During the thirty-fourth meeting of the GCF Board, the 2023 IEU workplan was approved, which includes an Independent Evaluation of the GCF’s Investment Framework. The evaluation broadly assesses the relevance and effectiveness of the GCF’s investment framework in fulfilling the GCF’s mandate and strategic goals. It considers all relevant policies, tools, frameworks, and processes that come into play to enable the GCF to identify high-quality climate change projects and make investment decisions.

The approach paper outlines the evaluation’s background, methods and approaches. It includes the evaluation’s questions, timelines and deliverables. It also describes the evaluation team’s structure and responsibilities.