This document submits for the consideration of the Board at its thirtieth meeting (B.30) a set of options to update the simplified approval process (SAP). The document, which was called for by decision B.18/06, takes into account comments from Board members received on the draft SAP, including comments received on a July 2021 consultation draft. It also takes into consideration the results of the Secretariat-commissioned review of the SAP, the assessment of the SAP by the Independent Evaluation Unit (IEU), and the SAP-related mandates included in the GCF’s updated Strategic Plan. This draft differs from the version considered at B.28 by: removing the proposal for delegating to the Executive Director the approval of certain SAP projects/programmes; further clarifying the process proposed for taking SAP decisions without a Board meeting; the inclusion of an option for expanding SAP access by increasing the level of GCF funding eligible for consideration in SAP proposals from USD 10 million to USD 20 million or 50 million; the inclusion of an annex analysing a wider range of potential impacts of proposed changes to the SAP; and the inclusion of options allowing an increase in the GCF funding threshold to USD 50 million only for proposals that: scale up projects previously proven successful; advance programmatic SAP proposals, have advanced roles for DAEs and/or that involve risk Category C proposals; and the inclusion of an option to make SAP concept notes optional rather than mandatory. Finally, this version outlines some of the additional actions that the Secretariat is taking to respond to some of the recommendations of the IEU Rapid Assessment of the SAP; these actions were previously presented in the Secretariat’s Management Response to the IEU Rapid Assessment of the SAP.