At COP 16 held in Cancun, by
decision 1/CP.16, Parties established the Green Climate Fund
(GCF) as an operating entity of the Financial Mechanism of the Convention under Article 11. The Fund is
governed by the GCF Bo ard and it is accountable to and functions under the guidance of the COP to support
projects, programmes, policies and other activities in developing country Parties using thematic funding
The GCF was designed by the Transitional Committee (TC) as per decision 1/CP.16, paragraph
109. Based on the report of the TC (
Add.1), at COP 17 held in Durban, Parties adopted decision 3/CP.17 and
approved the Governing
Instrument for the GCF.
The Governing Instrument for the GCF stipulates that 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. In 2015, the GCF Board invited the World Bank to continue serving as the
Interim Trustee until a permanent Trustee is appointed (
Board decision B.08/22). The process to appoint the permanent Trustee should be finalized no later than
the end of 2017.
At COP 18 held in Doha, Parties requested the Standing
Committee on Finance and the GCF Board to develop arrangements between the COP and the GCF for agreement
by the Board and subsequent agreement by the COP. Parties recognized that the provisions contained in Article
11, paragraph 3, and decision 3/CP.17 and the governing instrument of the GCF contained in the annex to 3/CP.17 form
the basis for the arrangements between the COP and the GCF. At COP 19 held in Warsaw, Parties agreed to the
arrangements between the COP
and the GCF to ensure that the GCF is accountable to and functions under the guidance of the COP.
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. At COP 19, Parties welcomed the establishment of the independent GCF
secretariat and provided initial guidance to the GCF.
At COP 21 held in Paris, by decision
1/CP.21, paragraph 58, the COP decided that the GCF shall serve the Paris Agreement. The COP also decided
that the guidance to the entities entrusted with the operation of the Financial Mechanism of the Convention
in relevant decisions of the COP, including those agreed before adoption of the Paris Agreement, shall apply
Article 9 of the Paris
Agreement states that the institutions serving the Agreement, including the operating entities of the
Financial Mechanism of the Convention, shall aim to ensure efficient access to financial resources through
simplified approval procedures and enhanced readiness support for developing country Parties, in particular
for the least developed countries and small island developing States, in the context of their national
climate strategies and plans.
Guidance provided in decision
-/CP.22, Report of the Green Climate Fund to the Conference of the Parties and guidance to the Green
The COP welcomed the actions taken by the GCF Board in response to previous guidance from the COP as
contained in decisions 3/CP.17, 6/CP.18, 4/CP.19, 7/CP.20 and 7/CP.21 and looked forward to the ongoing and
timely implementation of the GCF Board decisions and guidance received from the COP, including the strategic
plan, and the scaling up of investments in ambitious country-driven climate action.
The COP urged the GCF Board to finalize in a timely manner its work related to the guidance of the COP on
financing for forests as mandated by decision 7/CP.21, paragraphs 23–25;
The COP requested the GCF Board to facilitate an increase in the amount of direct access proposals in the
pipeline and to report to the COP on progress made in this regard. COP 22 also requested the GCF Board to
take into account decision 1/CP.21, paragraph 64, to enhance the coordination and delivery of resources to
support country-driven strategies through simplified and efficient application and approval procedures, and
through continued readiness support to developing country Parties, including the least developed countries
and small island developing States, as appropriate, and in accordance with Board decisions.
The COP further requested the GCF Board to enhance the delivery of resources by addressing those measures
that are delaying the implementation of projects that have been approved by the Board, including the
conclusion of pending accreditation master agreements and funded activity agreements.
The COP encouraged the GCF Board to implement its decision B.04/08 to develop modalities to support
activities enabling private sector involvement in the least developed countries and small island developing
States, and to seek opportunities to engage with the private sector, including local actors, on adaptation
action at the national, regional and international levels.
Additional guidance to the GCF was provided in the following decisions:
Decisions by COP 22:
climate technology development and transfer through the Technology Mechanism
between the Technology Mechanism and the Financial Mechanism of the Convention
Committee on Capacity-building
Improving the effectiveness of the Doha work programme on Article 6 of the Convention
Conclusions by the Subsidiary Body for Implementation 45:
Agenda Item 14(c): Paris
Committee on Capacity-building