Having considered the report of the Ethics and Finance Committee (EFC) and the presentation by the Chair of the EFC, the Adaptation Fund Board decided: 

(a) To adopt the approach to implementing results based management, outlined in the document AFB/EFC.1/3/Rev.2, to be implemented in the Adaptation Fund;

(b) To further adopt the Strategic Results Framework for the Adaptation Fund and the Adaptation Fund Level Effectiveness and Efficiency Results Framework of the RBM document, contained in annex IV to the present report;

(c) To request the secretariat to develop:

i. A monitoring and evaluation framework and guidelines for terminal evaluation;

ii. A practical guide or manual on how project baselines and project results frameworks may be prepared;

iii. Guidance for project performance reports which will include a proposal on how to move forward with ratings;

iv. An independent project web-based publicly accessible database to maintain the transparency of the Adaptation Fund, which should also include password-protection capabilities, as necessary. The database needed to integrate fully the elements required for proper monitoring of the funded projects which would include the possibility for the secretariat to enter baseline data, milestones, targets, indicators, etc, based on the information provided by the project managers in an agreed template. Project managers should not be able to modify existing data and the database entries for individual projects/programmes should be updated annually in accordance with the annual project/programme report. The development of the system should be fully coordinated with decisions about how performance would be measured; and

(d) To adopt the proposed budget and activities as contained in Table 1 in Annex 3 of document AFB/EFC.1/3.