The Green Climate Fund’s Board meets in South Africa from 2-4 February for an informal session to address the Fund’s objectives and plans for 2016 and beyond.
The last formal Board meeting took place in November 2015, when the Fund approved its first series of investments of USD 168 million, just in time for the 21st Conference of the Parties of the UNFCCC, which led to the adoption of the Paris Agreement on Climate Change. Following that success, the Board decided that it would be useful to dedicate an informal meeting to questions of planning and strategy.
The Cape Town meeting, under the guidance of new Co-Chairs Ewen McDonald (Australia) and Zaheer Fakir (South Africa), will allow the Board time to consider GCF’s strategic objectives, resources, and policies, to best meet the Board’s stated aspiration of committing USD 2.5 billion in project investments by the end of 2016.
Items on the agenda include the adoption of the 2016 Work Plan and development of a GCF Strategic Plan, together with other issues such as staff structure and communications.
The next formal Board meeting is provisionally scheduled to take place in early March, with the following meeting in June, and another in October.
The informal dialogue in Cape Town is expected to confirm dates for all Board meetings in 2016, including the possibility of holding an additional Board meeting at the end of the year to manage the Board’s investment ambitions.
It will be attended by Board members, their alternates and advisers, as well as the four active CSO and private sector observers to the Fund.