B.21/18: Arrangements for the first formal replenishment of the GCF

The Board, having reviewed document GCF/B.21/30/Rev.01 titled “Arrangements for the first formal replenishment of the Green Climate Fund” and document GCF/B.21/Inf.05 titled “Status of the initial resource mobilization process”, and taking account of guidance from the Conference of Parties to the United Nations Framework Convention on Climate Change:

  1. Reaffirms the objectives of the Green Climate Fund to channel new, additional, adequate and predictable financial resources and catalyse climate finance, both public and private, for developing countries, and promote a paradigm shift towards low-emission and climate- resilient development;
  2. Stresses the importance and urgency of the Green Climate Fund conducting a successful and ambitious first replenishment process to continue advancing its mandate as an operating entity of the financial mechanism under Article 11 of the United Nations Framework Convention on Climate Change;
  3. Agrees that the first and successive replenishments of the Green Climate Fund should take into account the stated ambitions, actions and contributions of developing countries to reduce their greenhouse gas emissions by meaningful mitigation actions and to adapt to the impacts of climate change, and that the Board will provide the replenishment process with strategic guidance;
  4. Takes note that cumulative funding approvals have reached USD 5.5 billion, showing the significant scaling up of the Green Climate Fund’s capabilities to support low-emission and climate-resilient development in developing countries and the implementation of the United Nations Framework Convention on Climate Change and the Paris Agreement;
  5. Also takes note that cumulative funding approvals have reached USD 5.5 billion, which triggers the first formal replenishment process;
  6. Decides to launch the process for the Green Climate Fund’s first formal replenishment;
  7. Further decides that the period of the first replenishment will be decided by the Board in 2019;
  8. Stresses the urgency to reach pledges for replenishment, aiming to conclude the process in October 2019, recognizing that further pledges may be received during the replenishment period;
  9. Requests the Secretariat to prepare the following documents for consideration by the Board and the replenishment process:
    1. A comprehensive report on the implementation of the Green Climate Fund’s initial Strategic Plan over the initial resource mobilization period (2015−2018);
    2. A document outlining areas in the Policies for Contributions, standard provisions, and template contributions agreement that may be updated for the Green Climate Fund’s first replenishment period, including the conditions necessary to trigger subsequent replenishments; and
    3. A strategic programming document outlining scenarios for the Green Climate Fund’s replenishment guided by ambitious mitigation and adaptation scenarios based on the Green Climate Fund’s implementation potential, taking into account the needs of developing countries, including actions based on nationally determined contributions, national adaptation plans, country programmes and other sources;
  10. Also requests the Co-Chairs to consult with Board members and alternate Board members in relation to the preparation of the documents listed in paragraph (i) above;
  11. Further requests the group of Board members and alternate Board members, consisting of the Co-Chairs and five representatives of developing countries and three representatives of developed countries, to represent the Board and the Green Climate Fund and actively engage in the replenishment process, including to present the outcomes of the Board’s deliberations listed in paragraph (i) and to report back to the Board on a regular basis;
  12. Requests the Co-Chairs to consult with their respective constituencies for the nominations to the group identified in paragraph (k) above;
  13. Takes note of paragraph (e) of decision B.21/17 that the outcome of the performance review and the Board’s consideration of the performance review will be shared with the replenishment process;
  14. Endorses the process for the first replenishment process set out in annex XVII;
  15. Requests the Co-Chairs of the Board to consult Board members and alternate Board members regarding proposals to appoint a global facilitator to oversee the replenishment process;
  16. Also requests the Secretariat to begin making arrangements to facilitate the replenishment process;
  17. Approves a budget of USD 1,296,500 to conduct the formal replenishment process, as detailed in annex XVIII to this decision, and requests the Budget Committee to review the budgetary allocation;
  18. Requests the Trustee to provide support to the Secretariat, as part of its function to administer the GCF Trust Fund, on issues related to:
    1. Updating the standard provisions and template contributions agreement; and
    2. Other relevant financial management issues as agreed between the Executive Director of the Green Climate Fund Secretariat and the Trustee;
  19. Authorizes the Executive Director ad interim to confirm with the Trustee the scope of trustee support, as referred to in paragraph (r);
  20. Reiterates the Board’s intention to review the Strategic Plan of the Green Climate Fund as part of the first replenishment process, with a view to revising the strategic vision, if and as needed, and to update the core operational priorities and underlying action plan; and
  21. Invites members of the Board to send inputs on the update of the Strategic Plan to the Secretariat by 30 November 2018 in order for the Secretariat to produce a synthesis of issues for consideration by the Board at its twenty-second meeting.