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 Entities (AEs) ▪ Moving forward ▪ Report from the Private Sector Observer: ▪ Photo credit: Green Climate Fund Margaret-Ann Splawn from Climate Markets & Investments Association (CMIA )

Observations from B.26 P3 ▪ Loss of Leo Paat from GCF Secretariat ▪ COVID: Impact on projects and the functioning of the board in ▪ First virtual board virtual setting ▪ Changes in agenda: No policy approved and 15 projects approved , with ▪ a number of reports not released some delay and debate Guidelines on the programmatic project ▪ ▪ 2 new accreditation approach also dropped – to be covered later approvals , with some ▪ Formal request for informal board sessions controversy between B.26 & B.27

B.26 – Policies and reports P4 ▪ Independent Unit Reports - Jo Puri – IEU Report ▫ Jo is leaving the IEU after B.26 – has a new role ▪ Legacy Recommendations: ▫ Clarify definitions on country ownership and consider it an eligibility criterion ▫ Consider co development and co implementation between IAEs and DAEs of GCF investments ▫ Build capacity of DAES ▫ Develop new positive ESS standards that commensurate with GCFs climate mandate (go beyond do-no- harm ▫ Fully operationalize the MAF for realizing environmental and social co benefits ▫ Have a policy on stakeholder engagement

B.26 - Project approvals P5 ▪ Overview of portfolio, board members and observers note: ▫ 90% of Funded Activity Agreements have now been approved 116 projects Implementation rate of 80%, about 2/3 of portfolio is now disbursing ▫ 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 ▫ Significant number of lapsing projects and total funding amounts ▫ Comment from a board member: “Instead of being supply driven, the GCF needs to proactively drive its pipeline”

B.26 – Project approvals P6 Breakdown of new projects High number of submissions, 15 projects ▪ approved – GCF total portfolio USD 6.2B Additions of Afghanistan and Sudan ▪ 7 proposals not progressed due to the ▪ Independent Technical Advisory Panel 2 proposals deferred to B.27 due to AE’s ▪ prioritizing public sector programmes ▪ Higher number of International Access Entities (IAE) than Direct Access Entity (DAE), (86% funding to IAE) Green Climate Fund B.26 ‘consideration of funding proposals’ document - GCF/B.26/02/Rev.02

B.26 projects P7 Table: Green Climate Fund B.25 ‘consideration of funding proposals’ document - GCF/B.25/02/Rev.01

B.26 projects P8 Table: Green Climate Fund B.25 ‘consideration of funding proposals’ document - GCF/B.25/02/Rev.01

Accreditation of Entities 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)

Readiness & Preparatory Support Programme P10 ▪ Report from the Secretariat: ▫ LDCs suffering most under COVID – internet access an issue, to take into account with online capacity building programmes ▫ 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

Readiness & Preparatory Support Programme 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

Moving forward P12 ▪ Multilateral Organization Performance Assessment Review of GCF ▫ Objections from board member ▫ Procedural issues – lots of issues with process understanding ▫ 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.