GCF Board Adopts Business Model Framework

15 March 2013: The Green Climate Fund (GCF) Board concluded its third meeting with the adoption of a series of decisions on, among other things, the Board's rules of procedure, the GCF's business model framework and resource mobilization, and establishment of its independent secretariat.

The meeting, which took place from 13-15 March 2013, in Berlin, Germany, also adopted decisions on modalities for readiness and preparatory support, arrangements between the Conference of the Parties (COP) to the UNFCCC and the GCF, and the GCF logo. Regarding the GCF logo, the Board decided to launch a competition inviting art and design schools, universities and the general public to submit proposals for a GCF logo depicting its ideals and character.

On the GCF's business model framework, the Board noted some areas of convergence on the framework, including that the Fund will be: ambitious, flexible and scalable; employ direct access and other access modalities; and leverage additional public and private resources through the Fund's operational modalities, including through the private sector facility.

Other areas of convergence highlighted by the Board relate to the operational modalities and focus of the Fund. The Board requested the business model framework team and the Interim Secretariat to continue work on the framework based on, inter alia, the areas set out in Annexes XIV and XV to the meeting report. [Publication: Decisions of Third Meeting of the GCF Board] [Documents for the Third Meeting of the GCF Board] [GCF Press Release, 12 March 2013] [GCF Press Release, 26 March 2013]