This document provides a summary of the discussions held during the first consultation meeting (1–2 December 2022) with regard to updating the policy for contributions to the Green Climate Fund for the second replenishment. Based on the feedback from the first consultation meeting and the thirty-fifth meeting of the Board, the draft policy for contributions will be revised and shared at the second consultation meeting in April 2023 for consideration, with a view to preparing a further revised draft policy for consideration and adoption by the Board at B.36.