B.12/38: Interim Trustee review and other trustee matters

The Board, having reviewed document GCF/B.12/18 titled “Trustee arrangements, including the review of the Interim Trustee and the initiation of a process to select the Trustee of the Green Climate Fund”,

1. Takes note of the agreement to conduct a review of the Interim Trustee three years after the operation of the GCF as set out in the Governing Instrument for the GCF;
2. Requests the Secretariat to commission an independent third party to implement the review of the Interim Trustee, in consultation with and under oversight of the Risk Management Committee; and
3. Further requests the Secretariat to ensure that in undertaking the review, the independent third party:
   
   1. Develops terms of reference for the review drawing from the Governing Instrument and the contract between the Secretariat and the Interim Trustee, in consultation with the Secretariat and the Interim Trustee, and endorsed by the Risk Management Committee; and
   2. Conducts the review and provides a report for the consideration of the Board by its fourteenth meeting.