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Green Climate Fund
 
Background

At COP 16, Parties, in pdf-icon decision 1/CP.16 established a Green Climate Fund (GCF) as an operating entity of the financial mechanism of the Convention under Article 11. The GCF will support projects, programmes, policies and other activities in developing country Parties. The Fund will be governed by the GCF Board.

The assets of the GCF will be administered by a trustee only for the purpose of, and in accordance with, the relevant decisions of the GCF Board. The World Bank was invited by the COP to serve as the interim trustee of the GCF, subject to a review three years after operationalization of the Fund. The COP also decided that an independent secretariat will support the operations of the Fund. The COP also decided that the GCF was to be designed by the Transitional Committee (TC).


Update

At COP 17 held in Durban, the COP adopted pdf-icon decision 3/CP.17, in which Parties welcomed the report of the TC (pdf-icon FCCC/CP/2011/6 and Add.1) and approved the pdf-icon governing instrument for the GCF. Arrangements between the COP and the Fund were to be concluded at COP 18 to ensure that it is accountable to and functions under the guidance of the COP. The COP will provide guidance to the Board, including on matters related to policies, programme priorities and eligibility criteria and matters related thereto. The UNFCCC secretariat and the Global Environment Facility secretariat were requested to set up an Interim Secretariat  until the independent secretariat of the GCF is established.

Parties, at COP 18, endorsed the consensus decision of the GCF Board to select Songdo, Incheon, Republic of Korea as the host of the GCF. The GCF Board and the Republic of Korea were requested to conclude the legal and administrative arrangements for hosting the GCF, and to ensure that juridical personality and legal capacity are conferred to the GCF, and the necessary privileges and immunities are granted to the GCF and its officials in an expedited manner.

The COP requested the Board, in its report to COP 19, to report on the implementation of decision 3/CP.17, which, inter alia, requested the Board:
  • To develop a transparent no-objection procedure to be conducted through national designated authorities;
  • To balance the allocation of the resources of the GCFbetween adaptation and mitigation activities;
  • To secure funding for the GCF to facilitate its expeditious operationalization, and to establish the necessary policies and procedures to enable an early and adequate replenishment process;
  • To establish the independent secretariat of the GCF;
  • To select the trustee of the GCF through an open, transparent and competitive bidding process in a timely manner to ensure that there is no discontinuity in trustee services;
  • To initiate a process to collaborate with the Adaptation Committee and the Technology Executive Committee, as well as other relevant thematic bodies under the Convention, to define linkages between the Fund and these bodies, as appropriate.

Furthermore, Parties decided to provide initial guidance to the GCF at COP 19 and requested the GCF Board to expeditiously implement its 2013 workplan, with a view to making the GCF operational as soon as possible.


Arrangements between the Conference of the Parties and the Green Climate Fund

At COP 18 held in Doha, Parties recognized that the pdf-icon governing instrument for the GCF forms the basis for the arrangements between the COP and the GCF. The COP requested the Standing Committee and the GCF Board to develop arrangements between the COP and the GCF for agreement by the Board and subsequent agreement by COP 19.
 
Updated  5 March 2013
 
GCF Board
Website of the GCF

Meetings of the Board

Documents of the Board meetings
 
 Latest documents and decision
pdf-icon Decision 6/CP.18  (Report of the GCF and guidance to the GCF)

pdf-icon Decision 7/CP.18 (Arrangements between the COP and the GCF)

FCCC/CP/2012/5  (First report of the GCF Board to the COP)

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Transitional Committee
More information on the Transitional Committee