Twentieth meeting of the GCF Board (B.20)

Songdo, Incheon, Republic of Korea
1 - 4 July 2018

Documents
Type Title Ref # PDF
Meeting report
Report of the twentieth meeting of the Board, 1 – 4 July 2018 GCF/B.20/26
Decision
Decisions of the Board – twentieth meeting of the Board, 1 – 4 July 2018 GCF/B.20/25
Agenda
Provisional agenda GCF/B.20/01/Drf.01
Agenda
Provisional agenda GCF/B.20/01/Drf.02
Agenda
Provisional agenda GCF/B.20/01/Drf.04
Action item
Terms of reference for the review of the committees and group established by the Board GCF/B.20/01
Action item
Audited financial statements of the Green Climate Fund for the year ended 31 December 2017 GCF/B.20/02
Action item
Report on the execution of the 2018 administrative budget of GCF as at 30 April 2018 GCF/B.20/03
Action item
Strategy to increase funding proposals from direct access entities GCF/B.20/04
Action item
Strategy to increase funding proposals from direct access entities – Addendum: results of survey of DAEs and NDAs in preparation of 2018 Enhanced Direct Access Workshop GCF/B.20/04/Add.01
Action item
Annual update on complementarity and coherence GCF/B.20/05
Action item
Arrangements for the first formal replenishment of the Green Climate Fund GCF/B.20/06/Rev.01
Action item
Updated Gender Policy and Action Plan 2018–2020 GCF/B.20/07
Action item
Policies for contributions from philanthropic foundations and other alternative sources GCF/B.20/08/Rev.01
Action item
Risk management framework: compliance risk policy - Proposal by the Risk Management Committee GCF/B.20/09
Action item
Consideration of funding proposals GCF/B.20/10
Action item
Consideration of funding proposals – Addendum I Funding proposal package for FP082 GCF/B.20/10/Add.01
Action item
Consideration of funding proposals – Addendum II Funding proposal package for FP083 GCF/B.20/10/Add.02
Action item
Consideration of funding proposals – Addendum III Funding proposal package for FP084 GCF/B.20/10/Add.03
Action item
Consideration of funding proposals – Addendum IV Funding proposal package for FP085 GCF/B.20/10/Add.04
Action item
Consideration of funding proposals – Addendum V Funding proposal package for FP086 GCF/B.20/10/Add.05
Action item
Consideration of funding proposals – Addendum VI Funding proposal package for FP087 GCF/B.20/10/Add.06
Action item
Consideration of funding proposals – Addendum VII Funding proposal package for FP088 GCF/B.20/10/Add.07
Action item
Consideration of funding proposals – Addendum VIII Funding proposal package for FP089 GCF/B.20/10/Add.08
Action item
Consideration of funding proposals – Addendum IX Funding proposal package for FP090 GCF/B.20/10/Add. 09
Action item
Consideration of funding proposals – Addendum XIII Secretariat’s review GCF/B.20/10/Add.13
Action item
Consideration of funding proposals – Addendum XIV Independent Technical Advisory Panel’s assessment GCF/B.20/10/Add.14/Rev.01
Action item
Consideration of funding proposals – Addendum XVII Response from the accredited entities to the Independent Technical Advisory Panel assessment GCF/B.20/10/Add.17
Action item
Consideration of funding proposals – Addendum XVIII Gender assessments and action plans GCF/B.20/10/Add.18
Action item
Consideration of funding proposals – Addendum XIX Funding proposal package for SAP002 GCF/B.20/10/Add.19
Action item
Consideration of funding proposals – Addendum XXI Funding proposal package for SAP003 GCF/B.20/10/Add.21
Action item
Consolidated Country and Entity Work Programmes – Addendum I: Compilation of Country Programmes completed by countries GCF/B.20/11/Add.01
Action item
Consolidated country and entity work programmes GCF/B.20/11
Action item
Recommendations of the Private Sector Advisory Group on opportunities to engage the private sector in adaptation GCF/B.20/12
Action item
Consideration of accreditation proposals GCF/B.20/13
Action item
GCF communications strategy GCF/B.20/14
Action item
Seventh Report of the Green Climate Fund to the Conference of the Parties to the United Nations Framework Convention on Climate Change GCF/B.20/15
Action item
Updated workplan of the Board for 2018 GCF/B.20/16
Action item
Accreditation framework review, including the project specific framework approach GCF/B.20/17
Action item
An integrated approach to addressing policy gaps to ensure climate impact: an overview of policies related to the consideration of funding proposals GCF/B.20/18
Action item
Interrelated policy matters on incremental cost and full cost, concessionality, and co-financing GCF/B.20/19
Action item
Revision of the structure and operations of the independent Technical Advisory Panel GCF/B.20/20
Action item
Two-stage approval process for GCF funding proposals GCF/B.20/21
Action item
Further options for decision-making relating to funding proposals GCF/B.20/22
Action item
Dates and venues of the following meetings of the Board GCF/B.20/23
Information
Update on the further development of some indicators in the performance measurement frameworks GCF/B.20/Inf.01
Information
Readiness and Preparatory Support Programme: progress report GCF/B.20/Inf.02
Information
Report on the activities of the Independent Redress Mechanism GCF/B.20/Inf.03
Information
Report of the Independent Evaluation Unit for 2018 GCF/B.20/Inf.04
Information
Status of the initial resource mobilization process GCF/B.20/Inf.05
Information
Status of the GCF portfolio: approved projects and fulfilment of conditions GCF/B.20/Inf.06
Information
Status of the GCF pipeline, including the status of Project Preparation Facility requests GCF/B.20/Inf.07/Rev.01
Information
Report on the activities of the Secretariat GCF/B.20/Inf.08
Information
Reports from committees, panels and group of the Board of the Green Climate Fund GCF/B.20/Inf.09
Information
Reports from committees, panels and group of the Board of the Green Climate Fund – Addendum GCF/B.20/Inf.09/Add.01
Information
Decisions proposed and approved between the nineteenth and twentieth meetings of the Board GCF/B.20/Inf.10
Information
Steps to enhance the climate rationale of GCF-supported activities GCF/B.20/Inf.11
Information
Review of the financial terms and conditions of the Green Climate Fund financial instruments GCF/B.20/Inf.12
Information
Mapping of elements related to project or programme eligibility and selection criteria GCF/B.20/Inf.13
Information
Investment criteria indicators GCF/B.20/Inf.14
Information
Identification of results areas where targeted GCF investment would have the most impact GCF/B.20/Inf.15
Information
Report on the activities of the Co-Chairs GCF/B.20/Inf.16
Information
Report on the activities of the Independent Integrity Unit GCF/B.20/Inf.17
Information
Annotations to the provisional agenda GCF/B.20/Inf.18
Meeting agenda
Item Title
1. Opening of the meeting
2. Adoption of the agenda and organization of work
3. Adoption of the report of the nineteenth meeting of the Board
4. Board decisions proposed and approved between the nineteenth and twentieth meetings of the Board
4.a. Application of paragraph 42 of the Rules of Procedure of the Board: guidelines to determine in which cases decisions may be taken without a Board meeting
4.b. Application of paragraph 43 of the Rules of Procedure of the Board
5. Report on the activities of the Secretariat
5.a. Implementation of the work programme of the Secretariat
6. Report on the activities of the Co-Chairs
6.a. Co-Chairs’ report
6.a.i. Confirmation of the appointment of the Heads of the Independent Units beyond the probationary period
6.b. Updated Board workplan for 2018
7. Reports from Board committees, panels and groups
8. Matters related to the selection of the permanent Trustee
9. Terms of reference for the review of the committees and panel established by the Board
10. Guidance from the Conference of the Parties to the United Nations Framework Convention on Climate Change
10.a. Report on the analysis of the challenges, barriers, gaps and recommendations to achieve an increase in the amount of direct access proposals in the pipeline
10.b. Annual report on the operational framework on complementarity and coherence
10.c. Seventh report of the GCF to the Conference of the Parties to the United Nations Framework Convention on Climate Change
11. Status of the GCF portfolio: approved projects and the fulfilment of conditions
12. Status of the GCF pipeline, including the status of the Project Preparation Facility requests
13. Status of the initial resource mobilization process
14. GCF Trust Fund financial report
15. Matters related to replenishment
16. Matters related to replenishment
17.a. Country and entity work programmes
17.b. Progress and outlook report, including status of national adaptation plans
18. Matters related to accreditation
18.a. Consideration of accreditation proposals
18.b. Accreditation framework review, including the project specific framework approach
18.c. Status of the accreditation master agreements
19. Risk management framework: compliance risk policy
20. Matters related to the approval of funding proposals
20.a. Integrated approach to addressing policy gaps
20.b. Interrelated policy matters on incremental cost and full cost calculation methodology; options for further guidance on concessionality; and policy on cofinancing
20.c. Matters related to the independent Technical Advisory Panel
20.d. Further options for decision-making relating to funding proposals
20.e. Two-stage proposal approval process
20.f. Review of the financial terms and conditions of the GCF financial instruments
20.g. Investment criteria indicators
20.h. Mapping of elements related to project or programme eligibility and selection criteria
20.i. Policy guidelines for programmatic approach
20.j. Steps to enhance the climate rationale of GCF-supported activities
20.k. Identification of results areas where targeted GCF investment would have the most impact
20.l. Results management framework: update on the further development of some indicators in the performance measurement frameworks
21. Consideration of funding proposals
22. Recommendations of the Private Sector Advisory Group on opportunities to engage the private sector, including local actors, in adaptation action at the national, regional and international levels
23. Dates and venues of the following meetings of the Board
24. Administrative matters
24.a. Approval of the audited financial statements for 2017
24.b. Report on the execution of the administrative budgets for 2018
25. Reports from the independent units
26. Other matters
27. Report of the meeting
28. Close of the meeting

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.

Item Title Timestamp File
1. Opening of the meeting [part 1] 01 Jul 2018
11:28
- 11:40
1. Opening of the meeting [part 2] 01 Jul 2018
14:50
- 15:29
1. Opening of the meeting [part 3] 01 Jul 2018
15:55
- 16:33
2. Adoption of the agenda and organization of work [part 1] 01 Jul 2018
16:33
- 17:38
2. Adoption of the agenda and organization of work [part 2] 02 Jul 2018
09:12
- 10:42
2. Adoption of the agenda and organization of work [part 3] 02 Jul 2018
11:52
- 12:39
2. Adoption of the agenda and organization of work [part 4] 02 Jul 2018
15:42
- 15:55
3. Adoption of the report of the nineteenth meeting of the Board 02 Jul 2018
15:55
- 16:06
4. Board decisions proposed and approved between the nineteenth and twentieth meetings of the Board 02 Jul 2018
16:06
- 16:09
4. Board decisions proposed and approved between the nineteenth and twentieth meetings of the Board [part 2] 04 Jul 2018
20:01
- 20:01
4.a. / 4.b. Application of paragraph 42 of the Rules of Procedure of the Board: guidelines to determine in which cases decisions may be taken without a Board meeting - 4.b Application of paragraph 43 of the Rules of Procedure of the Board 02 Jul 2018
16:10
- 16:26
5. Report on the activities of the Secretariat 02 Jul 2018
16:26
- 17:44
6.a. Co-Chairs’ report [part 1] 02 Jul 2018
17:45
- 18:00
6.a. Co-Chairs’ report [part 2] 03 Jul 2018
09:14
- 09:39
6.a. Co-Chairs’ report [part 3] 04 Jul 2018
12:03
- 12:10
6.a.i. Confirmation of the appointment of the Heads of the Independent Units beyond the probationary period 03 Jul 2018
09:38
- 10:01
6.a.i. Confirmation of the appointment of the Heads of the Independent Units beyond the probationary period [part 2] 04 Jul 2018
11:54
- 12:03
6.b. Updated Board workplan for 2018 03 Jul 2018
10:01
- 10:09
7. Reports from Board committees, panels and groups 03 Jul 2018
10:09
- 10:19
8. Matters related to the selection of the permanent Trustee 03 Jul 2018
10:19
- 10:40
9. Terms of reference for the review of the committees and panel established by the Board 03 Jul 2018
10:40
- 10:46
10.a. Report on the analysis of the challenges, barriers, gaps and recommendations to achieve an increase in the amount of direct access proposals in the pipeline [part 1] 03 Jul 2018
10:46
- 11:00
10.a. Report on the analysis of the challenges, barriers, gaps and recommendations to achieve an increase in the amount of direct access proposals in the pipeline [part 2] 03 Jul 2018
11:22
- 12:20
10.b. Annual report on the operational framework on complementarity and coherence [part 1] 03 Jul 2018
12:20
- 12:30
10.b. Annual report on the operational framework on complementarity and coherence [part 2] 03 Jul 2018
13:42
- 14:01
10.b. Annual report on the operational framework on complementarity and coherence [part 3] 04 Jul 2018
12:10
- 12:12
10.c. Seventh report of the GCF to the Conference of the Parties to the United Nations Framework Convention on Climate Change 03 Jul 2018
14:01
- 14:08
11. Status of the GCF portfolio: approved projects and the fulfilment of conditions 03 Jul 2018
14:08
- 14:18
12. Status of the GCF pipeline, including the status of the Project Preparation Facility requests 03 Jul 2018
14:19
- 14:41
13. Status of the initial resource mobilization process [part 3] 04 Jul 2018
12:13
- 12:22
13. Status of the initial resource mobilization process [part 4] 04 Jul 2018
15:55
- 16:13
13. / 14. Status of the initial resource mobilization process and 14. GCF Trust Fund financial report [part 1] 03 Jul 2018
14:42
- 15:40
13. / 14. Status of the initial resource mobilization process and 14. GCF Trust Fund financial report [part 2] 03 Jul 2018
16:07
- 16:24
15. Matters related to replenishment 03 Jul 2018
16:21
- 18:02
15. Matters related to replenishment [part 2] 04 Jul 2018
11:47
- 12:16
15. Matters related to replenishment part [3] 04 Jul 2018
16:13
- 16:57
15. Matters related to replenishment [part 4] 04 Jul 2018
17:22
- 17:55
15. Matters related to replenishment [part 5] 04 Jul 2018
19:14
- 19:37
15. Matters related to replenishment [part 6] 04 Jul 2018
19:56
- 20:00
23. Dates and venues of the following meetings of the Board 04 Jul 2018
19:39
- 19:57
24.a. Approval of the audited financial statements for 2017 04 Jul 2018
19:37
- 19:39
28. Close of the meeting 04 Jul 2018
20:02
- 20:13