Twenty-eighth meeting of the GCF Board (B.28)

The Board:

Elects Mr. José de Luna as the Co-Chair of the Board being a member from a developing country Party for a term starting on 16 March 2021 and for the remainder of the term of his predecessor ending 31 December 2021, in accordance with paragraph 13 of the Governing Instrument for the Green Climate Fund and paragraphs 7 and 9 of the Rules of Procedure of the Board.

The Board, having considered document GCF/B.28/04 titled “Addressing gaps in the current portfolio for measurement”:

1. Takes note of the information presented in the document;
2. Reiterates the commitment of GCF as a learning organization to iteratively improve the integration of sufficient monitoring and evaluation budget and activities for the gathering of evidence in funding proposals and funded activities to ensure the credibility of the portfolio and project/programme results reported;
3. Recognizes that participation and implementation of remediation measures by accredited entities is voluntary;
4. Requests the Secretariat to target remediation efforts covering all gaps in project/programme monitoring and evaluation or the relevant performance management frameworks’ indicator risk assessment, where the ratings are assessed by the Secretariat as moderate, elevated or high;
5. Approves the Secretariat undertaking the following actions to advance remediation efforts:
   1. Phase 1: The Secretariat retaining a vendor and consulting with accredited entities to assess the willingness of the accredited entities to undertake proposed remediation activities on a project-specific basis, where the ratings are assessed by the Secretariat as moderate, elevated or high; and
   2. Phase 2: Based on feedback received from accredited entities, the Secretariat proposing a detailed action plan and funding envelope for remedial actions to be presented to the Board for consideration at the earliest possible opportunity, which may be through a decision between meetings, not later than the thirtieth meeting of the Board, to cover the costs of the remediation activities to be undertaken at the Secretariat and accredited entity level; and
6. Requests the Secretariat to consult and seek confirmation from the Budget Committee and approval by the Board on the additional administrative budget for Phase 1 of the remedial efforts as described in paragraph (e)(i) above.

The Board, having considered document GCF/B.28/15 titled “Update on the operations of the independent Technical Advisory Panel”:

1. Adopts the updated independent Technical Advisory Panel review procedure as presented in annex II;
2. Requests the Secretariat, in close consultation with the independent Technical Advisory Panel, to develop a transparent and consistent approach to their assessment of funding proposals;
3. Also requests the Secretariat, in consultation with the Budget Committee, to present to the Board, no later than its thirtieth meeting, a proposal on how to align the remuneration structure of the members of the independent Technical Advisory Panel with other panels of GCF and of comparable multilateral institutions, taking into consideration the impact of the provisions on conflict of interest contained in the Updated Terms of Reference of the Independent Technical Advisory Panel (decision B.BM-2018/09), and the workload of the independent Technical Advisory Panel; and
4. Further requests the Investment Committee, with the support of the Secretariat, to commission the next review of the structure of the independent Technical Advisory Panel and its effectiveness for the Board’s consideration in line with the updated Strategic Plan’s guidance as per decision B.27/06, paragraph (n), which will include an assessment of the following:
   1. Projected demands on the independent Technical Advisory Panel and its associated capacity to assess funding proposals in terms of time commitment and range of technical expertise;
   2. Any specific gaps in the technical expertise of the independent Technical Advisory Panel that should be filled for the adequate fulfilment of their functions;
   3. Effectiveness of the updated process, quality of the deliverables and options to improve these; and
   4. With regard to the simplified approval process, a consideration of the capacity of the independent Technical Advisory Panel to efficiently review simplified approval process proposals on a rolling basis and in a timely manner, and corresponding recommendations.

The Board, having considered document GCF/B.28/02/Rev.02 titled “Consideration of funding proposals”:

1. Takes note of the following funding proposals:
   1. Funding proposal 154 titled “Mongolia: Aimags and Soums Green Regional Development Investment Program (ASDIP)”, by the Asian Development Bank, as contained in document GCF/B.28/02/Add.01/Rev.01 and Add.18/Rev.02;
   2. Funding proposal 155 titled “Building resilience to cope with climate change in Jordan through improving water use efficiency in the agriculture sector (BRCCJ)”, by the Food and Agriculture Organization of the United Nations, as contained in document GCF/B.28/02/Add.02 and Add.18/Rev.02;
   3. Funding proposal 156 titled “ASEAN Catalytic Green Finance Facility (ACGF): Green Recovery Program”, by the Asian Development Bank, as contained in document GCF/B.28/02/Add.03/Rev.01 and Add.18/Rev.02;
   4. Funding proposal 157 titled “Coastal Resilience to Climate Change in Cuba through Ecosystem Based Adaptation – ‘MI COSTA’”, by the United Nations Development Programme, as contained in document GCF/B.28/02/Add.04 and Add.18/Rev.02;
   5. Funding proposal 158 titled “Ecosystem-Based Adaptation and Mitigation in Botswana’s Communal Rangelands”, by the Conservation International Foundation, as contained in document GCF/B.28/02/Add.05 and Add.18/Rev.02;
   6. Funding proposal 159 titled “PREFOREST CONGO - Project to reduce greenhouse gas emissions from forests in five departments in the Republic of Congo”, by the Food and Agriculture Organization of the United Nations, as contained in document GCF/B.28/02/Add.06 and Add.18/Rev.02;
   7. Funding proposal 160 titled “Monrovia Metropolitan Climate Resilience Project”, by the United Nations Development Programme, as contained in document GCF/B.28/02/Add.07/Rev.01 and Add.18/Rev.02;
   8. Funding proposal 161 titled “Building Regional Resilience through Strengthened Meteorological, Hydrological and Climate Services in the Indian Ocean Commission (IOC) Member Countries”, by the Agence Française de Développement, as contained in document GCF/B.28/02/Add.08 and Add.18/Rev.02;
   9. Funding proposal 162 titled “The Africa Integrated Climate Risk Management Programme: Building the resilience of smallholder farmers to climate change impacts in 7 Sahelian Countries of the Great Green Wall (GGW)”, by the International Fund for Agricultural Development, as contained in document GCF/B.28/02/Add.09 and Add.18/Rev.02;
   10. Funding proposal 163 titled “Sustainable Renewables Risk Mitigation Initiative (SRMI) Facility”, by the World Bank, as contained in document GCF/B.28/02/Add.10 and Add.18/Rev.02;
   11. Funding proposal 164 titled “Green Growth Equity Fund”, by the Nederlandse Financierings-Maatschappij voor Ontwikkelingslanden N.V., as contained in document GCF/B.28/02/Add.16;
   12. Simplified approval process (SAP) funding proposal 020 titled “Climate resilient food security for farming households across the Federated States of Micronesia (FSM)”, by the Micronesia Conservation Trust, as contained in document GCF/B.28/02/Add.12 and Add.18/Rev.02;
   13. Simplified approval process (SAP) funding proposal 021 titled “Community-based Landscape Management for Enhanced Climate Resilience and Reduction of Deforestation in Critical Watersheds”, by the Japan International Cooperation Agency, as contained in document GCF/B.28/02/Add.13 and Add.18/Rev.02;
   14. Simplified approval process (SAP) funding proposal 022 titled “Enhancing Multi-Hazard Early Warning System to increase resilience of Uzbekistan communities to climate change induced hazards”, by the United Nations Development Programme, as contained in document GCF/B.28/02/Add.14 and Add.18/Rev.02; and
   15. Simplified approval process (SAP) funding proposal 023 titled “River Restoration for Climate Change Adaptation (RIOS)”, by the Fondo Mexicano para la Conservación de la Naturaleza A.C., as contained in document GCF/B.28/02/Add.15 and Add.18/Rev.02;
2. Approves funding proposal 154 for the amount of USD 175,000,000, submitted by the Asian Development Bank, subject to the conditions set out in annex I and in the respective term sheet set out in document GCF/B.28/02/Add.18/Rev.02;
3. Also approves funding proposal 155 for the amount of USD 25,000,000, submitted by the Food and Agriculture Organization of the United Nations, subject to the conditions set out in annex I and in the respective term sheet set out in document GCF/B.28/02/Add.18/Rev.02;
4. Further approves funding proposal 156 for the amount of USD 300,000,000, submitted by the Asian Development Bank, subject to the conditions set out in annex I and in the respective term sheet set out in document GCF/B.28/02/Add.18/Rev.02;
5. Approves, pursuant to a vote in which 23 of the Board members present voted in favour and 1 of the Board members present voted against, and in respect of which none of the Board members present abstained from the vote, funding proposal 157 for the amount of USD 23,927,294, submitted by the United Nations Development Programme, subject to the conditions set out in annex I and in the respective term sheet set out in document GCF/B.28/02/Add.18/Rev.02;
6. Also approves funding proposal 158 for the amount of USD 36,760,394, submitted by the Conservation International Foundation, subject to the conditions set out in annex I and in the respective term sheet set out in document GCF/B.28/02/Add.18/Rev.02;
7. Further approves funding proposal 159 for the amount of USD 28,988,852, submitted by the Food and Agriculture Organization of the United Nations, subject to the conditions set out in annex I and in the respective term sheet set out in document GCF/B.28/02/Add.18/Rev.02;
8. Approves funding proposal 160 for the amount of USD 17,255,755, submitted by the United Nations Development Programme, subject to the conditions set out in annex I and in the respective term sheet set out in document GCF/B.28/02/Add.18/Rev.02;
9. Also approves, pursuant to a vote in which 23 of the Board members present voted in favour and 1 of the Board members present voted against, and in respect of which none of the Board members present abstained from the vote, funding proposal 161 for the amount of USD 52,767,986, submitted by the Agence Française de Développement, subject to the conditions set out in annex I and in the respective term sheet set out in document GCF/B.28/02/Add.18/Rev.02;
10. Further approves funding proposal 162 for the amount of USD 82,849,900, submitted by the International Fund for Agricultural Development, subject to the conditions set out in annex I and in the respective term sheet set out in document GCF/B.28/02/Add.18/Rev.02;
11. Approves funding proposal 163 for the amount of USD 280,000,000, submitted by the World Bank, subject to the conditions set out in annex I and in the respective term sheet set out in document GCF/B.28/02/Add.18/Rev.02;
12. Also approves funding proposal 164 for the amount of USD 137,000,000, submitted by the Nederlandse Financierings-Maatschappij voor Ontwikkelingslanden N.V., subject to the conditions set out in annex I and in the respective term sheet set out in document GCF/B.28/02/Add.16;
13. Further approves simplified approval process (SAP) funding proposal 020 for the amount of USD 8,583,350, submitted by the Micronesia Conservation Trust, subject to the conditions set out in annex I and in the respective term sheet set out in document GCF/B.28/02/Add.18/Rev.02;
14. Approves simplified approval process (SAP) funding proposal 021 for the amount of USD 9,976,222, submitted by the Japan International Cooperation Agency, subject to the conditions set out in annex I and in the respective term sheet set out in document GCF/B.28/02/Add.18/Rev.02;
15. Also approves simplified approval process (SAP) funding proposal 022 for the amount of USD 9,999,455, submitted by the United Nations Development Programme, subject to the conditions set out in annex I and in the respective term sheet set out in document GCF/B.28/02/Add.18/Rev.02;
16. Further approves simplified approval process (SAP) funding proposal 023 for the amount of USD 9,000,000, submitted by the Fondo Mexicano para la Conservación de la Naturaleza A.C., subject to the conditions set out in annex I and in the respective term sheet set out in document GCF/B.28/02/Add.18/Rev.02;
17. Reaffirms that pursuant to annex IV to decision B.17/09, the Executive Director or his designee is authorized to negotiate and enter into legal agreements on behalf of the GCF with accredited entities and other parties involved in respect of funding proposals approved by the Board, taking into account any condition approved by the Board in this decision and in the decision accrediting the relevant accredited entity; and
18. Authorizes the Secretariat to disburse fees for each funded project/programme approved by the Board as per the disbursement schedule to be agreed in the funded activity agreement in accordance with the policy on fees and the general principles and indicative list of eligible costs covered under GCF fees and project management costs adopted by the Board pursuant to decision B.19/09.

The Board, having considered document GCF/B.28/06 titled “Dates and venues of upcoming meetings of the Board”:

1. Confirms that the twenty-ninth meeting of the Board will take place from Monday, 28 June to Thursday, 1 July 2021 and that this be held as a net-meeting;
2. Decides that the thirtieth meeting of the Board will take place from Monday, 4 October to Thursday, 7 October 2021;
3. Underscores the importance of the full participation and involvement of the entire Board from all constituencies in the Board meetings and pre-Board meeting consultation process as an essential condition for holding an effective and full participatory meeting;
4. Requests the Secretariat, where applicable, to take appropriate steps to ensure the full and effective participation of all Board members, alternate members, advisers and active observers in the net-meeting, including testing the technology and providing support to developing countries in particular; and
5. Also requests the Co-Chairs to continue to monitor the impact of COVID-19 on the operations of GCF, and to report to the Board appropriately.