The paper provides a brief overview of the GCF governing instrument and its operationalisation. It provides insights into current governance structures and also highlights ongoing discussions e.g. on the GCF’s relationship with the UNFCCC and the CoP. Further, the paper describes the legal personality, its operational modalities as well as gives details how countries see the role of the private sector. With regard to social and environmental integrity the publication underlines the need for transparency and a set of standards and safeguards. While shortly analysing the next steps for the GCF to take, the paper emphasises the strong need to secure adequate and sustained funding as “substantial pledges of long term climate finance are necessary to demonstrate real political commitment to the GCF and secure its viability.”