Tuvalu Climate Change and Disaster Survival Fund commonly referred (to as TSF) was established in December 2015 and came into effect on the 2nd January 2016. 

The objective of the TSF is to

• Provide immediate vital services to the people of Tuvalu in combating the devastating impact of climate change and natural disasters; and
• Allow the Government and the people of Tuvalu to respond to future climate change impacts and natural disasters in a coordinated, effective, and timely manner.

The eligible uses of TSF include financial assistance for emergency relief, disaster recovery and rehabilitation, and climate change adaptation. The TSF Act establishes a Board as a governing body of the Fund with the responsibility for the policy control, strategic direction, and regulation of the Fund. The Board is comprised of three members: The Minister for Finance (Chairperson), the Secretary General of the Tuvalu Rec Cross, and the Permanent Secretary for the Ministry of Local Government and Agriculture. The TSF also establishes a Committee, chaired by the Secretary to Government, which is tasked to assess applications received by the TSF. The Committee provides its recommendations to the TSF Board for approval.                                                                                       

Functions and Powers of the Board are set out in Sections 8 & 9 of the Tuvalu Climate and Disaster Survival Fund.

• The Board shall meet at least once a year at the beginning of the financial year, and without delay whenever necessary and when assessment reports have been referred to it by the Committee.
• In the absence of the statutory member from a meeting of the Board the function shall be fulfilled by the person officially designated to act in the office of the member.
• Meetings of the Board are convened by the Minister responsible for finance.
• The quorum for a meeting of the Board is 3 members.
• All decisions of the Board must be unanimous.
• The Trustees shall serve without remuneration or other reward.
• The Board shall subject to the Act and these Regulations establish its own rules of procedures Secretariat of the Board.
• Climate Change Department act as the Fund Secretary to the Board.