Boardroom
GCF embodies equitable governance to respond to the global challenge of climate change, one that ensures consensus-based decisions between developed and developing countries.Board decisions
Most decisions are adopted by the GCF Board during its regular meetings, with a few being adopted in between sessions. These decisions are listed on this section, as well as in the various Board meeting pages. Policies and strategies adopted by some of these decisions are extracted and mapped in our policies and stategies page.
The Board
Approved the Guidelines relating to the observer participation, accreditation of observer organizations and participation of active observers set out in the Annex XII to this report.
The Board, having reviewed the Draft Headquarters Agreement,
- Took note of the Draft Headquarters Agreement between the Republic of Korea and the Green Climate Fund;
- Requested the Interim Secretariat, under the guidance of the Co-Chairs, to finalize the Draft Headquarters Agreement between the Republic of Korea and the Green Climate Fund in consultation with the Government of the Republic of Korea;
- Authorized its Co-Chairs to sign, on behalf of the Fund, the Headquarters Agreement between the Republic of Korea and the Green Climate Fund;
- Further authorized the Executive Director, once appointed, to sign, after consultation with the Co-Chairs, on behalf of the Fund, supplementary agreements with the relevant authorities of the Republic of Korea as identified in the Headquarters Agreement between the Republic of Korea and the Green Climate Fund;
- Authorized the Co-Chairs to sign, on behalf of the Fund, supplementary agreements with the relevant authorities of the Republic of Korea as identified in the Headquarters Agreement between the Republic of Korea and the Green Climate Fund.
The Board, having reviewed document GCF/B.01-13/06 Green Climate Fund Communication and External Representation,
- Approved the scope of further work on communication outlined in Annex XIII to this document;
- Requested members and alternate members of the Board to provide inputs by 15 March 2013 for the finalization of the communication products included in Annex III of document GCF/B.01-13/06 by the Interim Secretariat under the guidance of the Co-Chairs;
- Requested the Interim Secretariat to prepare a concept note on the development of a communication strategy for the Fund, based on guidance provided by the Board, for consideration at the June 2013 Board; and to provide a draft communication strategy for the consideration of the Board at its September 2013 meeting;
- Took note of the guidance on representation at external events outlined in Annex V of document GCF/B.01-13/06;
- Decided that financial sponsorship of events should initially be discouraged, and appropriate and relevant requests for partnership in external events, with no associated financial commitment, should be considered by the Board on a no-objection basis;
- Decided that the approach to Fund’s representation at future meetings of the Technology Executive Committee and on the Advisory Board of the Climate Technology Centre and Network is interim, pending the development of a broader Fund strategy on engagement with UNFCCC and external bodies;
- Decided that the selection of a Board representative in response to the ad hoc requests for Board’s representation at future meetings of the Technology Executive Committee be guided by paragraph 8 of Annex IV to this report (Additional Rules of Procedure relating to the Co-Chairs);
- Decided that the selection of a Board representative on the Advisory Board of the Climate Technology Centre and Network be undertaken intersessionally, once further clarity on the role, expectations and time commitment is provided by UNEP.
The Board, having reviewed document GCF/B.01-13/11 Business model framework of the Green Climate Fund:
- Took note of, and welcomed, the work of the business model framework team, comprised of six Board members/alternate members, formed at its second meeting under decision B.02-12/03, in the preparation of the detailed terms of reference for a consultancy on the business model framework of the Green Climate Fund, as contained in the Annex of document GCF/B.01-13/11;
- Noted that the following areas of convergence on the business model framework of the Fund are consistent with the Governing Instrument, namely that the Fund will be ambitious, flexible and scalable, have a country-driven and owned approach, employ direct access and other access modalities, and leverage additional public and private resources through the operational modalities of the Fund, including through the private sector facility;
- Further noted convergence that the Fund should also:
- Recognize that a country driven approach is a core principle to build the business model of the Fund;
- Commence as a fund that operates through accredited national, regional and international intermediaries and implementing entities;
- Focus initially on grants and concessional lending, and employ additional financial instruments as necessary to effectively achieve the objectives of the Fund;
- Enhance transparency and accountability;
- Decided that the areas of the business model framework set out in Annex XIV to this report should be the focus of further analysis and work to develop options for consideration by the Board at its June 2013 meeting;
- Decided that the areas of the business model framework set out in Annex XV to this report should be the focus of further analysis and work to develop options for consideration by the Board at its September 2013 meeting;
- Requested the Interim Secretariat, under the guidance of the Co-Chairs, to draw from, and build on, the work on the terms of reference for a consultancy on the business model framework of the Green Climate Fund to develop the parameters for the work set out in Annexes XIV and XV to this report;
- Requested the Co-Chairs to work with the Interim Secretariat to ensure that there is overall coherence within the development of the business model framework work, as well as coherence between the business model framework work and the broader work plan of the Board;
- Requested thereafter that the business model framework team provides guidance on the work set out in Annexes XIV and XV to this report and coherence, and report to the Board at its June and September 2013 meetings;
- Requested the Interim Secretariat to undertake the work set out in Annexes XIV and XV to this report with the assistance of consultants, and reflect upon the views expressed at the March 2013 Board meeting and in submissions on the business model framework by the members and alternate members of the Board and observers;
- Decided to authorize the Interim Secretariat, if necessary, to organize one or several meeting/s of the business model framework team to review the Board documents, under the guidance of the Co-Chairs, prior to the June and September 2013 Board meetings;
- Decided to authorize the Interim Secretariat to organize an informal discussion on the business model framework documents one day prior to the June and September 2013 Board meetings;
- Acknowledged that an amount of US$ 600,000 from the administrative budget of the Fund for the period from 1 November 2012 to 31 December 2013, as amended in this decision, may be used for the completion of the work set out in Annexes XIV and XV to this report;
- Requested the Interim Secretariat, under the guidance of the Co-Chairs, to ensure that expenditure under this decision is efficient and cost-effective and to seek the Co-Chairs’ approval if there is a requirement to exceed the amount of US$ 600,000, noting the Co-Chairs may approve a larger allocation of funding for this work, provided that it can be accommodated within the administrative budget of the Fund for the period from 1 November 2012 to 31 December 2013, as amended in this decision;
- Approved the administrative budget for the Fund for the period from 1 November 2012 to 31 December 2013, as adopted in decision B.02-12/06 for the Interim Secretariat, and specifically the amount allocated for consultancies, be increased by US$ 150,000;
- Invited contributions to the Green Climate Fund Trust Fund; and
- Authorized the Interim Trustee to make additional cash transfers of US$ 150,000 from the Green Climate Fund Trust Fund to the UNFCCC secretariat for the Interim Secretariat for this purpose, subject to available resources in the Green Climate Fund Trust Fund, as determined by the Interim Trustee.
The Board, having considered document GCF/B.01-13/05 Progress Report of the Executive
Director Selection Committee,
- Approved the terms of reference, including the job description and qualifications, for the Executive Director set out in Annex XVI to this report;
- Authorized the Interim Secretariat to advertise the vacancy announcement.
The Board, having reviewed document GCF/B.01-13/04 Administrative Policies of the Independent Secretariat,
- Requested the Interim Secretariat to further explore the feasibility of the options presented in document GCF/B.01-13/04, including a United Nations common system, a multilateral development bank system and a United Nations common system – multilateral development bank system hybrid option based on the International Fund for Agricultural Development and the Asian Development Bank, in its further work on preparing the administrative policies of the independent Secretariat and prepare a working document for an intersessional decision by the Board on a no-objection basis;
- Decided that, upon an intersessional agreement of the Board, all necessary documents to this effect will be commissioned during the course of the next months and be ready for consideration by the Board at its next meetings in line with the timetable set out in Annex XVII to this report to ensure the transition from the Interim Secretariat to the independent Secretariat by December 2013;
- Decided that, should the Board not agree intersessionally to an option for the administrative policies of the independent Secretariat, the matter be brought forward to the Board for consideration at its June 2013 meeting.
The Board, having reviewed document GCF/B.01-13/07 Resource mobilization for the Green Climate Fund,
Approved the scope of further work set out in Annex XVIII to this report.
The Board, having reviewed document GCF/B.01-13/08 Modalities for Readiness and Preparatory Support,
- Adopted the scope of further work on the modalities for readiness and preparatory support set out in Annex XIX of document GCF/B.01-13/08;
- Decided to explore options for making short-term progress on readiness, including, given the availability of resources, to initiate work on operationalizing a readiness phase, including on:
- identifying and engaging with existing initiatives and programmes on readiness and preparatory support in order to enhance learning and ensuring coherence, including a possible workshop;
- identifying short-term initiatives to support readiness and preparatory support; and
- assessing available information on readiness and preparatory support needs and gaps;
- Invited countries to provide additional resources to the administrative budget of the Fund.
The Board, having reviewed document GCF/B.01-13/10 Arrangements between the Conference of the Parties to the United Nations Framework Convention on Climate Change and the Green Climate Fund,
- Recognized that the provisions contained in Article 11, paragraph 3, and decision 3/CP.17 of the of the United Nations Framework Convention on Climate Change and the Governing Instrument form the basis for arrangements between the Conference of the Parties and the Green Climate Fund, and that the Standing Committee on Finance and the Board develop the arrangements between the Conference of the Parties and the Green Climate Fund, consistent with decision 7/CP.18 of the Conference of the Parties at its eighteenth session;
- Took note of the outcome of the Standing Committee on Finance discussion on the arrangements between the Conference of the Parties and the Green Climate Fund, as communicated by the Co-Chairs of the Standing Committee on Finance;
- Decided that the Co-Chairs be mandated to develop, in accordance with paragraph 1 of decision 7/CP.18, the draft arrangements between the Conference of the Parties and the Green Climate Fund with the Co-Chairs of the Standing Committee on Finance;
- Further decided that the draft arrangements between the Conference of the Parties and the Green Climate Fund be presented for consideration at the June 2013 Board meeting to be further developed for adoption at the September 2013 meeting for presentation to the Conference of the Parties at is nineteenth session for agreement.
The Board, having reviewed document GCF/B.01-13/09/Rev.01 Logo of the Green Climate Fund,
- Requested the Interim Secretariat to launch an international competition inviting art and design schools and universities worldwide, and the broader public through the Fund’s website, to submit a proposal for a logo of the Fund that depicts its ideals and character. In order to attract youth participation, an age limit of 25 years will apply;
- Agreed that the purpose of launching this competition will be to raise awareness:
- Of the Green Climate Fund;
- Of challenges and threats posed by climate change, in particular among the young generation;
- Agreed that the logo of the Fund should:
- Reflect the resolve of the international community to address and overcome climate change;
- Reflect the inclusive and distinct institutional character of the Fund which involves States, private sector and civil society, working together to address the challenge of climate change;
- Be in line with the objectives of the Fund to achieve a new paradigm through low- emission and climate-resilient development pathways;
- Requested the Interim Secretariat to develop a set of rules for the competition;
- Requested the Co-Chairs to address a letter, containing an entry form, rules of the competition, and information regarding the work of the Fund, to the heads of such schools and universities, requesting them to inform and invite interested individuals to design the logo of the Fund. Such letters will also be addressed to the ministers of environment and/or climate change to ensure the widest possible circulation of the invitation. The same information will be posted on the Fund’s website;
- Decided that:
- Entries for the logo of the Fund should be received by the Interim Secretariat no later than 30 June 2013;
- The Board, at its June 2013 meeting, will constitute a Selection Panel, supported by the Interim Secretariat, comprising:
- Three members/alternate members from the developed countries and three members/alternate members from the developing countries;
- A representative of civil society;
- A representative of the private sector;
- A well-known graphic designer, by invitation and on a pro-bono basis, with substantial experience in designing logos; and
- The Director of the Interim Secretariat.
- The Interim Secretariat, in accordance with the rules of the competition, will present a shortlisted set of 100 entries to the Selection Panel for it to assess and make a recommendation to the Board at its September 2013 meeting;
- Decided that the set of rules will also be used by the selection panel to evaluate submissions and make a decision based on pre-selected criteria. The winner will be announced during the September 2013 Board meeting;
- Agreed that the cost of travel and up to two days of accommodation for the individual/group (maximum two persons) or its representative whose logo proposal is selected by the Board to attend a presentation will be borne from the administrative budget of the Fund;
- Agreed that the approved logo of the Fund and the name of the individual/group who designed it will be displayed at the headquarters of the Fund.
The Board
- Decided that its second meeting in the year 2013 will take place in Incheon City, Republic of Korea, on 25-28 June 2013; and
- Decided that its third meeting in the year 2013 will take place on 4-6 September 2013, with preparatory meetings on 3 September 2013, at a venue to be confirmed.
The Board:
- Approved the report of the first meeting of Board as contained in Annex II to document GCF/B.02‐12/11, with amendments (subsequently issued as document GCF/B.01‐12/10);
- Agreed to publish the report of the first meeting of the Board on the Green Climate Fund website.
The Board:
- Approved paragraph 3 of Annex III (Additional Rules of Procedure relating to Co‐Chairs) to document GCF/B.02‐12/02;
- Decided, in accordance with the recommendations from the team on Additional Rules of Procedure, to organize a meeting of the team to continue their work one day prior to the third Board meeting.
The Board:
- Agreed to take decisions with an aim to finalize the Fund’s business model and consider each related matter in detail as part of the Board’s work plan until the end of 2013;
- Agreed in principle to the elements of the Board’s work plan until the end of 2013, as set out in Annex IV to document GCF/B.02‐12/03;
- Agreed to the indicative priority matters in the work plan until the end of 2013, as set out in Annex III to this report;
- Agreed to the indicative timeline for the Board’s work plan until the end of 2013, as set out in Annex IV to this report, noting that the Board will manage the timeline on a meeting‐by‐ meeting basis;
- Agreed to the list of matters for consideration at its next meeting as outlined in Annex V to this report;
- Requested the Interim Secretariat to prepare documents listed in Annex VI to this report for the first Board meeting in 2013;
- Requested the team of six Board members/alternate members to facilitate the preparation of the documents on the business model framework. These Board members/alternate members are: Mr. Arnaud Buisse, Mr. Nick Dyer, Mr. Derek Gibbs, Mr. Kjetil Lund, Mr. Tosi Mpanu Mpanu and Ms. Adriana Soto.
The Board:
- Decided by consensus to select Songdo, Incheon City, Republic of Korea, as the host city of the Fund;
- Agreed to present this decision for endorsement to the Conference of the Parties (COP) of the United Nations Framework Convention on Climate Change (UNFCCC) at its eighteenth session.
The Board:
- Approved the Standard Provisions applicable to the Green Climate Fund Trust Fund in Annex II to document GCF/B.01‐12/05/Rev.01;
- Approved the Transfer Agreement under the Green Climate Fund Trust Fund (MTO No. 069022) with the UNFCCC secretariat in connection with the Interim Secretariat in Annex III to document GCF/B.01‐12/05/Rev.01.
The Board, having reviewed document GCF/B.02‐12/06/Rev.01, and making a record of:
- Funds available for disbursement of US$ 2.7 million as at 19 October 2012;
- Previous pledges anticipated to be paid in of US$ 2.5 million;
- New pledges made at the meeting of US$ 1.5 million; and
- Strong commitments to additional pledges made,
- Approved, from resources available or to be made available in the Green Climate Fund Trust Fund (GCFTF), the administrative budget of the Fund for the period from 1 November 2012 to 31 December 2013 of US$ 7,481,000, as set out in Table 2 of document GCF/B.02‐12/06/Rev.01;
- Authorized the Interim Trustee to make cash transfers from the GCFTF to the UNFCCC and Global Environment Facility (GEF) secretariats as the Interim Secretariat, and to the World Bank as the Interim Trustee, in accordance with the administrative budget of the Fund approved by the Board, subject to adjustment based upon revised costs and expenditures to be incurred. In the event the Interim Trustee determines that the amount of available resources in the GCFTF will be insufficient to cover the total estimated budgets specified in (a) above, the Board authorizes the Interim Trustee to make cash transfers to the Interim Secretariat and the Interim Trustee up to the pro rata amount of available resources in the GCFTF to cover such total estimated budget as determined by the Interim Trustee;
- Authorized the Interim Secretariat to recruit staff for the period from 1 November 2012 to 31 December 2013, in accordance with the administrative budget of the Fund approved by the Board and subject to availability of resources, by:
- Issuing fixed term contracts up to December 2013;
- Further staff assignments from the UNFCCC and GEF secretariats;
- Reimbursable secondments of experts from relevant institutions; and/or
- Hiring consultants for extended periods of time;
- Took note of the supplementary information presented in the document, including on the status of financial resources in the GCFTF.
The Board:
- Took note of the information presented in document GCF/B.02‐12/07;
- Requested the Board members to submit any comments they may have on the document to the Interim Secretariat no later than 3 November 2012.
The Board:
- Decided to establish an Executive Director Selection Committee consisting of six Board members (H.E. Mr. Jan Cedergren, H.E. Mr. Ernesto Cordero Arroyo, Mr. Omar El‐Arini, H.E. Ms. Audrey Joy Grant, Mr. Manfred Konukiewitz and Mr. Alexey Kvasov ) that will oversee the selection process and make recommendations to the Board;
- Agreed to request the Executive Director Selection Committee to:
- Agree to revise the draft terms of reference for the Executive Director (Annex III of document GCF/B.02‐12/08), taking into account written comments received from Board members, which will be provided no later than 3 November 2012;
- Decide the selection process for the Executive Director, considering the most effective and efficient approach, including whether an executive search firm is required to assist in the process;
- In the event that an executive search firm is the option of choice, agree on the terms of reference for the search firm, and provide guidance to the Interim Secretariat to identify a suitable firm in a cost‐effective manner, for approval by the Selection Committee;
- Approve the text and media for disseminating the advertisement for the Executive Director;
- Agree a short‐list of candidates, interview the short‐listed candidates and create a final list of three candidates without ranking for consideration by the Board, at its third meeting;
- Incur expenses of up to US$ 200,000, ensuring expenditure is efficient and cost‐effective. If there is a requirement to exceed this amount, the Selection Committee will seek the Co‐Chairs’ approval; and
- Keep the Board informed of progress, including a report to the third meeting addressing action in relation to sub‐paragraphs (i)‐(vi) above.
The Board:
- Requested the Co‐Chairs, assisted by the Interim Secretariat, to finalize the Report of the Green Climate Fund to the Conference of the Parties to the United Nations Framework Convention on Climate Change in Annex II to document GCF/B.02‐12/09, taking into consideration the comments and amendments made at the meeting, and forward it to the UNFCCC secretariat;
- Authorized the Co‐Chairs to present the report to the COP.
The Board:
- Noted the need for further work and consultations and requested the Interim Secretariat to prepare a working document on these issues for discussion at its next meeting;
- Invited its members to send comments on the issues raised at this meeting or additional issues to the Interim Secretariat by 30 August 2012, so that they can be addressed in the working document;
- Agreed, on a provisional basis, that the Co‐Chairs, when chairing the meeting, may designate their alternates to act on their behalf and take their seats and that this arrangement would not set a precedent and will be replaced by more permanent arrangements at the next Board meeting under the additional rules of procedure.
The Board:
- Agreed, on an ad hoc basis, to provisionally invite four active observers to participate in its meeting and to each make a statement on the issues that are on its agenda;
- Requested the Interim Secretariat to prepare a policy document on how to operationalize paragraph 16 of the Governing Instrument and invited its members to provide their views on this issue to the Interim Secretariat and observers present at the meeting to contribute as well. Input should reach the Interim Secretariat by 30 August 2012.
The Board decided to adopt the evaluation criteria and selection process as presented in Annex II to this document. The Board decided to establish the Host Country Evaluation Committee with following members:
Mr. Dipak Dasgupta (India), Mr. Omar El‐Arini (Egypt), Ms. Ana Fornells de Frutos (Spain), H.E. Ms. Audrey Joy Grant (Belize), Mr. Gilbert Metcalf (United States of America), Mr. Tomáš Zídek (Czech Republic).
The Board:
- Requested the Interim Secretariat to continue with the current arrangements as set up by the UNFCCC and the GEF secretariats and under the supervision of its Co‐Chairs;
- Provided guidance to the Interim Secretariat and requested the Interim Secretariat to report on how it implemented that guidance at the next Board meeting under the agenda item “Summary of activities of the Interim Secretariat”;
- Requested the Interim Secretariat to prepare a working document for the next Board meeting on how to address the issues relating to the establishment of the independent Secretariat, addressing the issues raised at this Board meeting;
- Agreed to initiate without undue delay the process of selecting the Executive Director of the independent Secretariat and requested the Interim Secretariat to prepare a working document addressing the criteria for, and the process of, the selection of the Executive Director as well as the terms of reference for this position;
- Invited the Board members to provide by 31 August 2012 comments to the Interim Secretariat additional to, or elaborating on, those presented at this Board meeting on the issues referred to in paragraphs (a) to (c).
The Board,
- Requested the Interim Secretariat and the Interim Trustee to revise the document in the light of the comments made and present it to the Board at its next meeting;
- Invited the Board members to provide by 31 August 2012 comments to the Interim Secretariat additional to, or elaborating on, those presented at this Board meeting;
The Board,
- Approved the administrative budget to cover the expenditures incurred during the period up to 30 June 2012, as presented in document GCF/B.01‐12/08/Rev.02;
- Approved the administrative budget proposed for the period 1 July to 31 October 2012, in the amounts set forth in Table 1 of document GCF/B.01‐12/08/Rev.02;
- Decided that the full costs of travel and daily subsistence allowance of the Board members and alternate members from eligible developing countries to attend Board meetings, or any ancillary meetings decided by the Board, will be provided from the budget of the Fund;
- Authorized the International Bank for Reconstruction and Development (the World Bank) as the Interim Trustee for the Green Climate Fund to make cash transfers for the Interim Secretariat through the UNFCCC and the GEF secretariats, and to the World Bank as the Interim Trustee, up to the total amounts specified in Table 1, subject to the availability of resources in the GCF Trust Fund and adjustment based upon revised costs and expenditures to be incurred;
- Took note of the funds provided by Denmark, Germany, Norway, Spain, Switzerland and the United States of America in agreeing to carry‐over the unspent balance from contributions originally made to support the work of the Transitional Committee and of pledges made by Denmark and Germany for contributions to the administrative budget;
- Requested the Interim Secretariat and the Interim Trustee to present to it at its next meeting the refined administrative budget in a revised format.
The Board agreed to consider at its next meeting the following issues:
- Organization of work;
- Summary of activities of the Co‐Chairs;
- Summary of activities of the Interim Secretariat;
- Additional rules of procedure (including accreditation of observers and arrangements for active observers);
- Selection of the host country of the Fund;
- Arrangements for establishing the independent Secretariat, including the selection of the Executive Director;
- Arrangements for the Interim Trustee;
- Long‐term work plan and priorities of the Board;
- Administrative budget of the Interim Secretariat and the Interim Trustee;
- Status of resources of the Fund;
- Arrangements between the COP and the Fund;
- Report to the COP.