The Green Climate Fund (GCF) was first proposed at the United Nations Framework Convention on Climate Change (UNFCCC) in Copenhagen in 2009.

This working paper argues that the design of the fund appears to reflect many lessons from the experience of other funds, but the broader strategic foundation may be flawed.  It suggests that if the GCF is to offer any prospect of meeting its original objectives, it will be necessary to ensure that:
A) The design will allow clear linkage between activities financed by the fund and the expected results of these activities.
B) The governance meets the needs of both developing and developed country partners.
C) There is a flexible approach to funding.
D) That the Fund is designed to be cost-effective.
E) The strategic approach does not result in further fragmentation of the climate change aid framework.

This paper presents a brief summary of the proposed fund and its history through to May 2013. Some of the key lessons learned from other Global Funds are summarised and the extent to which the current approach to the GCF reflects these analyzed.