This analysis examined the actual and potential achievements of GCF investments tagged under the Health and Well-being, and Food and Water Security (HWFW) Results Area (RA), identifying key factors that enable or constrain progress, and assessing the overall value of the Fund’s RA approach and portfolio. The study employed a mixed-method approach, including document and portfolio review, stakeholder consultations, field visits, and a benchmarking exercise. Through this process, the importance and usefulness of developing Comparator Briefs, grounded in benchmarking data, emerged as a significant insight.