Transitional Committee suggested by the co-facilitators of work stream I Submitted through the UNFCCC constituency of Research and Independent NGOs

It would not be rational to establish/operationalised a new climate fund if it is just the same as all the other existing international climate funds. Expectations are that the GCF will, in the longer term, will have an annual turnover in double digit billion dollar figures. It is also clear that such a turnover will not be possible at the outset, not only because of a lack of available funds, but also because of the inevitable initial lack in the ability to process and absorb funds at that scale. It is thus crucial, if the intention is indeed to have a fund that will work at the expected scale, that the architecture of the GCF is flexible enough to permit the envisaged scaling up of turnover in the envisaged timeframe.