At COP 16, the COP adopted decision 1/CP.16 in which it
decided to establish a Green Climate Fund (GCF), to be designated
as an operating entity of the Financial Mechanism of the Convention under Article 11, with arrangements to be
concluded between the COP and the Green Climate Fund to ensure that it is accountable to and functions under
the guidance of the COP. The Green Climate Fund will support projects, programmes, policies and other
activities in developing country Parties using thematic funding windows.
The Fund will be governed by the GCF Board comprising 24 members, as well as alternate members, with equal
number of members from developing and developed country Parties. The assets of the GCF shall 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 shall support the
operations of the Fund.
The COP also decided that the GCF was to be designed by a Transitional Committee (TC) in accordance with the
terms of reference in Annex III to decision
1/CP.16 . The TC comprised 40 members, with 15 members from developed country Parties and 25 members from
developing country Parties, with members having the necessary experience and skills, notably in the area of
finance and climate change.
In accordance with these terms of reference, the TC was to develop and recommend for approval to COP 17 a
number of operational documents for the GCF. In the conduct of its work, the COP requested the TC to
encourage input from all Parties and from relevant international organizations and observers.
The COP also requested the secretariat, in consultation with the President of the COP, to make arrangements
enabling relevant United Nations agencies, international financial institutions and multilateral development
banks, along with the secretariat and the Global Environment Facility, to second staff to support the work of
The COP also determined that the meetings of the TC were to be open to observers.
At COP 17 held in Durban, the COP adopted decision 3/CP.17, in which
Parties welcomed the report of the TC (
FCCC/CP/2011/6 and Add.1) and approved the governing instrument for the
For more information on the current status of the Green Climate Fund click here.