In decision B.13/36, the Board requested the Secretariat to develop the necessary methodologies and internal procedures as well as to enhance the Secretariat’s risk management capacity. The Board through decision B.BM-2017/02, decided “that the interim risk and investment guidelines adopted pursuant to decision B.13/36, paragraph (a), will expire the earlier of: (i) the eighteenth meeting of the Board; or (ii) the adoption of an updated set of risk and investment guidelines”.

In accordance with the work plan of the Board 2017 adopted in the decision taken between meetings, the first set of components of the updated Risk Management Framework (RMF) including the risk appetite statement is to be considered at the seventeenth meeting of the Board (B.17), and the remaining components of the RMF are to be considered at the eighteenth meeting of the Board (B.18).

This document presents the Risk Management Committee’s proposal on the first set of components of the updated GCF RMF for consideration by the Board.