The IEU has consulted extensively within the GCF and among its stakeholders about the policy and sought public comment.
A decision regarding the timing of IEU's submission of the policy to the Board will be announced by the GCF's Co-Chairs in the near future.
Principles for Developing the GCF's Evaluation PolicyThe IEU is the overall guardian of the GCF’s evaluation policy. In developing the policy, the IEU followed well-considered guidelines and principles. Specifically, the IEU:
- Consulted extensively within the GCF and among its stakeholders.
- Clarified the implications of the policy's scope, processes and stakeholders.
- Considered the context of the GCF, including its existing policies and governing mandate, and the guidance provided by the United Nations Framework Convention on Climate Change.
- Included a process for the Evaluation Policy to be revised every five years.
- Defined key principles, such as credible measurement, independence and utility; clarified the roles of GCF partners involved in preparing and implementing projects; and explained the IEU's role and linkages.