Through decision B.27/06, the Board endorsed the Updated Strategic Plan for the Green Climate Fund: 2020–2023 to guide it in addressing policy gaps and programming GCF resources of the first replenishment period. The Board also requested the Secretariat to report on progress on the 2020–2023 Strategic Plan at the first Board meeting of each year from 2021.

This third 2020–2023 Strategic Plan progress report, coming at the start of the last year of first replenishment period of the GCF (GCF-1), captures the significant progress that has been made by the GCF since the adoption of the 2020–2023 Strategic Plan. It highlights key advancements and results related to programming, policy, operations, and institutional capacity, as well as pinpointing action areas and challenges for the last year of the GCF-1 programming period. The annexes include a results tracking tool. Reported figures are as at 31 December 2022.