GCF 26th Meeting of the Board (B.26) Ben Bartle Senior consultant - - PowerPoint PPT Presentation
GCF 26th Meeting of the Board (B.26) Ben Bartle Senior consultant B.25: Presentation overview P2 Observations from the meeting Update on policies and reports: Diana Dorman Projects approved and portfolio Accreditation of new
Ben Bartle Senior consultant
P2
▪ Observations from the meeting ▪ Update on policies and reports: Diana Dorman ▪ Projects approved and portfolio ▪ Accreditation of new Entities (AEs) ▪ Moving forward ▪ Report from the Private Sector Observer: Margaret-Ann Splawn from Climate Markets & Investments Association (CMIA)
Photo credit: Green Climate Fund
P3
Loss of Leo Paat from GCF Secretariat
First virtual board
Changes in agenda: No policy approved and a number of reports not released
Guidelines on the programmatic project approach also dropped – to be covered later
Formal request for informal board sessions between B.26 & B.27
COVID: Impact on projects and the functioning of the board in virtual setting
15 projects approved, with some delay and debate
2 new accreditation approvals, with some controversy
P4
Independent Unit Reports - Jo Puri – IEU Report
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Jo is leaving the IEU after B.26 – has a new role
Legacy Recommendations:
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Clarify definitions on country ownership and consider it an eligibility criterion
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Consider co development and co implementation between IAEs and DAEs of GCF investments
Build capacity of DAES
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Develop new positive ESS standards that commensurate with GCFs climate mandate (go beyond do-no- harm
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Fully operationalize the MAF for realizing environmental and social co benefits
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Have a policy on stakeholder engagement
P5
Overview of portfolio, board members and observers note:
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90% of Funded Activity Agreements have now been approved 116 projects Implementation rate of 80%, about 2/3 of portfolio is now disbursing
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Overall low level of adaptation projects and public projects, reduced number of private sector projects
Distinct lack of 1) sustainable transport 2) infrastructure and 3) MSME projects
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Significant number of lapsing projects and total funding amounts
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Comment from a board member: “Instead of being supply driven, the GCF needs to proactively drive its pipeline”
P6
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High number of submissions, 15 projects approved – GCF total portfolio USD 6.2B
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Additions of Afghanistan and Sudan
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7 proposals not progressed due to the Independent Technical Advisory Panel
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2 proposals deferred to B.27 due to AE’s prioritizing public sector programmes
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Higher number of International Access Entities (IAE) than Direct Access Entity (DAE), (86% funding to IAE) Breakdown of new projects
Green Climate Fund B.26 ‘consideration of funding proposals’ document - GCF/B.26/02/Rev.02
P7
Table: Green Climate Fund B.25 ‘consideration of funding proposals’ document - GCF/B.25/02/Rev.01
P8
Table: Green Climate Fund B.25 ‘consideration of funding proposals’ document - GCF/B.25/02/Rev.01
P9
Two new accredited entities, one withdrawal of accreditation application and one upgrade: ▪ New: La Banque Agricole (LBA) – Direct Access, National (Senegal), private sector, small projects ▪ New: United Nations Industrial Development Organization (UNIDO), international access, small projects ▪ Withdrawn: Sumitomo Mitsui Banking Corporation (SMBC), international access, private sector, large projects ▪ Upgrade: Pegasus Capital Advisors, L.P. (PCA), private sector, large projects (upgrade)
P10
Report from the Secretariat:
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LDCs suffering most under COVID – internet access an issue, to take into account with
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Readiness grants have received approval for extension
Need for green recovery stimulus – co-benefits in climate action and economic stimulus, GCF seeking to create green jobs in response to COVID-19 impact
Report from Civil Society Observer that in the face of COVID stakeholder engagement has worsened
P11
Controversial revisions to the Readiness and Preparatory Support Programme, as one board member dulled down the text for Readiness support overnight related to green stimulus as and additional support for updating NDCs
Unclear and more open-ended interpretation on the use of GCF Readiness
The original text was put in front of the Board again and revised – including the text on green recovery, which was subsequently approved
P12
Multilateral Organization Performance Assessment Review of GCF
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Objections from board member
Procedural issues – lots of issues with process understanding
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GCF board needs to discuss and approve MOPAN review for it to go forward
Date and Venues of Upcoming Board Meetings
Deferred to decision made at B.25, that the board will most likely be held virtually 9 to 12 November given the exceptional circumstances.