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67th Global Environment Facility (GEF) Council
Context:
The 67th meeting of the Global Environment Facility (GEF) concluded with a significant approval of $736.4 million in funding for nature protection and renewal projects.
- Including support for the Great Green Wall and investment in large-scale initiatives for sustainable cities, cleaner industries, improved ocean and land health, and greater climate change resilience.
Funding from the GEF Trust Fund, LDCF, and GBFF targets developing countries to address environmental challenges critical for global goals on biodiversity, climate change, and pollution.
Funding Breakdown: A total of 34 projects received financial support.
- GEF Trust Fund: 19 projects received funding.
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- Sustainable Cities Integrated Program.
- Initiatives addressing chemical and waste pollution in specific sectors across Bolivia and Brazil.
- Support for a new Indonesia Coral Bond for coral reef conservation.
- Global Biodiversity Framework Fund (GBFF): Launched its first work program, allocating $37.8 million for protected area management in Brazil and Mexico.
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- This aims to improve the sustainability of over 30 million hectares of protected areas.
- Least Developed Countries Fund (LDCF): Funded 12 projects.
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- Joint financing with GEF Trust Fund for the Great Green Wall project.
- Enhancing resilience to flooding and drought in Laos and Cambodia.
- Developing climate-resilient infrastructure in Sao Tome and Principe.
- Supporting green enterprises and food security in Chad and Sierra Leone.
- Multi-Trust Fund: Supported one blended finance project.
Highlights for India:
- Biodiversity Enhancement: A $6.7 million initiative to enhance biodiversity conservation aligning with the Kunming-Montreal Global Biodiversity Framework targets.
- Central Asian Flyway Conservation: With $10.7 million, this project focuses on wetlands, forests, and grasslands in India to secure migratory species.
Global Impact: Several projects contribute to achieving the 30×30 target of the Biodiversity Plan.
- Argentina: The $6.3 million project targets ecosystem degradation and biodiversity loss reduction in seven protected areas and buffer zones.
- In Central Asia ($11.7 million), and Namibia ($37.8 million).
About GEF
The Global Environment Facility has a unique governing structure organised around an Assembly, the Council, the Secretariat, 18 agencies, a Scientific and Technical Advisory Panel, and the Evaluation Office.
- Agencies include World Bank, Asian Development Bank (ADB), Food and Agriculture Organization (FAO), United Nations Development Programme (UNDP), and United Nations Environment Programme (UNEP) etc.
- Established: 1992, on the eve of the Rio Earth Summit.
- Objective: To address projects related to biodiversity, climate change, international waters, ozone depletion, land degradation and persistent organic pollutants through partnerships and strategic investments.
- Structure:
- The GEF Assembly is composed of all 186 member countries, or participants. (Including India)
- It is supported by civil society, private sector, independent evaluation office, and scientific panel.
- The Council of GEF consists of 32 members appointed by constituencies representing GEF member countries.
- 14 from developed countries, 16 from developing countries, and 2 from economies in transition.
- The Council convenes twice annually to develop, adopt, and assess operational policies and programs for GEF-financed activities but has decided to meet three times in 2024.
- Responsibilities include reviewing and approving the work program, which consists of projects submitted for funding, with decisions made by consensus among members.
- Functions: Acts as a financial mechanism for five major international environmental conventions:
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- Minamata Convention on Mercury
- Stockholm Convention on Persistent Organic Pollutants (POPs)
- Convention on Biological Diversity (CBD)
- UN Convention to Combat Desertification (UNCCD)
- UN Framework Convention on Climate Change (UNFCCC)
- Montreal protocol: The GEF, although not linked formally to the MP, supports the implementation of the Protocol in Countries with Economies in Transition.
Significance:
- It serves as the largest source of multilateral funding for biodiversity globally.
- It plays a critical role in assisting developing countries in tackling environmental challenges.
- Contributes significantly to achieving international environmental goals and targets.
Looking Forward:
- The GEF Council will address securing funding for the GEF-9 replenishment cycle (2026-2030).
- GEF-9 funding aims to support the final push towards achieving global environmental goals set for 2030.