Climate Change Fund, 2008–2019

The strategic oversight of funds is enhanced when their governance structure includes some form of third-party engagement. The original Board paper outlined the governance structure of CCF and included at its apex ADB and external financing partners, whose function would be to provide strategic direction to the CCF and to meet ADB for annual consultations and to review progress, administration, and the annual work program. Since there are no external financing partners, ADB sits alone at the apex of the governance structure. The clean energy component of the CCF shows how greater external partner involvement might influence the CCF as a whole, as its management and coordination has been effectively subsumed into the multi-donor CEFPF, for which it shares a common DMF, including specific guidelines for monitoring results. CEFPF progress reports are published online, unlike those of the CCF. The CEFPF receives funds from four external sources and, while this external engagement probably imposes an administrative burden, it may also have contributed to more robust management of the clean energy component of the CCF, which had the highest success rate and greatest number of available completion reports of all the components.