This document responds to the request of the Board in decision B.33/4 for the Secretariat, in consultation with the Co-Chairs, to present to the Board for its consideration a revised strategy for the Readiness and Preparatory Support Programme (hereinafter referred to as the revised Readiness Strategy). The revised Readiness Strategy supports the GCF’s long-term strategic vision: by 2027, developing countries have sustained capacities and strengthened enabling environments to translate their nationally determined contributions, adaptation communications, national adaptation plans and other climate change priorities, including through integrated and systemic climate investment planning, into country-owned, low-emission, climate-resilient catalytic investments to promote paradigm shift and advance the implementation of the United Nations Framework Convention on Climate Change and the Paris Agreement. The revised Readiness Strategy will achieve this vision through updated objectives and outcomes, enhanced current support modalities, and two new modalities of support for direct access entities and for least developed countries and small island developing States. The revised Readiness Strategy proposes a climate investment planning framework that sets out progressive steps and support activities that developing countries can use to move from the planning of their climate priorities into the planning and implementation of climate investments from GCF and non-GCF sources.

This revised Readiness Strategy builds on the experience gained by the Secretariat over eight years of readiness operations; feedback from consultations with Board and alternate members, national designated authorities, delivery partners and active observers; guidance from the Conference of the Parties to the UNFCCC; relevant Board decisions; and Independent Evaluation Unit evaluations.