Report of the twelfth meeting of the Board, 8–10 March 2016

The GCF Board's twelfth meeting resulted in the endorsement of the initial Strategic Plan (2015-2018) and the accreditation of 13 entities, including HSBC and the African Development Bank. Key operational milestones included the adoption of a Comprehensive Information Disclosure Policy, the establishment of a Budget Committee, and the approval of a risk register. The Board also addressed resource mobilization, noting a USD 3 billion contribution arrangement from the United States and approving a budget increase for Secretariat staffing to approximately 100 members by the end of 2016. Additionally, the Board initiated the process for appointing a new Executive Director and approved a USD 1.5 million grant for project preparation in Rwanda.

• The Board endorsed the initial Strategic Plan for the GCF to guide the 2015-2018 programming period, which aims to "invest the Fund resources in transformational climate actions in a country-driven manner".
• The Board adopted a Comprehensive Information Disclosure Policy based on the principle to "maximize access to information", which includes the decision to webcast formal Board meetings live until the end of 2017.
• The Board approved a risk register and requested the development of interim risk and investment guidelines, emphasizing that the GCF should take "risks that other institutions/funds were not willing to take".
• The United States signed a contribution arrangement for a USD 3 billion pledge, with an initial payment of USD 500 million to be transferred to the GCF.
• The Board approved an increase in the Secretariat's administrative budget to USD 35,844,715 for 2016 to support a phased increase in regular staff to approximately 100 by the end of 2016 and 140 by the end of 2017.
• A grant of USD 1.5 million was approved for the Ministry of Natural Resources of Rwanda (MINIRENA) for the project preparation of the "Rural Green Economy and Climate Resilient Development Programme".
• The Board established a Budget Committee to review and make recommendations on the preparation and implementation of the Fund's administrative budget.
• The Board initiated the process for appointing a new Executive Director, establishing a selection committee and engaging an independent executive search firm after the current Executive Director decided not to seek a second term.
• The Board decided to align the terms of Board and alternate Board membership to the calendar year, with the current term ending on 31 December 2018.

APA

Green Climate Fund (2016). Report of the twelfth meeting of the Board, 8–10 March 2016. https://www.greenclimate.fund/sites/default/files/document/gcf-b12-33.pdf

Chicago

Green Climate Fund. Report of the twelfth meeting of the Board, 8–10 March 2016. 2016. https://www.greenclimate.fund/sites/default/files/document/gcf-b12-33.pdf.

Wikipedia

{{cite report |author=Green Climate Fund |title=Report of the twelfth meeting of the Board, 8–10 March 2016 |date=17 May 2016 |url=https://www.greenclimate.fund/sites/default/files/document/gcf-b12-33.pdf |access-date=23 October 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{greenclimatefund2016report, author = {{Green Climate Fund}}, title = {{Report of the twelfth meeting of the Board, 8–10 March 2016}}, institution = {Green Climate Fund}, year = {2016}, month = may, url = {https://www.greenclimate.fund/sites/default/files/document/gcf-b12-33.pdf}, urldate = {2026-10-23}, note = {Indexed by Climate Insights Directory} }