At its nineteenth meeting, the GCF Board requested the Independent Evaluation Unit (IEU) to develop the GCF’s Evaluation Policy. 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 policy
The 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.