This document contains the twelfth annual report of the Green Climate Fund to the Conference of the Parties to the United Nations Framework Convention on Climate Change (UNFCCC). The Board may wish to request the Co‐Chairs, assisted by the Secretariat, to finalize the report, taking into consideration the comments made and decisions taken at the thirty‐sixth meeting of the Board, and submit the revised report to the UNFCCC secretariat, no later than 12 weeks prior to the twenty‐eighth session of the Conference of the Parties to the UNFCCC, in accordance with UNFCCC decision 7/CP.20, paragraph 23.