GCF 25th Meeting of the Board (B.25) Ben Bartle Senior consultant - PowerPoint PPT Presentation

GCF 25th Meeting of the Board (B.25) Ben Bartle Senior consultant

B.25: Presentation overview P2 Sticky topics ▪ Projects approved and portfolio ▪ Accredited Entities (AEs) ▪ Update on policies and reports ▪ Moving forward ▪ Private Sector Observer role: ▪ Photo credit: Green Climate Fund Margaret-Ann Splawn from Climate Markets & Investments Associaton (CMIA)

B.25 Overview P3 ▪ B.25 moved to Geneva under exceptional circumstances ▪ Social distancing practices in place ▪ Two new co-chairs in 2020: ▫ Sue Szabo from Canada, representing developed nations ▫ Nauman Bhatti from Pakistan, representing developing nations Social distancing in practice in the GCF Observer room

Sticky topics P4 ▪ COVID-19 and its impact on the functioning of the GCF – possibilities for future Board Meetings this year ▪ Closed doors - majority of Board meeting conducted in executive session ▪ GCF Strategic Plan – working groups attempt to find common ground ▪ Report from the Executive director: ▫ Performance of GCF Requests for Proposals – REDD+, Mobilising Funds at Scale ▫ Accreditation Master Agreements with the private sector

Sticky topics P5 Request for Proposals (RfPs) Ongoing issues REDD+ On REDD+ RfP – CSO Active Observer raised issues and concerns for Phase 2 regarding: ▪ Targeted funds to approved REDD+ projects earlier than expected, ▫ Permanence of carbon storage positive response from first pilot ▫ Avoiding double-counting countries ▫ Verification of engagement of indigenous people Mobilising Funds at Scale & local communities ▪ Project developers finding it ▫ Private sector engagement difficult become accredited to Fund or identify suitable Accredited Accreditation Master Agreements – a stumbling block Entity to mobilising private sector GCF projects & funding

B.25 – Project approvals P6 Breakdown of new projects Low number of funding proposal ▪ submissions – 6 All from International Access Entities (IAE), ▪ none from Direct Access Entity (DAE) Board Member Jeremiah Sokan states the ▪ absence of DAE proposals is inconsistent with the notion of Country Ownership Green Climate Fund B.25 ‘consideration of funding proposals’ document - A stronger portfolio of DAEs will be presented ▪ GCF/B.25/02/Rev.01 in B.26 and B.27, with approximately USD $1bn worth of projects presented at each

B.25 projects P7 Table: Green Climate Fund B.25 ‘consideration of funding proposals’ document - GCF/B.25/02/Rev.01

Accreditation of Entities P8 Board could not agree on approval of new Accredited Entities , due to the late delivery of accreditation documents – these Entities included: ▪ New: Bhutan Trust Fund for Environmental Conservation (BTFEC) - DAE New: Trade and Development Bank of Mongolia (TDB Mongolia) – DAE, ▪ Private sector ▪ Upgrade: Palli Karma-Sahayak Foundation (PKSF) – DAE (Bangladesh) Postponed to between board meetings

B.25 – Policies and reports P9 Strategic planning 2020-2023 – 6 contentious issues for the Board to resolve: ▪ Strategic objective and allocation of GCF resources ▪ Shifting financial flows ▪ Project prioritisation ▪ A range of diversifying instruments ▪ Accreditation prioritisation ▪ Efficient process management and delegation No approval, will be pushed forward to B.26

B.25 – Policies and reports P10 Evaluations – Independent Evaluations Unit (IEU) report from 2018/19 : ▪ Country ownership – completed ▪ Environmental and Social Safeguards – completed ▪ Rapid Assessment of Simplified Approval Process & IEU Assessment – to be presented at B.26 ▪ Synthesis of GCF Accreditation process – to be presented at B.26

Moving forward P11 Progressing the Strategic plan: ▪ Board divided on some key points of strategic plan for the next four years ▪ Some progress made, but unclear as working groups were closed to observers Important dates: ▪ B.26 is tentatively scheduled 23 – 25 June ▪ Given “exceptional circumstances” subject to change