Question

To ask the Secretary of State for Energy and Climate Change, pursuant to his Written Statement of 18 December 2014, HCWS143, on Lima Climate Change Conference, what steps he has taken to ensure that the UK's contribution to the Green Climate Fund will deliver value for money.

In order to ensure value for money for the UK’s contribution, we are actively engaging in developing and monitoring the performance of the policies that govern the Fund. Through our seat on the Green Climate Fund (GCF) Board and the GCF Investment Committee, the UK is working with other Board members to agree:

· A strong investment policy against which all funding proposals will be assessed;

· A robust results management framework to ensure project results are accurately measured and evaluated; and

· Stringent criteria (including fiduciary standards and environmental and social safeguards) that will apply to all entities accredited to deliver GCF projects.

Through regular monitoring and evaluation, the UK, along with other Board members, will ensure that the GCF delivers real world outcomes and good value for money in a broad range of countries.