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The Green Climate Fund's Accreditation Panel recommends the re-accreditation of the Food and Agriculture Organization of the United Nations (FAO) for a second term, maintaining its scope for medium-sized projects and medium environmental and social risk (Category B). The assessment confirms FAO's strong technical expertise in adaptation, REDD+, and the blue economy, and its ability to implement GCF's gender and environmental and social policies. While generally compliant, the Panel identified a gap in explicit policy statements regarding Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT), making the re-accreditation conditional upon the formal approval of an AML/CFT policy or the inclusion of consistent statements within its prohibited practices policies.

As of 30 April 2023, the GCF has approved 693 readiness grants totaling USD 513 million for 142 countries. Analysis of 239 completed grants shows significant progress in capacity-building, strategic framework development, and adaptation planning, with a strong focus on vulnerable regions. However, the portfolio has faced substantial delays, primarily due to the COVID-19 pandemic, leading to 336 grants receiving no-cost extensions. The GCF is implementing operational improvements, including the Readiness Results Management Framework (RRMF) and the Portfolio Performance Management System (PPMS), to enhance reporting and efficiency.