News Excerpt:
The 67th session of the Global Environment Facility (GEF), held from June 17-20, 2024 in Washington DC USA, concluded by approving $736.4 million in funding for 34 projects aimed at nature protection and restoration.
More About the News: The funds are distributed across various initiatives, including those under the GEF Trust Fund, Global Biodiversity Framework Fund (GBFF), Least Developed Countries Fund (LDCF), and the Multi-Trust fund, as well as a blended finance project.
Allocations of Funds:
- GEF Trust Fund: 19 projects funded through Four major programs include the Sustainable Cities Integrated Program and initiatives targeting chemical and waste pollution in Bolivia's cement, textile, brick, and glass sectors, and Brazil's cement industry.
- Global Biodiversity Framework Fund (GBFF): First work programme approved, allocating $37.8 million for protected area management in Brazil and Mexico. Three projects funded to improve sustainability of over 30 million hectares of protected areas, providing long-term financing and support for indigenous-led conservation.
- Least Developed Countries Fund (LDCF): 12 projects funded through LDCF and one with Multi trust fund.
Notable Projects:
- India: $6.7 million for enhancing conservation and sustainable use of biodiversity to meet Kunming-Montreal Global Biodiversity Framework targets, including augmenting India's protected area network. $10.7 million for conservation and sustainable management of wetlands, forests, and grasslands to secure migratory species along the Central Asian Flyway.
- Argentina: $6.3 million for reducing ecosystem degradation and biodiversity loss in seven protected areas and their buffer zones.
- Central Asia: $11.7 million to strengthen protected area management and combat biodiversity loss.
- Namibia: $37.8 million to preserve the country's Protected Area Network by creating conditions for long-term financial sustainability, including the operationalisation of the Game Product Trust Fund.
Conclusion:
The GEF Council will reconvene in December 2024, with the agenda focusing on the ninth replenishment funding cycle of the Trust Fund (GEF-9), which will span from 2026 to 2030, aligning with the final push for 2030 global environmental goals under the Biodiversity Plan.
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Global Environment Facility:
- The Global Environment Facility (GEF) is an international partnership of 186 countries, international institutions, civil society organizations, and the private sector, dedicated to addressing global environmental issues.
- The GEF provides funding for environmental projects and programs, focusing on biodiversity, climate change, international waters, land degradation, chemicals, and waste.
- Over the past three decades, the GEF has provided more than $25 billion in financing and mobilized $145 billion for country-driven priority projects.
Key Statistics
- Active Projects and Programs: Over 1,600
- Current Funding: $8.6 billion
- Leveraged Funds: $57.6 billion
- Capital Mobilized since 1991: $145 billion
- Countries Supported: 149
Support Focus
- More than one-third of active projects support Small Island Developing States (SIDS) and Least Developed Countries (LDCs).
- Projects have facilitated the protection of areas larger than Australia.
- Funding has been crucial for biodiversity, climate change, and sustainable development.
- Three Decades of Investing: Since its inception in 1991, the GEF has played a significant role in global environmental protection, mobilizing substantial capital and supporting a wide range of initiatives. Participant Countries: 186
Family of Funds: The GEF operates multiple funds to address specific environmental challenges:
- GEF Trust Fund: Supports projects in biodiversity, climate change, international waters, land degradation, chemicals, and waste. Aims to foster sustainable development through integrated and innovative approaches.
- Global Biodiversity Framework Fund (GBFF): Focuses on biodiversity conservation. Funds projects that support protected area management and sustainability.
- Special Climate Change Fund (SCCF): Provides funding for adaptation and technology transfer in response to climate change. Supports programs in developing countries to build resilience and reduce vulnerability.
- Least Developed Countries Fund (LDCF): Targets the unique needs of the world's 46 least developed countries. Focuses on adaptation to climate change impacts and reducing environmental vulnerabilities.
- Capacity-building Initiative for Transparency Trust Fund (CBIT): Enhances transparency in climate-related actions and policies. Supports countries in meeting their Paris Agreement obligations.
- Nagoya Protocol Implementation Fund (NPIF): Aids the implementation of the Nagoya Protocol on Access and Benefit-sharing. Supports projects that facilitate fair and equitable sharing of benefits from genetic resources.
Governance and Structure
- GEF Council: Composed of 32 members, meeting twice a year. It includes: 16 seats for developing countries, 14 seats for developed countries, 2 seats for economies in transition
- GEF Assembly: Gathers all 186 participants every four years to review and assess the facility's operations.
- Scientific and Technical Advisory Panel (STAP): Provides strategic advice on scientific and technical aspects of the GEF’s work.
- Independent Evaluation Office (IEO): Ensures accountability and assesses the impact and effectiveness of GEF-funded projects.
- Implementing Agencies: The GEF collaborates with 18 designated partners, including international organizations like the World Bank, which also serves as the GEF Trustee, providing administrative services.
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