B.35/12: Guidance from the twenty-seventh session of the Conference of the Parties to the United Nations Framework Convention on Climate Change
The Board, having considered document GCF/B.35/11 titled “Guidance from the twenty-seventh session of the Conference of the Parties”:
- Takes note of this report, including the actions to be undertaken by the Board and Secretariat in 2023 in response to guidance received from the Parties during the twenty-seventh session of the Conference of the Parties, as contained in annex VII, as amended;
- Requests the Secretariat to prepare for the Board’s consideration and approval a proposal on the financing of results-based payments for REDD+, building on the outcomes of the pilot phase no later than the thirty-seventh meeting of the Board;
- Also requests the Secretariat to undertake open, inclusive and transparent consultations on the development of the proposal on the financing of results-based payments for REDD+ and further requests the Secretariat to assess the cost implications of the consultations and submit to the Budget Committee a budget request for its consideration as required;
- Requests the Secretariat to prepare an action plan and timetable focusing on GCF’s enhanced engagement with the local private sector as well as micro, small and medium-sized enterprises in developing countries, including by providing early-stage and grant-based financing to the local private sector and start-ups in developing countries, as part of the Secretariat’s annual reporting to the Board on progress in the implementation of the Private Sector Strategy for consideration at the thirty-seventh meeting of the Board;
- Also requests the Secretariat to explore options for further enhancing coherence and complementarity with other relevant bilateral, regional and global funding mechanisms and institutions and present these to the Board for consideration no later than the thirty-seventh meeting of the Board; and
- Further requests the Co-Chairs, with the support of the Secretariat, to include an overview of progress on the response to guidance received from the Parties during the twenty-seventh session of the Conference of the Parties in the twelfth report of the Green Climate Fund to the Conference of the Parties to the United Nations Framework Convention on Climate Change.