Green Climate FundAt COP 16 held in Cancun, by decision 1/CP.16, Parties established the Green Climate Fund (GCF) as an operating entity of the Financial Mechanism of the Convention. The relationship between the COP and the GCF is stipulated in the arrangements between the two, as contained in decision 5/CP.19. The Fund is governed by the GCF Board and it is accountable to and functions under the guidance of the COP to support projects, programs, policies and other activities in developing country Parties using thematic funding windows.