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
Ben Bartle Senior consultant
P2
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Sticky topics
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Projects approved and portfolio
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Accredited Entities (AEs)
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Update on policies and reports
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Moving forward
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Private Sector Observer role: Margaret-Ann Splawn from Climate Markets & Investments Associaton (CMIA)
Photo credit: Green Climate Fund
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
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
P5
Request for Proposals (RfPs) REDD+
Targeted funds to approved REDD+ projects earlier than expected, positive response from first pilot countries Mobilising Funds at Scale
Project developers finding it difficult become accredited to Fund
Entity Ongoing issues On REDD+ RfP – CSO Active Observer raised issues and concerns for Phase 2 regarding:
Permanence of carbon storage
Avoiding double-counting
Verification of engagement of indigenous people & local communities
Private sector engagement Accreditation Master Agreements – a stumbling block to mobilising private sector GCF projects & funding
P6
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Low number of funding proposal submissions – 6
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All from International Access Entities (IAE), none from Direct Access Entity (DAE)
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Board Member Jeremiah Sokan states the absence of DAE proposals is inconsistent with the notion of Country Ownership
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A stronger portfolio of DAEs will be presented in B.26 and B.27, with approximately USD $1bn worth of projects presented at each Breakdown of new projects
Green Climate Fund B.25 ‘consideration of funding proposals’ document - GCF/B.25/02/Rev.01
P7
Table: Green Climate Fund B.25 ‘consideration of funding proposals’ document - GCF/B.25/02/Rev.01
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
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
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
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