The Board, having reviewed document GCF/B.45/19/Rev.01 titled “Arrangements for the third replenishment of the Green Climate Fund” and taking into account decision B.44/17 as well as guidance from the Conference of Parties to the United Nations Framework Convention on Climate Change:
- Affirms that the replenishment process will be conducted in line with the principles and provisions of the United Nations Framework Convention on Climate Change and the Paris Agreement;
- Stresses decision B.21/18, paragraph (c), reaffirmed through decision B.33/11, paragraph (a), which states that the replenishments of the Fund should take into account the stated ambitions, actions and contributions of developing countries to reduce their greenhouse gas emissions by meaningful mitigation actions and to adapt to the impacts of climate change, and that the Board will provide the replenishment process with strategic guidance;
- Recalls paragraph 3(e) of the “Updated Policy for contributions to the Green Climate Fund for the second replenishment”, which states that “GCF will initiate the next replenishment 30 months after the commencement of GCF-2 in order to allow sufficient time for the preparation and consideration of such reports and/or evaluations as may be necessary”;
- Also recalls decision B.44/17, by which the Board took note of the process to adopt updated Strategic Plan for GCF 2028 – 2031 no later than the second Board meeting in 2027 and requested the Co-Chairs to prepare a draft decision for the Board to launch the replenishment process;
- Decides to commence the process for the GCF’s third replenishment from July 2026;
- Also decides that the period of the third replenishment will be from 1 January 2028 to 31 December 2031;
- Further decides that replenishment meetings will be open to all potential contributors and to all Board members, as set out in annex II to document GCF/B.45/19/Rev.01, and will be supported by inclusive and targeted engagement approaches to facilitate participation;
- Endorses the process of collective engagement for the third replenishment process set out in annex II to document GCF/B.45/19/Rev.01, aimed at supporting an inclusive and effective replenishment;
- Requests the Secretariat to begin making arrangements to facilitate the process of collective engagement referred to in paragraph (h) above, including finding hosts for the in-person replenishment meetings;
- Also requests the Trustee to provide support to the Secretariat, as part of its function to administer the GCF Trust Fund, on issues related to:
- Updating the standard provisions and template for contribution agreements and/or arrangements; and
- Other relevant financial management issues as agreed between the Executive Director of the Green Climate Fund Secretariat and the Trustee;
- Further requests the Co-Chairs, in consultation with the Board and with the support of the Secretariat, to identify and appoint, if needed, a suitable chairperson(s)/facilitator with climate finance experience for the third replenishment process;
- Requests the Secretariat to prepare for consideration (1) a draft updated policy for contributions for the third replenishment period of GCF; (2) a separate draft policy for contributions from other sources not covered in the updated policy for contributions for the third replenishment period of GCF; and (3) any other documents that may be required to support the objectives of the GCF’s replenishment period, including those referred to in paragraph 3(a) in annex II to document GCF/B.45/19/Rev.01; and
- Decides to conclude its consideration of (1) the updated policy for contributions for the third replenishment period of GCF; and (2) the separate policy for contributions from other sources not covered in the updated policy for contributions for the third replenishment period of GCF, by no later than the forty-seventh meeting of the Board in 2027.