Clean Technology Fund（CTF）Finance and Risk Management Standing Committee（FRMSC）- Terms of Reference (TOR)

Sep 4, 2026

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Terms of Reference define the Clean Technology Fund (CTF) Finance and Risk Management Standing Committee (FRMSC) and its mandate to support the CTF Trust Fund Committee (TFC). The FRMSC absorbs the prior CCMM Sub-Committee role and expands oversight to finance and risk functions, including finance-related arrangements, risk management practices, liquidity planning, forecasts, funding strategies, and investment policies. It provides strategic guidance, reviews eligibility criteria for high leverage instruments, monitors the risk management system, and oversees CCMM operations and compliance.

LanguageEnglish

CategoryResearch & Report

FormatPDF

Pages5

Reading Time13 min

AccessFree to download

Purpose and Mandate

Authority

Composition

Membership Terms and Rotation

Roles and Responsibilities

Terms of Reference (TOR) for the Clean Technology Fund ( CTF ) Finance and Risk Management Standing Committee (FRMSC) 1. Purpose and Mandate The CTF Finance and Risk Management Standing Committee ( FRM SC) is established to provide support to the Clean Technology Fund (CTF) Trust Fund Committee (TFC) in fulfilling its ongoing oversight of financial, capital market, and risk management matters related to the CTF, including those associated with the CIF Capital Market Mechanism (CCMM) . The FRM SC will absorb the role and responsibilities of the CCMM Sub‑Committee in place before and extend its mandate to cover broader finance and risk oversight functions for the CTF. The FRM SC aims to: 1. Provide financial and risk management oversight: Oversee finance‑related arrangements and risk management practices for the CTF. 2. Advise on financial strategy and operations: Provide advice and recommendations to the CTF TFC on financial strategy, capital market activities, liquidity, and risk management. 3. Oversee CCMM operations: Undertake the CCMM oversight functions currently discharged by the CCMM Sub‑Committee, ensuring compliance with relevant legal agreements and market requirements. 4. Strengthen financial governance: Support ongoing strengthening of CTF’s financial governance and operations, including treasury, investment, and risk frameworks. 2. Authority Establishment: • The FRM SC is established by the decision of the CTF TFC at the Joint Meeting on June 10, 2025, and under Section H.9.j of the Governance Framework for the CTF and the Clean Technology Parallel Fund. Authority and limitations: • At the direction of the CTF TFC, the FRM SC will have authority to explore specifics topics and carry out review and advisory functions to, and for, the CTF TFC. • The FRM SC will make recommendations, including recommending a truncated set of options or recommendations, for CTF TFC decision or approval. • The FRM SC has no executive powers and is not a decision-making body. 3. Composition SC Membership: Members will determine what recommendations and/or advise will be provided to the CTF TFC. • The FRM SC will consist of up to six members: up to three representatives from contributor countries and up to three representatives from recipient countries, nominated from among CTFTFC members. • Occasionally, members may delegate their participation to an alternate from their team. Additional Participants: Additional Participants will provide an advisory or informational role to the SC. • CIF Secretariat. • Two representatives from Treasury Manager, to be selected by and from Treasury Manager departments. • One representative from CTF Trustee. • Two MDB representatives, to be selected by and from the MDB Committee. Ad Hoc Participants: Ad Hoc Participants will provide an advisory or informational role to the SC. • Additional participants, such as CIF observers, MDB representatives with subjectmatter expertise, or independent experts, may be invited on an ad hoc basis depending on subject matter and confidentiality requirements in an advisory capacity. • Each FRM SC member may invite one advisor. Selection: • FRM SC Members will be nominated and appointed by the CTFTFC following a virtual call for expressions of interest amongst CTF TFC members, to be launched atthe end of the previous term. • If a membership seat becomes vacant, The FRM SC Chair should notify the CTFTFC and issue a call for an expression of interest. If a TFC member expresses interest, they should fill the seat; otherwise, the seat may remain vacant for the rest of the term. Chairs: • One Chair and an alternate Chair will be appointed from among the FRM SC members – one from contributor countries and one from recipient countries. • The alternate Chair will chair the SC meetings when the Chair is not available. 4. Membership Terms and Rotation Term Length: • FRM SC members will serve fixed terms

FAQs

What is the purpose of the FRMSC under the TOR?

The FRMSC supports the CTF TFC by providing oversight and advisory functions covering financial, capital market, and risk management matters related to the CTF, expanding beyond the previous CCMM Sub-Committee mandate.

What authority does the FRMSC have?

The FRMSC has authority to explore specific topics and carry out review and advisory functions to, and for, the CTF TFC at the direction of the CTF TFC, including making recommendations for decision or approval.

How is the FRMSC composed and how are members selected?

The FRMSC consists of up to six members with representatives from contributor and recipient countries, plus additional and ad hoc participants in advisory or informational roles. Members are nominated and appointed by the CTFTFC following a virtual call for expressions of interest.

Sep 4, 2026

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