Understaffed and buffeted by politics, the Green Climate Fund, a UN initiative to bring climate finance to developing countries, is struggling to define itself. The GCF started operations last year after coaxing $10.3 billion from governments. Today its board meets in Songdo, South Korea, to weigh up proposals—and to mull appointing a new boss: the old one left, warning that the wrong projects were being financed. So far the board has approved every proposal put to it, from wastewater management in Fiji to weather-warning systems in Malawi. “The GCF is under pressure to be everything to everyone,” says Niranjali Amerasinghe of the World Resources Institute, a research organisation. Bankers want to lure investment from pension funds; the World Bank is promoting dam projects; civil-society groups demand “locally driven” development. The time has come for the GCF to define a coherent strategy; it can’t give everything a green light.