B.10/06: Consideration of accreditation proposals

The Board, having considered document GCF/B.10/03 Consideration of Accreditation Proposals and after further exchange with the Accreditation Panel (AP):

  1. Takes note with appreciation of the in-depth assessment conducted by the AP contained within the relevant annexes for the following applicants:
    1. Applicant 008 (APL008) is the Environmental Investment Fund of Namibia (EIF), as contained in Annex VIII;
    2. Applicant 009 (APL009) is the Ministry of Natural Resources of Rwanda (MINIRENA), as contained in Annex IX;
    3. Applicant 010 (APL010) is the National Bank for Agriculture and Rural Development (NABARD), as contained in Annex X;
    4. Applicant 011 (APL011) is the Corporación Andina de Fomento (CAF), as contained in Annex XI;
    5. Applicant 012 (APL012) is the Caribbean Community Climate Change Centre (CCCCC), as contained in Annex XII;
    6. Applicant 013 (APL013) is the Africa Finance Corporation (AFC), as contained in Annex XIII;
    7. Applicant 014 (APL014) is Deutsche Bank AktienGesellschaft (Deutsche Bank AG), as contained in Annex XIV;
    8. Applicant 015 (APL015) is the Agence Française de Développement (AFD), as contained in Annex XV;
    9. Applicant 016 (APL016) is the Conservation International Foundation (CI), as contained in Annex XVI;
    10. Applicant 017 (APL017) is the European Bank for Reconstruction and Development (EBRD), as contained in Annex XVII;
    11. Applicant 018 (APL018) is the Inter-American Development Bank (IDB), as contained in Annex XVIII;
    12. Applicant 019 (APL019) is the United Nations Environment Programme (UNEP), as contained in Annex XIX; and
    13. Applicant 020 (APL020) is the International Bank for Reconstruction and Development (IBRD) and International Development Association (IDA) (together as “World Bank”, as contained in Annex XX;
  2. Also takes note that the Board exercised its discretion and best judgement in reliance on the information furnished by the AP;
  3. Accredits APL008, APL009, APL010, APL011, APL012, APL013, APL014, APL015, APL016, APL017, APL018, APL019 and APL020 pursuant to paragraph 45 of the Governing Instrument for the Green Climate Fund (the Fund), and subject to, and in accordance with, the assessment, including any conditions and recommendations, by the AP as contained in the relevant annexes for each of the applicant entities and reiterated in Annex XXII;
  4. Decides that the Board shall continue to exercise its discretion and best judgement in future accreditation decisions;
  5. Requests the Secretariat to track and report on the fulfilment of conditions of accreditation on a regular basis;
  6. Takes note that, pursuant to decision B.08/03, paragraph (k), the Secretariat in consultation with the AP, is proposing that the eligibility to apply under the fast-track accreditation process be extended to those entities listed in Annex XXI;
  7. Decides that those entities referred to in Annex XXI are also eligible to apply under the fast- track accreditation process for the Fund’s standards in accordance with decision B.08/03, paragraph (e), for Global Environment Facility agencies, 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 Development and Cooperation – EuropeAid of the European Commission;
  8. Also decides that, recalling decision B.06/06 and pursuant to decision B.09/07, paragraph (g), the Secretariat will actively support applications for accreditation received from subnational, national and regional public and private sector entities in order to ensure a balance of diversity, including between entities under the direct access and international access modalities, in the list of entities being considered for accreditation by the Board;
  9. Further decides that, recalling decision B.08/03, all international entities, as an important consideration of their accreditation application, shall indicate how they intend to strengthen capacities of, or otherwise support, potential subnational, national and regional entities to meet, at the earliest opportunity, the accreditation requirements of the Fund in order to enhance country ownership and that they report annually on these actions;
  10. Reaffirms that information on how the entity will contribute to the mandate of the Fund and any information considered material, particularly information with potential reputational risks to the Fund, shall be provided in the recommendation of the AP to the Board;
  11. Requests the Secretariat, as part of the information disclosure policy to be considered by the Board at its eleventh meeting, in consultation with relevant stakeholders, to develop a proposal to increase the transparency of the accreditation process, including the modalities for the disclosure of the names of applicant entities and/or those recommended by the AP to the Board for accreditation;
  12. Decides that, recalling decision B.09/08, the accreditation master agreement, to be signed between the Fund and each accredited entity, shall define the relationship between the Fund and the entity, including the roles of each and how each will carry out its responsibilities, under those arrangements, with regard to the extent and scope of its accreditation;
  13. Requests the Secretariat to address through the accreditation master agreement or other relevant documents, including the risk management framework, any conflict of interest, potential conflict of interest and reputational risks which may arise from the relationship between the Fund and its accredited entities reflecting generally accepted international standards;
  14. Also requests the Secretariat to present relevant policies addressing fraud, corruption and other prohibited practices, and policies addressing anti-money laundering and countering the financing of terrorism issues, taking into account relevant Board decisions and international best practices and standards for inclusion in the Fund’s fiduciary principles and standards adopted in decision B.07/02, for consideration by the Board no later than its eleventh meeting;
  15. Authorizes the Executive Director to recruit a fiduciary compliance specialist with anti- money laundering and countering financing of terrorism skills;
  16. Decides that, in accordance with the disclosure policies of the Fund:
    1. The Secretariat will submit a document on the consideration of accreditation proposals, including the AP’s assessment and recommendations on accreditation and names of the entities, to the Board at least 21 days before the start of the Board meeting;
    2. Board members may provide questions about the entities being recommended for accreditation, in writing, to the Secretariat within one week of the AP’s recommendations being circulated to the Board;
    3. The Secretariat shall compile questions provided by the Board, and circulate the compilation of questions, verbatim, to the AP and all Board members; and
    4. The AP shall respond to all questions and provide a compilation of those responses to the Board at the latest one week before the Board meeting. The AP will have sole authority to decide whether or not to make changes to its recommendation in response to feedback from the Board.
  17. Also decides to revise the membership of the Accreditation Committee, as contained in Annex IV to decision B.07/02, to comprise:
    1. Three Board members or alternate members from developing country Parties; and
    2. Three Board members or alternate members from developed country Parties; and
  18. Requests the Accreditation Committee with the support of the Secretariat to work on a strategy on accreditation for consideration by the Board at its eleventh meeting. The report should examine issues including efficiency, fairness and transparency of the accreditation process, as well as the extent to which current and future accredited entities enable the Fund to fulfil its mandate.