First meeting of the GCF Board (B.01)

The Board:

1. 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;
2. 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;
3. 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:

1. 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;
2. 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:

1. 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;
2. 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”;
3. 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;
4. 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;
5. 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,

1. 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;
2. 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,

1. 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;
2. 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;
3. 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;
4. 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;
5. 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;
6. 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:

1. Organization of work;
2. Summary of activities of the Co‐Chairs;
3. Summary of activities of the Interim Secretariat;
4. Additional rules of procedure (including accreditation of observers and arrangements for active observers);
5. Selection of the host country of the Fund;
6. Arrangements for establishing the independent Secretariat, including the selection of the Executive Director;
7. Arrangements for the Interim Trustee;
8. Long‐term work plan and priorities of the Board;
9. Administrative budget of the Interim Secretariat and the Interim Trustee;
10. Status of resources of the Fund;
11. Arrangements between the COP and the Fund;
12. Report to the COP.