social safeguards standards, including the interim environmental and social safeguards standards adopted by the Board pursuant to decision B.07/02, paragraph (c);
   3. The Environmental and Social Management System manual containing the rules and procedures for the implementation of the Environmental and Social Management System referred to in paragraph (d) below;
   4. The guidance and tools, consisting of references and best practices, to guide the implementation of the Environmental and Social Management System referred to in paragraph (d) below;
   5. Stakeholder engagement consisting of GCF guidance and related policies promoting multi-stakeholder engagement referred to in paragraph (d) below; and
   6. Related GCF policies and practices relevant to, and complementing and supporting, the Environmental and Social Management System;
2. Adopts the GCF Environmental and Social Policy as presented in annex X to this document;
3. Requests the Secretariat, taking into account input from stakeholders, to present to the Board the proposed approach to developing the GCF environmental and social safeguards standards for its consideration at its twenty-first meeting; and
4. Also requests the Secretariat to develop and publish the Environmental and Social Management System manual and guidance, including guidance related to stakeholder engagement, no later than the twenty-second meeting of the Board.

The Board, having considered document GCF/B.19/05 titled “GCF Indigenous Peoples Policy”:

Adopts the Indigenous Peoples Policy as presented in annex XI to this document.

The Board, having considered document GCF/B.19/22/Rev.02 titled “Consideration of funding proposals”:

1. Takes note of the following funding proposals:
   
   1. Funding proposal 059 titled “Climate-Resilient Water Sector in Grenada (G- CREWS)” by Deutsche Gesellschaft fuer Internationale Zusammenarbeit (GIZ) GmbH, as contained in document GCF/B.19/22/Add.01 and Add.31/Rev.01;
   2. Funding proposal 060 titled “Water Sector Resilience Nexus for Sustainability in Barbados (WSRN S-Barbados)” by the Caribbean Community Climate Change Centre, as contained in document GCF/B.19/22/Add.02 and Add.31/Rev.01;
   3. Funding proposal 061 titled “Integrated physical adaptation and community resilience through an enhanced direct access pilot in the public, private, and civil society sectors of three Eastern Caribbean small island developing States” by the Department of Environment, Ministry of Health and the Environment, Government of Antigua and Barbuda, as contained in document GCF/B.19/22/Add.03 and Add.31/Rev.01;
   4. Funding proposal 062 titled “Poverty, Reforestation, Energy and Climate Change PROEZA Project” by the Food and Agriculture Organization of the United Nations, as contained in document GCF/B.19/22/Add.04 and Add.31/Rev.01;
   5. Funding proposal 063 titled “Promoting private sector investments in energy efficiency in the industrial sector in Paraguay” by the Inter-American Development Bank, as contained in document GCF/B.19/22/Add.05 and Add.31/Rev.01;
   6. Funding proposal 064 titled “Promoting risk mitigation instruments and finance for renewable energy and energy efficiency investments” by the Inter-American Development Bank, as contained in document GCF/B.19/22/Add.06 and Add.31/Rev.01;
   7. Funding proposal 065 titled “Financial Instruments for Brazil Energy Efficient Cities (FinBRAZEEC)” by the World Bank, as contained in document GCF/B.19/22/Add.07 and Add.31/Rev.01;
   8. Funding proposal 066 titled “Pacific Resilience Project Phase II for RMI” by the World Bank, as contained in document GCF/B.19/22/Add.08/Rev.01 and Add.31/Rev.01;
   9. Funding proposal 067 titled “Building climate resilience of vulnerable and food insecure communities through capacity strengthening and livelihood diversification in mountainous regions of Tajikistan” by the United Nations World Food Programme, as contained in document GCF/B.19/22/Add.09 and Add.31/Rev.01;
   10. Funding proposal 068 titled “Scaling-up Multi-hazard Early Warning System and the Use of Climate Information in Georgia” by the United Nations Development Programme, as contained in document GCF/B.19/22/Add.10 and Add.31/Rev.01;
   11. Funding proposal 069 titled “Enhancing adaptive capacities of coastal communities, especially women, to cope with climate change induced salinity” by the United Nations Development Programme, as contained in document GCF/B.19/22/Add.11 and Add.31/Rev.01;
   12. Funding proposal 070 titled “Global Clean Cooking Program – Bangladesh” by the World Bank, as contained in document GCF/B.19/22/Add.12/Rev.01 and Add.31/Rev.01;
   13. Funding proposal 071 titled “Scaling Up Energy Efficiency for Industrial Enterprises in Vietnam” by the World Bank, as contained in document GCF/B.19/22/Add.13 and Add.31/Rev.01;
   14. Funding proposal 072 titled “Strengthening climate resilience of agricultural livelihoods in Agro-Ecological Regions I and II in Zambia” by the United Nations Development Programme, as contained in document GCF/B.19/22/Add.14 and Add.31/Rev.01;
   15. Funding proposal 073 titled “Strengthening climate resilience of rural communities in Northern Rwanda” by the Ministry of Environment of Rwanda,3 as contained in document GCF/B.19/22/Add.15 and Add.31/Rev.01;
   16. Funding proposal 074 titled “Africa Hydromet Program – Strengthening Climate Resilience in Sub-Saharan Africa: Burkina Faso Country Project” by the World Bank, as contained in document GCF/B.19/22/Add.16/Rev.01 and Add.31/Rev.01;
   17. Funding proposal 075 titled “Institutional Development of the State Agency for Hydrometeorology of Tajikistan” by the Asian Development Bank, as contained in document GCF/B.19/22/Add.17 and Add.31/Rev.01;
   18. Funding proposal 076 titled “Climate-friendly Agribusiness Value Chains Sector Project” by the Asian Development Bank, as contained in document GCF/B.19/22/Add.18 and Add.31/Rev.01;
   19. Funding proposal 077 titled “Ulaanbaatar Green Affordable Housing and Resilient Urban Renewal Project (AHURP)” by the Asian Development Bank, as contained in document GCF/B.19/22/Add.19 and Add.31/Rev.01;
   20. Funding proposal 078 titled “Acumen Resilient Agriculture Fund (ARAF)” by Acumen Fund, Inc. as contained in document GCF/B.19/22/Add.20;
   21. Funding proposal 080 titled “Zambia Renewable Energy Financing Framework” by the African Development Bank, as contained in document GCF/B.19/22/Add.22;
   22. Funding proposal 081 titled “Line of Credit for Solar rooftop segment for commercial, industrial and residential housing sectors” by the National Bank for Agriculture and Rural Development of India, as contained in document GCF/B.19/22/Add.23; and
   23. Simplified approval process (SAP) funding proposal 001 titled “Improving rangeland and ecosystem management practices of smallholder farmers under conditions of climate change in Sesfontein, Fransfontein, and Warmquelle areas of the Republic of Namibia” by the Environmental Investment Fund, as contained in document GCF/B.19/22/Add.34 and Add.35;
2. Approves funding proposal 059 for the amount of EUR 35,290,095, submitted by Deutsche Gesellschaft fuer Internationale Zusammenarbeit (GIZ) GmbH, subject to the conditions set out in annex XII and in the respective term sheet set out in document GCF/B.19/22/Add.31/Rev.01;
3. Also approves funding proposal 060 for the amount of USD 27,605,010, submitted by the Caribbean Community Climate Change Centre, subject to the conditions set out in annex XII and in the respective term sheet set out in document GCF/B.19/22/Add.31/Rev.01;
4. Further approves funding proposal 061 for the amount of USD 20,000,000, submitted by the Department of Environment, Ministry of Health and the Environment, Government of Antigua and Barbuda, subject to the conditions set out in annex XII and in the respective term sheet set out in document GCF/B.19/22/Add.31/Rev.01;
5. Approves funding proposal 062 for the amount of USD 25,060,376, submitted by the Food and Agriculture Organization of the United Nations, subject to the conditions set out in annex XII and in the respective term sheet set out in document GCF/B.19/22/Add.31/Rev.01;
6. Also approves funding proposal 063 for the amount of USD 23,000,000, submitted by the Inter-American Development Bank, subject to the conditions set out in annex XII and in the respective term sheet set out in document GCF/B.19/22/Add.31/Rev.01;
7. Further approves funding proposal 064 for the amount of USD 103,000,000, submitted by the Inter-American Development Bank, subject to the conditions set out in annex XII and in the respective term sheet set out in document GCF/B.19/22/Add.31/Rev.01;
8. Approves funding proposal 065 for the amount of USD 195,000,000, submitted by the World Bank, subject to the conditions set out in annex XII and in the respective term sheet set out in document GCF/B.19/22/Add.31/Rev.01;
9. Also approves funding proposal 066 for the amount of USD 25,000,000, submitted by the World Bank, subject to the conditions set out in annex XII and in the respective term sheet set out in document GCF/B.19/22/Add.31/Rev.01;
10. Further approves funding proposal 067 for the amount of USD 9,273,586, submitted by the United Nations World Food Programme, subject to the conditions set out in annex XII and in the respective term sheet set out in document GCF/B.19/22/Add.31/Rev.01;
11. Approves funding proposal 068 for the amount of USD 27,053,598, submitted by the United Nations Development Programme, subject to the conditions set out in annex XII and in the respective term sheet set out in document GCF/B.19/22/Add.31/Rev.01;
12. Also approves funding proposal 069 for the amount of USD 24,980,000, submitted by the United Nations Development Programme, subject to the conditions set out in annex XII and in the respective term sheet set out in document GCF/B.19/22/Add.31/Rev.01;
13. Further approves funding proposal 070 for the amount of USD 20,000,000, submitted by the World Bank, subject to the conditions set out in annex XII and in the respective term sheet set out in document GCF/B.19/22/Add.31/Rev.01;
14. Approves funding proposal 071 for the amount of USD 86,300,000, submitted by the World Bank, subject to the conditions set out in annex XII and in the respective term sheet set out in document GCF/B.19/22/Add.31/Rev.01;
15. Also approves funding proposal 072 for the amount of USD 32,000,000, submitted by the United Nations Development Programme, subject to the conditions set out in annex XII and in the respective term sheet set out in document GCF/B.19/22/Add.31/Rev.01;
16. Further approves funding proposal 073 for the amount of USD 32,794,442, submitted by the Ministry of Environment of Rwanda, subject to the conditions set out in annex XII and in the respective term sheet set out in document GCF/B.19/22/Add.31/Rev.01;
17. Approves funding proposal 074 for the amount of USD 22,500,000, submitted by the World Bank, subject to the conditions set out in annex XII and in the respective term sheet set out in document GCF/B.19/22/Add.31/Rev.01;
18. Also approves funding proposal 075 for the amount of USD 5,000,000, submitted by the Asian Development Bank, subject to the conditions set out in annex XII and in the respective term sheet set out in document GCF/B.19/22/Add.31/Rev.01;
19. Further approves funding proposal 076 for the amount of USD 40,000,000, submitted by the Asian Development Bank, subject to the conditions set out in annex XII and in the respective term sheet set out in document GCF/B.19/22/Add.31/Rev.01;
20. Approves funding proposal 077 for the amount of USD 145,000,000, submitted by the Asian Development Bank, subject to the conditions set out in annex XII and in the respective term sheet set out in document GCF/B.19/22/Add.31/Rev.01;
21. Also approves funding proposal 078 for up to an amount of USD 26,000,000, submitted by Acumen Fund, Inc., subject to the conditions set out in annex XII and in the respective term sheets set out in document GCF/B.19/22/Add.24;
22. Further approves funding proposal 080 for the amount of USD 52,500,000, submitted by the African Development Bank, subject to the conditions set out in annex XII and in the respective term sheet set out in document GCF/B.19/22/Add.26;
23. Approves funding proposal 081 for the amount of USD 100,000,000, submitted by the National Bank for Agriculture and Rural Development of India, subject to the conditions set out in annex XII and in the respective term sheet set out in document GCF/B.19/22/Add.27;
24. Also approves simplified approval process (SAP) funding proposal 001 for the amount of USD 9,300,000, submitted by the Environmental Investment Fund, subject to the conditions set out in annex XII and in the respective term sheet set out in document GCF/B.19/22/Add.35;
25. 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
26. 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 interim policy on fees for accredited entities adopted by the Board pursuant to decision B.11/10.

The Board, having considered document GCF/B.19/28 titled “Further development of the accreditation framework”:

1. Takes note of the progress report on the review of the accreditation framework included in annex XIV;
2. Notes that the full report on the review of the accreditation framework with further recommendations will be presented to the Board as early as its twentieth meeting;
3. Decides to extend the prioritization of entities applying for accreditation in accordance with decision B.14/08, paragraph (d)(i), until the end of the twentieth meeting of the Board;
4. Takes note of the project-specific assessment approach that combines assessments undertaken during the existing accreditation and proposal approval processes in a fit-for- purpose manner as contained in annex XIII; and
5. Requests the Secretariat to further develop the approach referred to in paragraph (d) above, taking into account the views of Board members and as part of the proposals from the full review of the accreditation framework, for the Board’s consideration at its twentieth meeting.

The Board, having considered document GCF/B.19/14/Rev.01 titled “Status of accreditation matters”:

1. 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 XV; and
2. Decides that those entities referred to in annex XV 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 accredited by the Adaptation Fund, and decision B.08/03, paragraph (g), for entities under the Directorate-General for International Cooperation and Development of the European Commission.

The Board, having considered document GCF/B.19/32/Rev.01 titled “Readiness and Preparatory Support Programme: Revised Work Programme for 2018”:

1. Takes note of the findings of the initial review by the Secretariat of the Readiness and Preparatory Support Programme referred to in decision B.18/09, paragraph (e);
2. Also takes note of the immediate measures undertaken by the Secretariat to address the quality issues in the Readiness and Preparatory Support Programme as referred to in decision B.18/09;
3. Requests the Secretariat to continue implementing the measures listed in annex XVI;
4. Notes the revised work programme for the Readiness and Preparatory Support Programme and request for funding for 2018;
5. Approves an additional amount of USD 60 million to be made available for the execution of the Readiness and Preparatory Support Programme; and
6. Requests the Secretariat to submit to the Board a proposal for improving the Readiness and Preparatory Support Programme based on the outcome of the conclusions of the Secretariat’s initial review and of the independent evaluation of the Readiness and Preparatory Support Programme as soon as it is concluded.

The Board:

Approves the terms of reference for the independent evaluation of the Readiness Programme as contained in annexes XVII, XVIII and XIX.

The Board, having considered document GCF/B.19/30 titled “PSAG recommendations on the development of a private sector outreach plan”:

1. Welcomes and appreciates the recommendations from the Private Sector Advisory Group, including tailoring communication to the private sector, using existing networks and communication channels, continuing targeted requests for proposals, and ensuring expedited and predictable GCF timelines;
2. Requests the Secretariat to incorporate the recommendations from the Private Sector Advisory Group into the strategic road map of the Secretariat for leveraging, mobilizing and engaging domestic and international private sector actors, the Communications Strategy of the Green Climate Fund, and other relevant policies, processes and programmes, as appropriate; and
3. Requests the Secretariat to consider including a private sector outreach focus as part of the regional GCF structured dialogues.

The Board, having considered document GCF/B.19/31 titled “PSAG recommendations on the development of modalities to support activities enabling private sector involvement in LDCs and SIDS”:

1. Welcomes and appreciates the recommendations from the Private Sector Advisory Group;
2. Requests the Secretariat to develop modalities, based on the recommendations from the Private Sector Advisory Group, 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, for consideration by the Board at its twentieth meeting;
3. Requests the Secretariat, in cooperation with private and public sector entities, accredited entities, national designated authorities and focal points, to identify and facilitate the development of funding proposals targeting least developed countries and small island developing States, which involve innovative financing structures or modalities, such as project and small-scale solution aggregation, public-private insurance structures, and on- lending and risk capital investments through climate-oriented financial intermediaries; and
4. Decides to take into account the recommendations from the Private Sector Advisory Group, as appropriate, when (i) revising policies, programmes and processes, such as the accreditation framework, investment criteria indicators, the Readiness and Preparatory Support Programme, the Project Preparation Facility and the project approval process; and (ii) approving work plans and budgets relevant for private sector engagement.

The Board, having considered document GCF/B.19/08 titled “Independent Redress Mechanism Work Plan and Budget for 2018”:

Approves the work plan and budget of the Independent Redress Mechanism for 2018 as contained in annex II and III of document GCF/B.19/08 (total budgeted amount of
USD 911,820).

The Board, having considered document GCF/B.19/24 titled “2018 Workplan and Budget of the Independent Integrity Unit”:

Approves the work plan and budget of the Independent Integrity Unit for 2018 as contained in document GCF/B.19/24 and in annex II therein, that is a total budgeted amount of USD 1,612,950.

The Board, having considered document GCF/B.19/07 titled “2018 Work Plan and Budget and Three-year Rolling Work Plan of the Independent Evaluation Unit”:

1. Takes note of the Three-year Rolling Work Plan of the Independent Evaluation Unit as contained in annex XX and requests the Independent Evaluation Unit to amend it once the evaluation policy of the GCF has been adopted;
2. Recommends that the Three-year Rolling Work Plan be updated annually to ensure flexibility, learning and predictability for the Independent Evaluation Unit;
3. Approves the 2018 Work Plan and Budget of the Independent Evaluation Unit as contained in annex XXI (budget amounting to USD 2,953,867), respectively; and
4. Requests the Independent Evaluation Unit to report at each Board meeting on the implementation of its annual work plan and the Three-year Rolling Work Plan.

The Board, having reviewed document GCF/B.19/42/Rev.01 titled “Dates and venues for the following meetings of the Board”:

1. Decides that the twentieth meeting of the Board will take place in Songdo, Republic of Korea, from Sunday, 1 July to Wednesday, 4 July 2018;
2. Also decides that the twenty-first meeting of the Board will take place in Manama, Kingdom of Bahrain, from Tuesday, 23 October to Friday, 26 October 2018, with these dates to be confirmed at the twentieth meeting of the Board; and
3. Requests the Secretariat to initiate consultations with the host country with the aim of finalizing the memorandum of understanding for the hosting of a Board meeting at least four weeks before the commencement of the twenty-first meeting of the Board.

The Board, having reviewed document GCF/BM-2018/03 titled “Appointment of External Auditors”:

Appoints Daemyung Grant Thornton as the External Auditor of the Fund for a three-year period beginning with the audit of the 2017 financial statements

The Board, having considered document GCF/BM-2018/02 titled “Performance review of the 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 B.BM2017/03, 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 the date of this decision or, if applicable, the date of expiration of their current term, and expiring on 17 October 2020 consistent with decision B.BM-2017/03, paragraph (g)(i):
   1. Mr. Max Contag;
   2. Ms. Anastasia Northland; and
   3. Mr. Godfrey Tumusiime; and
4. Endorses the nomination by the Accreditation Committee of the following experts to the Accreditation Panel for one term expiring on 17 October 2020 in accordance with the terms of reference in decision B.07/02, paragraph (h) and B.BM-2017/03, and taking into account decision B.08/20, paragraphs (d) and (e):
   1. Mr. Mark Alloway;
   2. Mr. Antonio G. M. La Viña; and
   3. Mr. Yogesh Vyas.

The Board, having considered document GCF/BM-2018/01 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 Fund:

International entities:

• Secretariat of the Convention on Biological Diversity (SCBD)
• United Nations Office for Project Services (UNOPS)

Civil Society Organizations:

• Centre of Research & Development in Upland Area (CERDA)
• Danish Family Planning Association (DFPA)
• Fundación Sur Futuro, Inc. (Sur Futuro)
• Green Camel Bell (GCB)
• Indo-OIC Islamic Chamber of Commerce and Industry (IICCI)
• Stockholm Environment Institute (SEI)

Private sector organizations:

• EcoPro Resources Limited (EcoPro)
• International Company for Water and Power Projects (ACWA Power)
• VEDA Climate Change Solutions Ltd (VCCSL)

The Board, having considered document GCF/BM-2017/16 titled “Terms of reference of the performance review of the members of the Technical Advisory Panel”:

1. Decides that, prior to the expiry of their terms of membership of the Technical Advisory Panel, each member of the Technical Advisory Panel shall undergo a performance review and shall only be eligible for a subsequent term of membership of the Technical Advisory Panel if the Board considers that the outcome of the relevant performance review is satisfactory;
2. Reaffirms the terms of reference, including the job description and qualifications, for the Technical Advisory Panel adopted in annex XII to decision B.09/10, which will guide the performance review of each member of the Technical Advisory Panel;
3. Adopts the guiding principles and methodology for the performance review of members of the Technical Advisory Panel of the Green Climate Fund for the performance review set out in annex III to this document;
4. Endorses the terms of reference for the performance review of the members of the Technical Advisory Panel, as contained in annex IV to this document;
5. Decides that the performance review of the members of the Technical Advisory Panel shall be undertaken by an independent consultant or firm, with the aim of presenting the outcome of the performance review to the Board for consideration at its twentieth meeting; and
6. Requests the Secretariat to promptly procure the independent consultant or firm referred to in paragraph (e) above.

The Board, having considered the draft 2018 work programmes and budgets of the Independent Redress Mechanism, Independent Integrity Unit and the Independent Evaluation Unit:

1. Takes note of the comments, suggestions and proposals made by Board members during the comment period as contained in documents GCF/2017/Inf.04, GCF/2017/Inf.05, and GCF/2017/Inf.06;
2. Approves the interim staffing budgets for 2018 as follows:
   1. USD 574,820 for the Independent Redress Mechanism;
   2. USD 1,062,950 for the Independent Integrity Unit;
   3. USD 1,883,667 for the Independent Evaluation Unit; and
3. Requests the heads of the Independent Units to present comprehensive work programmes and budgets for consideration by the Board at its nineteenth meeting.