Report of the twenty-third meeting of the Board, 6 – 8 July 2019

The GCF Board's 23rd meeting focused on operationalizing the fund's first formal replenishment (GCF-1) and improving governance. Key outcomes include the adoption of a new voting procedure to resolve deadlocks when consensus fails, the approval of a Policy on Ethics and Conflicts of Interest for Active Observers, and the adoption of a Policy on the Prevention and Protection from Sexual Exploitation, Sexual Abuse, and Sexual Harassment (SEAH). The Board also approved several funding proposals, including a high-leverage seawater pumped storage project in Chile and agricultural resilience projects in Bhutan, Pakistan, and Kenya. A Forward-Looking Performance Review (FPR) highlighted that while GCF has committed over USD 5.3 billion, it faces challenges with long disbursement times and a need for greater direct access for developing countries.

• The GCF adopted a formal voting procedure to be used as a last resort when all efforts to reach consensus on a draft decision have been exhausted.
• The Board established that the first formal replenishment of the GCF (GCF-1) will cover a four-year programming period from 1 January 2020 to 31 December 2023.
• A Forward-Looking Performance Review (FPR) found that GCF has committed over USD 5.3 billion (approximately 75%) of its USD 7.1 billion pledged capital, but less than 10% of these committed funds have been disbursed.
• The FPR identified significant operational inefficiencies, noting that the time required for a project to receive financial support can exceed 1,000 days.
• The Board approved a new Policy on the Prevention and Protection from Sexual Exploitation, Sexual Abuse, and Sexual Harassment (SEAH), extending obligations to GCF counterparties to prevent and remedy such acts.
• A new Policy on Ethics and Conflicts of Interest for Active Observers was adopted, including an 18-month cooling-off period before such individuals can be employed by the Secretariat.
• The Board approved funding proposal FP115 ('Espejo de Tarapacá') in Chile for USD 60 million, a seawater pumped storage hydroelectric project with a high private sector leveraging ratio of 1:18.
• Several adaptation-focused funding proposals were approved, including projects in Bhutan (USD 25.3 million), Pakistan (USD 34.9 million), Timor-Leste (USD 22.3 million), and Kenya (USD 23.1 million).
• The Board approved a results-based payment for Ecuador (FP110) of USD 18.5 million for emission reductions of 4,831,679 tCO2eq in 2014.
• The Board adopted a Compliance Risk Policy to manage internal and external compliance breaches and protect the fund's reputation.
• The Board approved the adoption of a project-specific assessment approach (PSAA) in principle to simplify accreditation for specific projects, though full implementation arrangements were deferred to B.24.
• The Board approved a budget of USD 90,000 for the 2019 implementation of the Interim Policy on the Protection from Sexual Exploitation, Sexual Abuse, and Sexual Harassment.

APA

Green Climate Fund (2019). Report of the twenty-third meeting of the Board, 6 – 8 July 2019. https://www.greenclimate.fund/sites/default/files/document/gcf-b23-24.pdf

Chicago

Green Climate Fund. Report of the twenty-third meeting of the Board, 6 – 8 July 2019. 2019. https://www.greenclimate.fund/sites/default/files/document/gcf-b23-24.pdf.

Wikipedia

{{cite report |author=Green Climate Fund |title=Report of the twenty-third meeting of the Board, 6 – 8 July 2019 |date=17 September 2019 |url=https://www.greenclimate.fund/sites/default/files/document/gcf-b23-24.pdf |access-date=23 October 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{greenclimatefund2019report, author = {{Green Climate Fund}}, title = {{Report of the twenty-third meeting of the Board, 6 – 8 July 2019}}, institution = {Green Climate Fund}, year = {2019}, month = sep, url = {https://www.greenclimate.fund/sites/default/files/document/gcf-b23-24.pdf}, urldate = {2026-10-23}, note = {Indexed by Climate Insights Directory} }