B.07/09: Confirmation of the completion of the essential requirements and the commencement of the initial resource mobilization process

The Board, having reviewed document GCF/B.07/09 Confirmation of the Completion of the Essential Requirements and the Commencement of the Initial Resource Mobilization Process:

  1. Decides that the eight essential requirements for the Fund to receive, manage, programme and disburse financial resources, as listed in Annex XXII of the decision B.05/17, have been met;
  2. Takes note that the policies, frameworks and procedures of the Fund are evolving and may need to be further enhanced;
  3. Decides to commence the process to mobilize resources commensurate with the Fund’s ambition to promote the paradigm shift towards low-emission and climate-resilient development pathways by providing support to developing countries to limit or reduce their greenhouse gas emissions and to adapt to the impacts of climate change;
  4. Requests the Secretariat to make arrangements with all interested contributors, facilitating a collective engagement in the initial resource mobilization process as agreed in decision B.05/17;
  5. Stresses the urgency to reach pledges by November 2014, while noting that the initial resource mobilization process may need to continue beyond this date;
  6. Endorses the arrangements for a collective engagement in the initial resource mobilization process, as contained in Annex XVII;
  7. Decides that the Board will consider the policies for contributions based on recommendations from the first meeting of interested contributors;
  8. Requests the Interim Trustee to provide support, as part of its function to administer the Green Climate Fund Trust Fund, to the Secretariat on:
    1. The preparation of a template for legal arrangements for contributions to the Fund for consideration by the Board;
    2. Other relevant financial management issues as agreed between the Secretariat and Interim Trustee;
  9. Authorizes the Executive Director to confirm with the Interim Trustee the scope of Interim Trustee support, as referred to in paragraph (h).