GEF Report to the UNFCCC COP20
The GEF is an operating entity of the financial mechanism of the UNFCCC and as such it functions under the guidance of and is accountable to the Conference of the Parties (COP), which decide on its policies, program priorities and eligibility criteria related to this Convention. To operationalize the financial mechanism, the COP and the GEF Council agreed to a memorandum of understanding (MOU) in 1996.