Standards for the implementation of the Anti-Money Laundering and Countering the Financing of Terrorism Policy

The Standards for the Implementation of the Anti-Money Laundering and Countering the Financing of Terrorism Policy provide a framework for the Green Climate Fund (GCF) to manage money laundering and terrorist financing (ML/FT) risks. The document mandates a risk-based approach to counterparty due diligence, the establishment of an AML/CFT Program, and the implementation of monitoring and reporting mechanisms for suspicious activities. It defines the roles of the GCF Secretariat, the Independent Integrity Unit (IIU), and the Board in ensuring compliance with international best practices, specifically those set by the Financial Action Task Force (FATF).

• Counterparty Due Diligence (CDD) must be completed and approved before any contractual relationship is established or any funds are disbursed. The GCF applies a risk-based approach to identify and verify the identity of counterparties and their beneficial owners.
• The GCF explicitly prohibits engaging with certain high-risk entities, including shell banks, unlicensed banks, unregulated Money or Value Transfer Service (MVTS) providers, and financial institutions that issue bearer shares or maintain anonymous accounts.
• The GCF relies on Accredited Entities and Delivery Partners to perform due diligence on underlying counterparties, but the GCF monitors the effectiveness of these measures through requests for identification data and proactive integrity reviews by the IIU.
• All GCF personnel and board-related officials are required to report suspicious activities or 'red flags' to the Head of the Independent Integrity Unit (IIU). Tipping-off a counterparty about such a report is strictly prohibited.
• The GCF provides training and capacity-building support to counterparties that lack sufficient knowledge to manage ML/FT risks, covering policy advice, technical training on compliance programs, and experience sharing.

APA

Green Climate Fund (n.d.). Standards for the implementation of the Anti-Money Laundering and Countering the Financing of Terrorism Policy. https://www.greenclimate.fund/sites/default/files/document/standards-aml-cft-policy.pdf

Chicago

Green Climate Fund. Standards for the implementation of the Anti-Money Laundering and Countering the Financing of Terrorism Policy. n.d. https://www.greenclimate.fund/sites/default/files/document/standards-aml-cft-policy.pdf.

Wikipedia

{{cite report |author=Green Climate Fund |title=Standards for the implementation of the Anti-Money Laundering and Countering the Financing of Terrorism Policy |url=https://www.greenclimate.fund/sites/default/files/document/standards-aml-cft-policy.pdf |access-date=23 October 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{greenclimatefundndstandards, author = {{Green Climate Fund}}, title = {{Standards for the implementation of the Anti-Money Laundering and Countering the Financing of Terrorism Policy}}, institution = {Green Climate Fund}, url = {https://www.greenclimate.fund/sites/default/files/document/standards-aml-cft-policy.pdf}, urldate = {2026-10-23}, note = {Indexed by Climate Insights Directory} }