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The Independent Evaluation Unit (IEU) review of the GCF's Results Management Framework (RMF) finds that while the RMF helps classify projects into adaptation and mitigation themes, it suffers from critical flaws in its logical models and a lack of measurement protocols. The review reveals that 39% of approved projects lack impact indicators for at least one targeted result area, representing a reporting gap for USD 1.3 billion in investments. Key deficiencies include the absence of baseline data in 50% of projects and insufficient M&E budgeting in 70% of cases. The IEU recommends developing theories of change, creating a technical guide to consolidate scattered Board decisions, and strengthening the role of National Designated Authorities (NDAs) beyond the granting of non-objection letters. The report also notes that gender-related tools are not yet fully integrated into the RMF.

The IEU review finds that while the GCF's Results Management Framework (RMF) helps stakeholders focus on adaptation and mitigation, it suffers from critical flaws in its logic models, a lack of measurement protocols for indicators, and insufficient integration with national monitoring systems. A portfolio analysis of 74 approved projects revealed that 39% are missing at least one impact indicator for their targeted result areas, and 50% have no plans for baseline data collection. The review recommends that the GCF Secretariat develop theories of change for key thematic areas, establish clear measurement protocols, and better define the role of National Designated Authorities (NDAs) throughout the project cycle.