B.04/04: Business model framework: Objectives, results and performance indicators

The Board:

1. Noted convergence that the Fund will have a strategic focus on climate mitigation and adaptation, and also seek to maximize sustainable development;
2. Reaffirmed that country ownership will be a core principle of the business model framework of the Fund and that countries will identify their priority result areas in line with their national strategies and plans;
3. Decided to consider further the initial result areas of the Fund, with an aim to achieve substantial progress at its September 2013 meeting;
4. Further decided to consider the core performance indicators to be employed by the Fund to measure performance against the objectives of the Fund and the mitigation and adaptation results to be considered by the Board at its September 2013 meeting;
5. Further decided to consider the expected impacts and role of the Fund in the initial result areas at its second meeting in 2014.