During COP-16 in Cancun, the issue of governance of the CWG was entrusted to the newly created Green Climate Fund Council and the World Bank was selected as a temporary agent. [3] In order to develop a concept for how the GCF works, the “Transition Committee for the Green Climate Fund” was also established in Cancun. The committee met four times in 2011 and presented a report to the 17th COP in Durban, South Africa. On the basis of this report, the COP decided that the “GCF will become an operational unit of the financial mechanism” of the UNFCCC[5] and that the necessary rules should be adopted at COP-18 in 2012 to ensure that the CGDC “is responsible and must be held accountable under the leadership of the COP.” [5] Researchers at the Overseas Development Institute say that without this last-minute agreement on a government instrument for the GCF, the “African COP” would have been considered a failure. [6] In addition, the CWG Council has been tasked with developing rules and procedures for disbursing funds to ensure that they are consistent with the national objectives of the countries where projects and programmes are implemented. The CWG Board of Directors was also responsible for the establishment of an independent secretariat and a permanent director of the GCC. [5] The Cancun Agreements clearly state that funds made available to developing countries as climate finance, including through the ICC, should be “new” and “in addition” to existing development assistance. [3] The requirement that funds be new means that commitments must be added to those of previous years. With regard to additionality, there is no strict definition of this concept, which has already led to serious problems in assessing the additionality of emission reductions by CDM projects, leading to counter-productivity and even fraud. [24] [25] While climate finance generally covers only commitments made by developed countries, the $10.3 billion pledged to the CWG also includes some (relatively small) contributions from developing countries. [10] Directors: The Conference of the Parties (COP) at the United Nations Framework Convention on Climate Change (UNFCCC) has asked the World Bank to act as acting agent of the Green Climate Fund for a period of several renewable years.