Twenty-third meeting of the GCF Board (B.23)

Songdo, Incheon, Republic of Korea
6 - 8 July 2019

Documents
Type Title Ref # PDF
Agenda
Provisional agenda GCF/B.23/01/Drf.01
Agenda
Provisional agenda GCF/B.23/01/Drf.02
Meeting report
Report of the twenty-third meeting of the Board, 6 – 8 July 2019 GCF/B.23/24
Decision
Decisions of the Board – twenty-third meeting of the Board, 6 – 8 July 2019 GCF/B.23/23
Action item
Consideration of funding proposals GCF/B.23/02
Action item
Consideration of funding proposals - Addendum I Funding proposal package for FP107 GCF/B.23/02/Add.01
Action item
Consideration of funding proposals - Addendum II Funding proposal package for FP108 GCF/B.23/02/Add.02
Action item
Consideration of funding proposals - Addendum III Funding proposal package for FP109 GCF/B.23/02/Add.03
Action item
Consideration of funding proposals - Addendum IV Funding proposal package for FP110 GCF/B.23/02/Add.04
Action item
Consideration of funding proposals - Addendum V Funding proposal package for FP111 GCF/B.23/02/Add.05
Action item
Consideration of funding proposals - Addendum VI Funding proposal package for FP112 GCF/B.23/02/Add.06
Action item
Consideration of funding proposals - Addendum VII Funding proposal package for FP113 GCF/B.23/02/Add.07
Action item
Consideration of funding proposals – Addendum VIII Funding proposal package for FP114 GCF/B.23/02/Add.08
Action item
Consideration of funding proposals – Addendum IX Funding proposal package for FP115 GCF/B.23/02/Add.09
Action item
Consideration of funding proposals - Addendum XII Funding proposal package for SAP007 Annexes GCF/B.23/02/Add.12
Action item
Period of the first replenishment of the GCF GCF/B.23/03
Action item
Consideration of accreditation proposals GCF/B.23/04
Action item
Updated accreditation framework GCF/B.23/05
Action item
Risk management framework: compliance risk policy - Proposal by the Risk Management Committee GCF/B.23/06
Action item
Audited financial statements of the Green Climate Fund for the year ended 31 December 2018 GCF/B.23/07
Action item
Dates and venues of upcoming meetings of the Board GCF/B.23/08
Action item
Co-Chairs consultations: decision-making in the event that all efforts at reaching consensus have been exhausted GCF/B.23/09
Action item
Eighth Report of the Green Climate Fund to the Conference of the Parties to the United Nations Framework Convention on Climate Change GCF/B.23/10
Action item
Policy on ethics and conflicts of interest for active observers of the Green Climate Fund GCF/B.23/11
Action item
Review of the initial modalities for the Private Sector Facility GCF/B.23/12
Action item
Review of the initial modalities of the Private Sector Facility – Addendum I: Consideration of the private sector strategy GCF/B.23/12/Add.01
Action item
Review of the initial modalities of the Private Sector Facility – Addendum II: Consideration of 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 GCF/B.23/12/Add.02
Action item
Review of the initial modalities of the Private Sector Facility – Addendum III: Review of the mobilizing funds at scale pilot GCF/B.23/12/Add.03
Action item
Review of the initial modalities for the Private Sector Facility – Addendum IV: Review of the micro, small and medium‐sized enterprise pilot programme GCF/B.23/12/Add.04
Action item
Review of the initial modalities of the Private Sector Facility – Addendum V: PSAG recommendations on mobilization of private sector finance to progress the GCF forestry‐related results areas GCF/B.23/12/Add.05
Action item
Review of the initial modalities of the Private Sector Facility – Addendum VI: Technical notes GCF/B.23/12/Add.06
Action item
Consideration of restructuring paper for FP015 “Tuvalu Coastal Adaptation Project (TCAP)”- RP1 GCF/B.23/13
Action item
Consideration of restructuring paper for FP015 “Tuvalu Coastal Adaptation Project (TCAP)”- RP1 GCF/B.23/13/Add.01
Action item
Policy on the Prevention and Protection from Sexual Exploitation, Sexual Abuse, and Sexual Harassment GCF/B.23/14
Action item
Outcome of Co-Chairs consultations: Guidelines on decisions without a Board meeting GCF/B.23/16
Action item
Policy guidelines on the programmatic approach GCF/B.23/17
Action item
Matters related to GCF support to adaptation GCF/B.23/18
Action item
Review of the initial investment framework: Matters related to incremental and full cost calculation methodology and policies on co-financing and concessionality GCF/B.23/19
Action item
Forward-Looking Performance Review of the GCF GCF/B.23/20
Action item
Report on the activities of the Co-Chairs GCF/B.23/21
Action item
Report on the activities of the Co-Chairs – Addendum I: Updated workplan of the Board for 2019 GCF/B.23/21/Add.01/Rev.01
Action item
Report on the activities of the Co-Chairs – Addendum II: Approach to developing the environmental and social safeguards of GCF GCF/B.23/21/Add.02
Action item
Standards for the Implementation of the Anti-Money Laundering and Countering the Financing of Terrorism Policy GCF/B.23/22
Action item
Report on the activities of the Secretariat GCF/B.23/Inf.01
Information
Report on the activities of the Information Appeals Panel GCF/B.23/Inf.02
Information
Report on the activities of the Independent Redress Mechanism GCF/B.23/Inf.03
Information
Report on the activities of the Independent Evaluation Unit GCF/B.23/Inf.04
Information
Status of the GCF pipeline, including the status of Project Preparation Facility requests GCF/B.23/Inf.05
Information
Board decisions proposed between the twenty-second and twenty-third meetings of the Board GCF/B.23/Inf.06/Rev.01
Information
Report on the execution of the 2019 administrative budget of the GCF GCF/B.23/Inf.07
Information
Reports from committees, panels and group of the Board of the Green Climate Fund GCF/B.23/Inf.08
Action item
Reports from committees, panels and group of the Board of the Green Climate Fund – Addendum GCF/B.23/Inf.08/Add.01
Action item
Reports from committees, panels and groups of the Board of the Green Climate Fund – Addendum II GCF/B.23/Inf.08/Add.02
Information
Strategic Programming for the Green Climate Fund First Replenishment GCF/B.23/Inf.09
Information
Status of the initial resource mobilization process GCF/B.23/Inf.10
Information
Report on the activities of the Independent Integrity Unit GCF/B.23/Inf.11
Information
Status of the GCF portfolio: Approved projects and fulfilment of conditions GCF/B.23/Inf.12
Information
Updated policy for contributions to the Green Climate Fund GCF/B.23/Inf.13
Information
Mapping of elements related to project or programme eligibility and selection criteria GCF/B.23/Inf.14
Information
Annotations to the provisional agenda GCF/B.23/Inf.15
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 twenty-second meeting of the Board
4 Board decisions proposed between the twenty-second and twenty-third meetings of the Board
5 Report on the activities of the Secretariat
6 Reports from Board committees, panels and groups
7 Reports from the independent units
8 Report on the activities of the Co-Chairs
8.a Co-Chairs’ report, including the updated workplan of the Board for 2019
8.b Co-Chairs consultations: decision-making in the event that all efforts at reaching consensus have been exhausted
8.c Co-Chairs consultations: guidelines on decisions without a Board meeting
9 Eighth GCF report to the Conference of the Parties to the United Nations Framework Convention on Climate Change
10 Performance evaluation of the Heads of the Independent Units
11 Performance review of the GCF
12 Matters related to the first formal replenishment of the GCF
12.a Report from the replenishment process
12.b Period of the first replenishment
12.c Update to the policies for contributions, standard provisions and template contributions agreement for the first replenishment period of the GCF
12.d Strategic programming document outlining scenarios for the GCF replenishment
13 Policy on ethics and conflicts of interest for active observers
14 Updated Gender Policy and Action Plan
15 Updated accreditation framework
16 Review of the initial investment framework
16.a Matters related to developing incremental and full cost methodology and policies on co-financing and concessionality
16.b Policy guidelines on programmatic approach
16.c Mapping of elements related to project and programme eligibility and selection criteria
17 Matters related to GCF support to adaptation
18 Review of the initial modalities for the Private Sector Facility
19 Status of GCF resources and portfolio performance
20 Consideration of funding proposals
21 Consideration of accreditation proposals
22 Risk management framework
22.a Compliance risk policy
23 Integrity policies
23.a Standards for the implementation of the Anti-Money Laundering and Countering the Financing of Terrorism Policy
23.b Updated Policy on the Protection from Sexual Exploitation, Sexual Abuse and Sexual Harassment
23.c Cost implications of the implementation of the interim Policy on the Protection from Sexual Exploitation, Sexual Abuse and Sexual Harassment
24 Dates and venues of upcoming meetings of the Board
25 Other matters
26 Report of the meeting
27 Close of the meeting

The Board, having considered document GCF/B.23/07 titled “Audited financial statements of the Green Climate Fund for the year ended 31 December 2018”:

Approves the audited financial statements of the Green Climate Fund for the year ended 31 December 2018 as contained in annex I.

The Board, having considered document GCF/B.23/21/Add.01/Rev.01 titled “Report on the activities of the Co-Chairs – Addendum I: Updated workplan of the Board for 2019” and document GCF/B.23/21/Add.02 titled “Report on the activities of the Co-Chairs – Addendum II: Approach to developing the environmental and social safeguards of GCF”:

  1. Takes note of the updated Board workplan for 2019, as set out in annex II;
  2. Decides to defer consideration of the Evaluation Policy of the GCF to its twenty-fourth meeting;
  3. Also 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 its twenty-fifth meeting:
    1. Initial analysis of options to minimize the effects of currency fluctuations on the commitment authority of GCF requested pursuant to decision B.21/14, paragraph (j); and
    2. Review of the effectiveness of the committees, panels and group established by the Board requested pursuant to decision B.20/04, paragraph (b);
  4. Further decides to delegate the following matter to the Secretariat with the proviso to bring any recommendations requiring Board attention back to the Board:
    1. Reviewed administrative guidelines on procurement requested pursuant to decision B.08/21, decision B.12/39, paragraph (a), and decision B.17/01, paragraph (c);
  5. Requests the Secretariat to conduct further consultations with active observers and accredited observer organizations in relation to the comprehensive review of the participation of observers in the activities of the Board, with a view to identifying existing gaps and needed improvements, and to presenting a report with recommendations on the outcomes of the review for consideration by the Board when the matter is considered;
  6. Takes note of the proposed approach and options for developing the GCF environmental and social safeguards contained in the annex to document GCF/B.23/21/Add.02;
  7. Requests the Secretariat to proceed with the development of the GCF environmental and social safeguards, based on the approach presented in the annex to document GCF/B.23/21/Add.02, section 4.1, titled “GCF interim environmental and social safeguards with revisions and enhancements”;
  8. Approves a budget of USD 399, 200 for the development of the GCF environmental and social safeguards. This amount will be added to the Secretariat’s administrative budget; and
  9. Further requests the Secretariat to present the GCF environmental and social safeguards for the Board’s consideration at its second meeting in 2021.

The Board, having considered document GCF/B.23/09 titled “Co-Chairs consultations: decision-making in the event that all efforts at reaching consensus have been exhausted”:

  1. Adopts the procedures for adopting decisions in the event that all efforts at reaching consensus have been exhausted as set out in annex III;
  2. Confirms that the procedures for adopting decisions in the event that all efforts at reaching consensus have been exhausted shall only be used as a last resort;
  3. Requests the Co-Chairs to continue to enhance the effectiveness of pre-Board meeting consultations in an open, inclusive, consultative and transparent matter; and
  4. Also requests the Co-Chairs to consult and present to the Board for its consideration, not later than the twenty-fourth meeting of the Board, a proposal regarding the next steps in the event that during the application of the procedure referred to in section VI of annex III, any Board member expresses the view that they are unable to join consensus regarding the outcome of such procedure.

The Board, having considered document GCF/B.23/10 titled “Eighth Report of the Green Climate Fund to the Conference of the Parties to the United Nations Framework Convention on Climate Change”:

Requests the Co‐Chairs, assisted by the Secretariat, to finalize the “Eighth Report of the Green Climate Fund to the Conference of the Parties to the United Nations Framework Convention on Climate Change”, presented in annex II to document GCF/B.23/10, taking into consideration the comments made and decisions taken at the twenty-third 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-fifth session of the Conference of the Parties, in accordance with decision 7/CP.20, paragraph 23.

The Board, having considered the document titled “Report of the Performance Oversight Committee of the Heads of Independent Units to the Board”:

  1. Takes note of the report of the Performance Oversight Committee as contained in annex IV;
  2. Decides, based on the recommendations by the Performance Oversight Committee, to convey its intention to offer reappointment to the Heads of the following Independent Units:
    1. Independent Integrity Unit;
    2. Independent Evaluation Unit; and
    3. Independent Redress Mechanism Unit;
  3. Requests the Co-Chairs to conduct the necessary work to make sure that all Heads of Independent Units will be in post, including negotiating the terms of the contract for the reappointed Heads of Independent Units, in accordance with the approved detailed terms of reference for Heads of Independent Units (annex VI to document GCF/B.22/21), in prior consultation with the Budget Committee, and signing, on behalf of the GCF, the new employment contract between the said Heads of Independent Units and the GCF;
  4. Also requests the Performance Oversight Committee to consider, in close consultation with the GCF Secretariat and the Budget Committee, a policy related to the performance-based increment increases in payment for the Heads of Independent Units and submit it to the Board for its consideration;
  5. Further requests the Performance Oversight Committee to consider the development of the annual performance evaluation of the three Heads of Unit and the Executive Director, in line with the relevant decisions and guidelines including annex X to the approved decision B.17/12 titled “Performance criteria and measurement procedures of the Executive Director of the Green Climate Fund Secretariat”, and to submit the same to the Board for its consideration; and
  6. Decides that the Performance Oversight Committee will engage an independent external human resources firm for the purpose of the following tasks, in consultation with the Budget Committee, following a procurement process in accordance with the Administrative Guidelines on Procurement and supported by the Secretariat:
    1. Assisting the Co-Chairs in negotiating and concluding the terms of contract with the reappointed Heads of Independent Units;
    2. Assisting the Performance Oversight Committee in developing and carrying out the annual regular performance evaluation of the Heads of Independent Units and the Executive Director; and
    3. Assisting the Performance Oversight Committee in developing the policy related to the introduction of performance-based pay increase as referred to in paragraph 4 above, if need arises.

The Board, having considered document GCF/B.23/20 titled “Forward-Looking Performance Review of the GCF”:

  1. Takes note of the first review of the performance of the GCF by the Independent Evaluation Unit as requested in decision B.21/17;
  2. Also takes note of the findings and recommendations presented in the final report of the Forward-Looking Performance Review of the GCF;
  3. Requests the Secretariat to provide a management response to the Forward-Looking Performance Review of the GCF to the Board at its twenty-fourth meeting; and
  4. Decides to continue its consideration of this matter at the twenty-fourth meeting of the Board.

The Board, having considered document GCF/B.23/03 titled “Period of the first replenishment of the GCF”:

  1. Decides that the first replenishment of the GCF would secure financing for a four-year programming period from 1 January 2020 to 31 December 2023; and
  2. Requests the Secretariat to incorporate the four-year replenishment period in the update to the policies for contributions for the first replenishment of the GCF.

The Board, having considered document GCF/B.23/11 titled “Policy on ethics and conflicts of interest for active observers of the Green Climate Fund”:

  1. Adopts the Policy on Ethics and Conflicts of Interest for Active Observers of the Green Climate Fund as set out in annex V to this document;
  2. Also decides to amend section III, paragraph 6 of the Policy on Prohibited Practices, adopted by the Board pursuant to decision B.22/19, paragraph (a), to include the definition of “Active Observers” as follows: “Active Observers” has the meaning given to that term in the Rules of Procedure of the Board;
  3. Further decides to amend the definition of “Covered Individual” in section III, paragraph 6(f) of the Policy on Prohibited Practices, adopted by the Board pursuant to decision B.22/19, paragraph (a), and replace it with the following: “Covered Individual” means GCF Personnel, Co-Chairs of the Board, Board and Alternate Members, their Advisers, Board- Appointed Officials, External Members and Active Observers; and
  4. Requests the Secretariat to publish a consolidated version of the Policy on Prohibited Practices taking into account the amendments referred to in paragraphs (b) and (c) above.

The Board:

  1. Takes note of the oral report made by the two Board members entrusted by the Co-Chairs with facilitating the discussions on the updated Gender Policy;
  2. Welcomes the progress made in the consultations on the document;
  3. Requests the Secretariat to present an assessment of implementation considerations, including direct costs and benefits associated with the implementation of the Gender Policy, as well as an assessment of the capacity within the Secretariat, direct access entities and other accredited entities, and national designated authorities/focal points to implement such Policy; and
  4. Also requests the Secretariat to present for consideration of the Board at its twenty-fourth meeting a revised updated Gender Policy and an updated Gender Action Plan, building on the progress made in the consultations on the draft document so far and the assessment of the Secretariat on the implementation considerations, with a view to circulate it to Board members and alternate members with sufficient time for consultations to occur between Board members and alternate members prior to its finalization and publication in accordance with paragraph 21 of the Rules of Procedure of the Board.

The Board, having considered document GCF/B.23/02 titled “Consideration of funding proposals”:

  1. Takes note of the following funding proposals:
    1. Funding proposal 107 titled “Supporting Climate Resilience and Transformational Change in the Agriculture Sector in Bhutan”, by the United Nations Development Programme, as contained in document GCF/B.23/02/Add.01 and Add.14;
    2. Funding proposal 108 titled “Transforming the Indus Basin with Climate Resilient Agriculture and Water Management”, by the Food and Agriculture Organization of the United Nations, as contained in document GCF/B.23/02/Add.02 and Add.14;
    3. Funding proposal 109 titled “Safeguarding rural communities and their physical and economic assets from climate induced disasters in Timor-Leste”, by the United Nations Development Programme, as contained in document GCF/B.23/02/Add.03 and Add.14;
    4. Funding proposal 110 titled “Ecuador REDD-plus RBP for results period 2014”, by the United Nations Development Programme, as contained in document GCF/B.23/02/Add.04 and Add.14;
    5. Funding proposal 111 titled “Promoting climate-resilient forest restoration and silviculture for the sustainability of water-related ecosystem services”, by the InterAmerican Development Bank, as contained in document GCF/B.23/02/Add.05 and Add.14;
    6. Funding proposal 112 titled “Addressing Climate Vulnerability in the Water Sector (ACWA) in the Marshall Islands”, by the United Nations Development Programme, as contained in document GCF/B.23/02/Add.06 and Add.14;
    7. Funding proposal 113 titled “TWENDE: Towards Ending Drought Emergencies: Ecosystem Based Adaptation in Kenya’s Arid and Semi-Arid Rangelands”, by the International Union for Conservation of Nature, as contained in document GCF/B.23/02/Add.07 and Add.14;
    8. Funding proposal 114 titled “Program on Affirmative Finance Action for Women in Africa (AFAWA): Financing Climate Resilient Agricultural Practices in Ghana”, by the African Development Bank, as contained in document GCF/B.23/02/Add.10;
    9. Funding proposal 115 titled “Espejo de Tarapacá”, by MUFG Bank, Ltd., as contained in document GCF/B.23/02/Add.11; and
    10. Simplified approval process (SAP) funding proposal 007 titled “'Integrated Climate Risk Management for Food Security and Livelihoods in Zimbabwe focusing on Masvingo and Rushinga Districts”, by the World Food Programme, as contained in document GCF/B.23/02/Add.12 and Add.14;
  2. Approves funding proposal 107 for the amount of USD 25,347,194, submitted by the United Nations Development Programme, subject to the conditions set out in annex XI and in the respective term sheet set out in document GCF/B.23/02/Add.14;
  3. Also approves funding proposal 108 for the amount of USD 34,990,832, submitted by the Food and Agriculture Organization of the United Nations, subject to the conditions set out in annex XI and in the respective term sheet set out in document GCF/B.23/02/Add.14;
  4. Further approves funding proposal 109 for the amount of USD 22,356,805, submitted by the United Nations Development Programme, subject to the conditions set out in annex XI and in the respective term sheet set out in document GCF/B.23/02/Add.14;
  5. Approves funding proposal 110 for the amount of USD 18,571,766, submitted by the United Nations Development Programme, subject to the conditions set out annex XI and in the respective term sheet set out in document GCF/B.23/02/Add.14;
  6. Also approves funding proposal 111 for the amount of USD 35,000,000, submitted by the Inter-American Development Bank, subject to the conditions set out in annex XI and in the respective term sheet set out in document GCF/B.23/02/Add.14;
  7. Further approves funding proposal 112 for the amount of USD 18,631,216, submitted by the United Nations Development Programme, subject to the conditions set out in annex XI and in the respective term sheet set out in document GCF/B.23/02/Add.14;
  8. Approves funding proposal 113 for the amount of USD 23,152,082, submitted by the International Union for Conservation of Nature, subject to the conditions set out in annex XI and in the respective term sheet set out in document GCF/B.23/02/Add.14;
  9. Also approves funding proposal 114 for the amount of USD 20,000,000, submitted by the African Development Bank, subject to the conditions set out in annex XI and in the respective term sheet set out in document GCF/B.23/02/Add.10; and
    1. Recognizes that there is an opportunity to explore further options to improve the financial structure regarding increasing the grant portion of the GCF funding, to the benefit of the most vulnerable women; and encourages the accredited entity, in consultation with the national designated authority, to consider using the Policy on Restructuring and Cancellation to amend funding proposal 114 accordingly;
  10. Further approves funding proposal 115 for the amount of USD 60,000,000, submitted by MUFG Bank, Ltd., subject to the conditions set out in annex XI and in the respective term sheet set out in document GCF/B.23/02/Add.11;
  11. Approves simplified approval process (SAP) funding proposal 007 for the amount of USD 8,858,316, submitted by the World Food Programme, subject to the conditions set out in annex XI and in the respective term sheet set out in document GCF/B.23/02/Add.14;
  12. 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
  13. Authorizes the Secretariat to disburse fees for each funded project/programme approved by the Board as per the disbursement schedule to be agreed in the funded activity agreement in accordance with the policy on fees and the general principles and indicative list of eligible costs covered under GCF fees and project management costs adopted by the Board pursuant to decision B.19/09.

The Board, having considered document GCF/B.23/05 titled “Updated accreditation framework”:

  1. Decides that the accreditation process as defined in annex I to decision B.07/02 is considered complete upon the effectiveness of the accreditation master agreement in Stage III of the accreditation process, and that such date of effectiveness shall serve as the start of the accreditation term for all entities accredited to GCF, including those accredited prior to the date of this decision;
  2. Recalling decision B.14/08, paragraph (d)(i), decision B.18/04, paragraph (c), decision B.19/13, paragraph (c), and decision B.21/16, paragraph (e), decides that future accreditation decisions by the Board should aim to bring forward accredited entities that fulfil the mandate on balance, diversity and coverage and advance the objectives of GCF, and to that end decides to prioritize up to the end of the twenty-fourth meeting of the Board the following, not listed in order of priority:
    1. National direct access entities nominated for accreditation by national designated authorities or focal points of countries that do not have a national accredited direct access entity;
    2. Private sector entities, in particular those in developing countries, seeking a balance of diversity of entities in line with decision B.09/07, paragraph (g), and decision B.10/06, paragraph (h);
    3. Entities responding to requests for proposals issued by GCF, for example, including a pilot phase for enhancing direct access; a pilot programme to support micro, small, and medium-sized enterprises; and a pilot programme to mobilize resources at scale in order to address adaptation and mitigation;
    4. Accredited entities seeking fulfilment of their conditions for accreditation; and
    5. Accredited entities requesting upgrades in their accreditation scope;
  3. Agrees the principle of the project-specific assessment approach, as contained in section VII in annex II to document GCF/B.23/05, that combines assessments undertaken during the existing accreditation and proposal approval processes in a fit-for-purpose manner; and
  4. Decides to defer its consideration of the updated accreditation framework and the implementation arrangements and budget for the project-specific assessment approach until the twenty-fourth meeting of the Board.

The Board, having considered document GCF/B.23/13 titled “Consideration of restructuring paper for FP015 ‘Tuvalu Coastal Adaptation Project (TCAP)’ – RP1” and its addendum Add.01 titled “Consideration of restructuring paper – Addendum I”:

  1. Takes note of the restructuring paper for FP015 titled “Tuvalu Coastal Adaptation Project (TCAP)”, by the United Nations Development Programme, as contained in document GCF/B.23/13/Add.01;
  2. Approves the major change to FP015 described in the restructuring paper for FP015, subject to the conditions set out in annex VI to this document; and
  3. Reaffirms that, pursuant to the Policy on Restructuring and Cancellation, the Secretariat is authorized to negotiate and execute the amendment to the funded activity agreement for FP015, which shall reflect the major change described in the restructuring paper for FP015 and the list of conditions set out in annex VI to this document.

The Board, having considered document GCF/B.23/04 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 086 (APL086) is the Banco Nacional de Desenvolvimento Econômico e Social (BNDES, the Brazilian Development Bank), based in Brazil, as contained in annex IV of document GCF/B.23/04;
    2. Applicant 087 (APL087) is the Ministry of Water and Environment (MWE) of Uganda, as contained in annex V of document GCF/B.23/04;
    3. Applicant 088 (APL088) is Ecobank Ghana Limited (EGH), based in Ghana, as contained in annex VI of document GCF/B.23/04; and
    4. Applicant 089 (APL089) is Enabel, based in Belgium, as contained in annex VII of document GCF/B.23/04;
  2. Accredits applicants APL086, APL087, APL088 and APL089 pursuant to paragraph 45 of the Governing Instrument for the GCF, and subject to, and in accordance with, the assessments by the Accreditation Panel contained in the relevant annexes for each of the applicants;
  3. Takes note with appreciation of the assessments conducted by the Secretariat and the Accreditation Panel contained within the relevant annexes for the following applicants seeking to upgrade their accreditation type:
    1. Infrastructure Development Company Limited (IDCOL), based in Bangladesh, as contained in annex VIII of document GCF/B.23/04; and
    2. Secretariat of the Pacific Regional Environment Programme (SPREP), based in Samoa, as contained in annex IX of document GCF/B.23/04;
  4. Agrees to upgrade the accreditation type of the Infrastructure Development Company Limited (IDCOL) as contained in decision B.17/05, paragraph (b), subject to, and in accordance with, the assessment by the Accreditation Panel contained in annex VIII of document GCF/B.23/04;
  5. Also agrees to upgrade the accreditation type of Secretariat of the Pacific Regional Environment Programme (SPREP) as contained in decision B.09/07, paragraph (b), subject to, and in accordance with, the assessment by the Accreditation Panel contained in annex IX of document GCF/B.23/04;
  6. Takes note that, pursuant to decision B.08/03, paragraph (k), and that the entity, as contained in paragraph (a)(ii) above and listed in annex VII, was reviewed under the normal track as per the assessment contained in annex V of document GCF/B.23/04, 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 VII; and
  7. Decides that those entities referred to in annex VII are also eligible to apply under the fasttrack accreditation process for the standards of GCF in accordance with decision B.08/03, paragraph (g), for entities under the Adaptation Fund.

The Board, having reviewed document GCF/B.23/06 titled “Risk management framework: compliance risk policy – proposal by the Risk Management Committee”:

Adopts the risk management framework component VIII – compliance risk policy, as set out in annex VIII.

The Board, having considered document GCF/B.23/22 titled “Standards for the Implementation of the Anti-Money Laundering and Countering the Financing of Terrorism Policy”:

  1. Adopts the “Standards for the Implementation of the Anti-Money Laundering and Countering the Financing of Terrorism Policy” contained in annex IX;
  2. Reiterates its request (decision B.14/01, paragraph (f)) for the Accreditation Committee, in consultation with the Head of the Independent Integrity Unit, to consider the best way to integrate the Anti-Money Laundering and Countering the Financing of Terrorism Policy in the interim fiduciary standards and present to the Board a proposal for its consideration in 2019 as a matter of urgency;
  3. Requests the Secretariat and the Independent Integrity Unit to develop standard operating procedures, subject to the approval of the Ethics and Audit Committee, to operationalize these Standards for the Implementation of the Anti-Money Laundering and Countering the Financing of Terrorism Policy and the Anti-Money Laundering and Countering the Financing of Terrorism Policy in 2019 as a matter of urgency; and
  4. Also requests the Secretariat to implement the GCF Anti-Money Laundering and Countering the Financing of Terrorism Policy, the Standards for the Implementation of the Anti-Money Laundering and Countering the Financing of Terrorism Policy, the Policy on Prohibited Practices and other integrity-related matters in a coherent manner while fully respecting the scope and provisions of the respective policies, and further requests the Secretariat to amend the accreditation master agreement template, as approved by the Board in decision B.12/31, to ensure consistency with the scope of the Anti-Money Laundering and Countering the Financing of Terrorism Policy such that clause 9.03(a) reads as follows:

apply its own fiduciary principles and standards relating to any ‘know your customer’ checks, AML/CFT, and financial sanctions imposed by the United Nations Security Council, which should enable it to comply with the Policy on Prohibited Practices and the principles of the AML/CFT Policy.

and that clause 9.03(b) reads as follows:

unless prohibited by law applicable to the Accredited Entity, not use GCF Proceeds or Other GCF Funds for the purposes of any payment to individuals or entities, or for the import of goods, if such payment or import is prohibited by a Decision as may be adopted from time to time by the Board or by a financial sanction of the United Nations Security Council.

The Board, having considered document GCF/B.23/14 titled “Policy on the Prevention and Protection from Sexual Exploitation, Sexual Abuse, and Sexual Harassment”:

  1. Adopts the Policy on the Prevention and Protection from Sexual Exploitation, Sexual Abuse, and Sexual Harassment as set out in annex X to this document (the Policy);
  2. Requests the Accreditation Committee, in consultation with the Head of the Independent Integrity Unit, to consider the best ways to update and amend, as appropriate, the requirements placed on accredited entities in the relevant standards, safeguards and policies of the GCF so as to integrate the obligations set out in this Policy, including, but not limited to, the:
    1. Initial basic fiduciary standards, pursuant to decision B.07/02, paragraph (b);
    2. Environmental and social safeguards, pursuant to decision B.07/02, paragraph (d), and decision B.19/10, paragraph (c), as relevant; and
    3. Gender Policy and Gender Action Plan pursuant to decision B.09/11, paragraphs (a)–(b); and present to the Board for its consideration such updates and amendments no later than the twenty-fourth meeting of the Board as a matter of urgency;
  3. Also requests the Secretariat, in consultation with the Head of the Independent Integrity Unit, to establish rules and procedures, as appropriate, in accordance with, and for the purpose of implementing, the Policy, and report to the Board on the actions no later than the twenty-fourth meeting of the Board;
  4. Further requests the Secretariat to assess the cost implications of the implementation of this Policy and submit to the Budget Committee a budget request for its consideration as required;
  5. Requests the Independent Integrity Unit to provide a report on experiences and lessons learned to the Board one year after the entry into effect of this Policy, which may include recommendations for how to improve the Policy and its implementation; and
  6. Also requests the Secretariat to report annually to the Board on the implementation of this Policy.

The Board, having considered limited distribution document GCF/B.23/15 titled “Cost implications of the implementation of the Interim Policy on the Protection from Sexual Exploitation, Sexual Abuse, and Sexual Harassment”:

  1. Approves the total budget of USD 90,000 for the year 2019 for the implementation of the Interim Policy on the Protection from Sexual Exploitation, Sexual Abuse and Sexual Harassment as set out in table 1 of document GCF/B.23/15; and
  2. Notes the limited experience of GCF in handling such cases and that the budgets provided are estimates. Therefore, both the Secretariat and the Independent Integrity Unit will need to monitor these budgets constantly to ensure that the policy continues to be enforced at the expected level.

The Board, having considered document GCF/B.23/08 titled “Dates and venues of upcoming meetings of the Board”:

  1. Decides that the twenty-fourth meeting of the Board will take place from Tuesday, 12 November to Thursday, 14 November 2019 in Songdo, Incheon, Republic of Korea;
  2. Also decides that the twenty-fifth meeting of the Board will take place from Tuesday, 10 March to Thursday, 12 March 2020 in Songdo, Incheon, Republic of Korea;
  3. Further decides that the twenty-sixth meeting of the Board will take place from Tuesday, 23 June to Thursday, 25 June 2020 in Songdo, Incheon, Republic of Korea;
  4. Decides that the twenty-seventh meeting of the Board will take place from Thursday, 22 October to Saturday, 24 October 2020;
  5. Requests the Secretariat to present the following for consideration by the Board at its twenty-fifth meeting:
    1. A cost-benefit analysis for Board meetings held outside of the GCF Headquarters, including non-cost elements; and
    2. Options for engaging with stakeholders and understanding the realities experienced in developing countries.
Item Title Timestamp File
1 Opening of the meeting 06 Jul 2019
09:21
- 09:25
2 Adoption of the agenda and organization of work 06 Jul 2019
09:24
- 09:25
3 Adoption of the report of the twenty-second meeting of the Board 06 Jul 2019
09:25
- 09:26
4 Board decisions proposed between the twenty-second and twenty-third meetings of the Board 06 Jul 2019
09:27
- 09:29
5 Report on the activities of the Secretariat 06 Jul 2019
09:29
- 10:03
6 Reports from Board committees, panels and groups 06 Jul 2019
10:03
- 10:04
7 Reports from the independent units 06 Jul 2019
10:04
- 10:05
8A Co-Chairs’ report, including the updated workplan of the Board for 2019 [part 1] 06 Jul 2019
10:05
- 10:42
8A Co-Chairs’ report, including the updated workplan of the Board for 2019 [part 2] 08 Jul 2019
16:57
- 17:10
8B Co-Chairs consultations: decision-making in the event that all efforts at reaching consensus have been exhausted [part 1] 07 Jul 2019
15:29
- 15:33
8B Co-Chairs consultations: decision-making in the event that all efforts at reaching consensus have been exhausted [part 2] 07 Jul 2019
16:27
- 18:23
8B Co-Chairs consultations: decision-making in the event that all efforts at reaching consensus have been exhausted [part 3] 07 Jul 2019
18:50
- 18:54
8B Co-Chairs consultations: decision-making in the event that all efforts at reaching consensus have been exhausted [part 4] 08 Jul 2019
12:57
- 13:08
8B Co-Chairs consultations: decision-making in the event that all efforts at reaching consensus have been exhausted [part 5] 08 Jul 2019
18:36
- 19:34
8B Co-Chairs consultations: decision-making in the event that all efforts at reaching consensus have been exhausted [part 6] 09 Jul 2019
02:56
- 03:18
8C Co-Chairs consultations: guidelines on decisions without a Board meeting 06 Jul 2019
11:15
- 11:32
9 Eighth GCF report to the Conference of the Parties to the United Nations Framework Convention on Climate Change 06 Jul 2019
11:31
- 11:43
11 Performance review of the GCF 08 Jul 2019
09:55
- 11:27
12A Report from the replenishment process 06 Jul 2019
11:43
- 12:51
12B Period of the first replenishment 08 Jul 2019
11:27
- 11:30
12D Strategic programming document outlining scenarios for the GCF replenishment 06 Jul 2019
16:31
- 17:54
13 Policy on ethics and conflicts of interest for active observers [part 1] 08 Jul 2019
11:30
- 11:54
13 Policy on ethics and conflicts of interest for active observers [part 2] 08 Jul 2019
16:18
- 16:26
14 Updated Gender Policy and Action Plan 08 Jul 2019
11:56
- 12:03
15 Updated accreditation framework 08 Jul 2019
12:03
- 12:57
15 Updated accreditation framework [part 2] 08 Jul 2019
20:40
- 21:14
15 Updated accreditation framework [part 3] 08 Jul 2019
21:36
- 21:39
15 Updated accreditation framework [part 4] 08 Jul 2019
22:44
- 22:48
18 Review of the initial modalities for the Private Sector Facility 08 Jul 2019
17:13
- 17:55
19 Status of GCF resources and portfolio performance 07 Jul 2019
09:18
- 09:50
20 Consideration of funding proposals [part 1] 07 Jul 2019
09:51
- 11:13
20 Consideration of funding proposals [part 2] 07 Jul 2019
11:50
- 14:12
20 Consideration of funding proposals [part 3] 07 Jul 2019
15:52
- 16:27
20 Consideration of funding proposals [part 4] 08 Jul 2019
09:38
- 09:55
21 Consideration of accreditation proposals 07 Jul 2019
15:33
- 15:51
22A Compliance risk policy 08 Jul 2019
18:27
- 18:35
23A Standards for the implementation of the Anti-Money Laundering and Countering the Financing of Terrorism Policy [part 1] 08 Jul 2019
14:44
- 14:59
23A Standards for the implementation of the Anti-Money Laundering and Countering the Financing of Terrorism Policy [part 2] 08 Jul 2019
17:53
- 18:28
23B Updated Policy on the Protection from Sexual Exploitation, Sexual Abuse and Sexual Harassment 08 Jul 2019
14:59
- 15:07
23C Cost implications of the implementation of the interim Policy on the Protection from Sexual Exploitation, Sexual Abuse and Sexual Harassment 08 Jul 2019
15:07
- 15:16
24 Dates and venues of upcoming meetings of the Board 08 Jul 2019
16:26
- 16:56
25 Other matters 09 Jul 2019
03:15
- 03:15
26 Report of the meeting 09 Jul 2019
03:15
- 03:15
27 Close of the meeting 09 Jul 2019
03:15
- 03:15
SAP007
Adaptation

Zimbabwe

Integrated Climate Risk Management for Food Security and Livelihoods in Zimbabwe focusing on Masvingo and Rushinga Districts

FP115
Cross-cutting

Chile

Espejo de Tarapacá

FP114
Cross-cutting

Ghana

Program on Affirmative Finance Action for Women in Africa (AFAWA): Financing Climate Resilient Agricultural Practices in Ghana

FP113
Adaptation

Kenya

TWENDE: Towards Ending Drought Emergencies: Ecosystem Based Adaptation in Kenya’s Arid and Semi-Arid Rangelands

FP112
Adaptation

Marshall Islands

Addressing Climate Vulnerability in the Water Sector (ACWA) in the Marshall Islands

FP111
Cross-cutting

Honduras

Promoting climate-resilient forest restoration and silviculture for the sustainability of water-related ecosystem services

FP110
Mitigation

Ecuador

Ecuador REDD-plus RBP for results period 2014

FP109
Adaptation

Timor-Leste

Safeguarding rural communities and their physical and economic assets from climate induced disasters in Timor-Leste

FP108
Adaptation

Pakistan

Transforming the Indus Basin with Climate Resilient Agriculture and Water Management

FP107
Adaptation

Bhutan

Supporting Climate Resilience and Transformational Change in the Agriculture Sector in Bhutan