Data as of 31 March 2020

Risk Dashboard Q1 2020Summary:•Portfolio concentration levels within the approved risk tolerance levels•Fund liquidity within the approved risk tolerance levels•Foreign exchange commitment risk buffer of USD 74.2 million equivalent•No non-performing loans

AdaptationAdaptation26%

AdaptationCross-cutting14%

MitigationCross-cutting22%

MitigationMitigation39%

Africa40%

Asia-Pacific35%

Eastern Europe4%

LATAM & Car.20%

National7%

International86%

Regional7%

Micro3%Small18%

Medium40%

Large40%

Equity9%

Grants48%Results-Based Payment

4%

Loans38%

Guarantees1%

Public61%

Private39%

Geographic Distribution(6)Reasonable and fair allocation across a broadrange of countries

Project Size(5)

Entity Access

1.2 Portfolio Distribution of Approved Funding Proposals(4)1.1 Key Portfolio Metrics USD million eq.Totals reflect funding proposals approved at B.25.

Financial Instrument

1. Portfolio Overview

As a % of GCF approved amount of USD 5.61 billion eq.Portfolio snapshot of 129 approved FPs.

81%

19%

Sector(7)Maximize fund-wide engagement with theprivate sector

Nominal

Grant Equiv.

Nominal

Grant Equiv.40%

15%17%

29%

Mitigation

Adaptation

IRM Pledged

GCF-1 Pledged (1)

Total Cash/Promissory Notes with theTrustee

Cash component of Total

PN component of Total

Total Signed Cash/Promissory NotesRemaining to be Deposited

Commitment authority (2)

10,300

9,802

7,113 ▲11.9%

4,555

2,558 ▲27.8%

2,046 ▼ -25.3%

1,634 ▲120.8%

Funding

GCF Approved to Funding Proposals

GCF Approved Funding UnderImplementation (3)

GCF Disbursed to Funding Proposals

Total Value of Approved FundingProposals (including GCF's funding)

Approved Budget for Readiness andPPF

Disbursed Readiness and PPF

5,613

3,960 ▲ 17.0%

1,009 ▲ 11.5%

19,714

354

102 ▲ 19.7%

Commitments

▲▼ +/-5% QoQ

See appendix for all footnotes and data sources

Target Areas(7)50/50 funding balance between adaptation andmitigation

2

UNDP EBRD ADB WorldBank AFD

4.2%4.7%5.8%10.2%10.4%

Energy accessand powergeneration

Health andwell-being, andfood and watersecurity

Mostvulnerablepeople andcommunities

Infrastructureand builtenvironment

Buildings,cities, andindustries andappliances

7.2%7.2%8.0%8.2%

26.1%

Tolerance level 50%

FP025 FP095 FP038 FP039 FP077

1.8%1.9%3.3%3.3%4.7%Tolerance level 10%

2016 2017 2018 2019 Cash endQuarter

Projected Q12021

4,2024,5554,3533,8223,3811,824

USD EUR JPY GBP SEK = Total

2,495

864 890 593

(371)

519

Balance

As a % of the total investible amount of USD 8.1 billion eq.

USD EUR JPY GBP SEK

864890593390

4,377

USD EUR JPY GBP SEK(3,858)

(761)00 0

2.2 Foreign Exchange Risk(2) USD million eq.Moderate Risk ToleranceUSD commitments will be covered by the conversion of non-USD promissory notes toUSD when encashed.

Results Areas (Top 5)

2.1 Investment Concentration by Approved Funding(1)

+

Moderate Risk ToleranceLower concentration ratios compared to the prior quarter are due primarily to thenew funding approvals at B.25 and an increased total investible amount.

Funding Proposal (Top 5)

Accredited Entity (Top 5)

2. Concentration and Funding

Investment commitments(3)

Projected liquid asset portfolio 12 months forward is USD 4.2 billion eq.

Cash + Promissory Notes

74.2 ▼ -14.7%

▲▼ +/-5% QoQ

Cash PN

▲▼ +/-5% QoQ

See appendix for all footnotes and data sources

FX Commitment risk buffer 20% (USD million eq.) =

2.3 Liquidity(4) USD million eq.Moderate Risk Tolerance

3

Project/Programme Description

FP006 Lapsed as of 26 September 2018.

FP027 The GCF Board approved the restructuring at B.25

FP030 Lapsed as of 28 July 2018.

FP038 The GCF Board approved the restructuring at B.25

FP054 Lapsed as of 27 June 2019.

FP065 Lapsed as of 16 February 2020.

3.1 Project/Programmes with Notable Issues and/or Delayslast two yearsThe status of all approved projects, including AMA and FAA effectiveness, can befound in the Board document Status of the GCF Portfolio on the GCF website.

ProjectRequester Status Date

FP001 IRM initiated Time limitextended 08-May-19

FP043 Confidential Eligible 16-Feb-20

Ab..

Ab..

3.3 Independent Redress Mechanism last two yearsZero Risk ToleranceInformation available on the GCF website.Complaints and Grievances

3. Project/ Programme Delays and Illegal Practices/Integrity Breaches/ Policy Breaches

Requests for Reconsideration None

3.2 Independent Integrity Unit last two years(1)Zero Risk ToleranceIIU information about investigation activities is updated in the relevant Boarddocuments.

See appendix for all footnotes and data sources

Year 2018 2019

Number of Cases Opened

Number of Cases Closed

Intake Assessment

Preliminary Assessment

Investigation

4021

365

5

13

18

3

2

0

4

4.1 Non-Performing LoansUSD million eq.There are no non-performing loans for the past 8 quarters. Office of PortfolioManagement will report regularly on loan performance through its PortfolioPerformance Report.

4. Financial Investment Risk

FP# GCF Disbursed Amount GCF Approved AmountFP048

FP071

FP093 3.2

75.0

1.5

0.0

0.0

0.0

4.3 GuaranteesUSD million eq.Considerable Risk ToleranceOffice of Portfolio Management will report regularly on GCF guarantees throughits Portfolio Performance Report.

See appendix for all footnotes and data sources

FP# GCF Disbursed Amount GCF Approved Amount

FP005

FP078 23.0

20.0

0.6

11.0

4.2 Equity Investments(1)USD million eq.Considerable Risk ToleranceOffice of Portfolio Management will report regularly on GCF equity investmentsthrough its Portfolio Performance Report.

5

Appendix Funding Proposals referenced in the Risk DashboardUSD million eq.

Approved RefSectorProject Name Entities Regions List Theme Instruments List Total Budget Total GCF Budget

FP006 PrivateEnergy Efficiency Green Bond Programme inLatin America and the Caribbean IDB Latin Americaand the Carib..Mitigation

Equity,Grants,Guarantees,Senior Lo..184.50M 22.00M

FP030 PrivateCatalyzing private investment in sustainableenergy in Argentina – Part 1 IDB Latin Americaand the Carib..Mitigation

Equity,Grants,SeniorLoans 653.00M 133.00M

FP054 Public Implementation Project of the IntegralManagement Plan of the Lujan River Basin CAF Latin America

and the Carib..Adaptation Grants,Senior Loans 315.35M 58.53M

FP065 Public Financial Instruments for Brazil EnergyEfficient Cities (FinBRAZEEC) WorldBankLatin Americaand the Carib..Mitigation

Equity,Grants,Guarantees,Senior Lo..1,306.00M 195.00M

FP001 Public Building the Resilience of Wetlands in theProvince of Datem del Marañón, Peru Profonan..Latin Americaand the Carib..Cross-cutting Grants 9.11M 6.24M

FP005 PrivateKawiSafi Ventures Fund Acumen Africa Cross-cutting Equity,Grants 110.00M 25.00M

FP025 PrivateGCF-EBRD SEFF Co-financing Programme EBRD Africa,Asia-Pacific, ..Cross-cutting Grants,Senior Loans 1,385.00M 378.00M

FP027 PrivateUniversal Green Energy Access Programme(UGEAP) Deutsche..Africa Mitigation Equity,Grants 301.60M 80.00M

FP038 PrivateGeeref Next EIB Africa,Asia-Pacific, ..Mitigation Equity,Grants 765.00M 265.00M

FP039 PrivateGCF-EBRD Egypt Renewable EnergyFinancing Framework EBRD Africa Mitigation Equity,Grants,SeniorLoans 1,007.00M 154.70M

FP043 Public The Saïss Water Conservation Project EBRD Africa Adaptation Grants,Senior Loans 228.11M 35.29M

FP048 PrivateLow Emissions and Climate ResilientAgriculture Risk Sharing Facility IDB Latin Americaand the Carib..Cross-cutting

Equity,Grants,Guarantees,Senior Lo..158.00M 20.00M

FP071 Public Scaling Up Energy Efficiency for IndustrialEnterprises in Vietnam WorldBankAsia-Pacific Mitigation Equity,Grants,

Guarantees,Senior Lo..497.20M 86.30M

FP077 Public Ulaanbaatar Green Affordable Housing andResilient Urban Renewal Project (AHURP) ADB Asia-Pacific Cross-cutting Equity,Grants,SeniorLoans,Subordinated L..570.11M 145.00M

FP078 PrivateAcumen Resilient Agriculture Fund (ARAF) Acumen Africa Adaptation Equity,Grants 56.00M 26.00M

FP093 Public Yeleen Rural Electrification Project in BurkinaFaso AfDB Africa Mitigation Equity,Grants,

Guarantees,Senior Lo..58.61M 26.82M

FP095 PrivateTransforming Financial Systems for Climate AFD Africa, LatinAmerica and ..Cross-cutting Grants,Senior Loans 720.75M 264.90M

6

Appendix Footnotes in the Risk DashboardPage 31. GCF-1 pledged is included for the first time in the risk dashboard Q4 2019. As per the policy for contributions approved at B.24 (decision B.24/02) para 26, a notionalcredit has been applied to the pledges made by contributors who have indicated to make payments in advance of the standard schedules.2. See the Status of the GCF resources on the GCF website.3. Once a Funded Activity Agreement (FAA) is effective, a project is considered to be under implementation.4. Portfolio targets were established in Decision B.06/06. GCF Financing as approved by the Board and adjusted by FAAs.5. Project/Programme size category (USD million): micro =<10, small 10–50, medium 50–250, large >250.6. Projects/programmes spanning multiple countries are split equally among the countries, when country specific data is not available.7. A description of breakdowns by mitigation/adaptation for cross-cutting projects and the grant equivalent methodology can be found in the Status of the GCF Portfolio onthe GCF website.Sources: GCF website, GCF Trust Fund Financial Report (GCFTF), GCF’s internal Integrated Portfolio Management System, GCF Division of External Affairs (DEA), GCFOffice of Portfolio Management (OPM).

Page 41. Ratios measured as (Notional amounts approved to funding proposals/total investible amount). Total investible amount is equal to the sum of liquid assets, promissorynotes deposited and amounts disbursed to live projects/programmes. See Decision B.17/11 for definitions and risk tolerance levels.2. All cash contributions at the Trustee are held in holding currencies. FX commitment risk buffer calculation in decision B.19/04. Exchange rates used are from actualencashment date or end of quarter.3. Approved to FPs, Readiness and Project Preparation Facility proposals, including AE fees, net of disbursements. Approved Readiness and Project Preparation Facilityproposals are approved budgets.4. Calculation: Current liquid asset position (securities, cash, or cash equivalents) – projected outflows + projected inflows = projected liquid asset position 12 monthsforward.Sources: GCF’s internal Integrated Portfolio Management System, GCFTF Financial Report, GCF Division of Support Services (DSS), GCF Office of Portfolio Management(OPM), GCF Division of External Affairs (DEA)

Page 51. GCF Independent Integrity Unit, Annual Reports of the Independent Integrity Unit, Report on the activities of the Independent Integrity Unit. Data available sinceNovember 2016. Currently, the investigative process of the IIU consists of three phases: (1) intake assessment, (2) preliminary assessment, and (3) investigations phase.Sources: GCF Office of Portfolio Management (OPM), GCF Independent Integrity Unit (IIU), GCF Private Sector Facility (PSF), GCF Division of Mitigation and Adaptation(DMA), GCF Independent Redress Mechanism (IRM).

Page 61. Total disbursements include management fees and other expenses.Sources: GCF Office of Portfolio Management (OPM), GCF’s internal Integrated Portfolio Management System.

7