This report presents the findings and recommendations of the Independent Evaluation of the Relevance and Effectiveness of the Green Climate Fund’s investments in Small Island Developing States. The Independent Evaluation Unit of the GCF conducted this evaluation as part of its 2020 Work Plan, which was approved by the GCF Board at its twenty-fourth meeting (B.24) in October 2019 (document GCF/B.24/12/Rev.01).