On February 5, the Global Environment Facility allocated $916 million for international action on biodiversity, climate change, nature renewal, and pollution control and to advance five integrated programs designed to tackle complex challenges in their entirety.
Approved during a recent GEF Council meeting in Washington DC, the funding will support 45 projects and programs, including four blended finance initiatives, benefiting over 12 million individuals, including indigenous people and local communities.
The $7.5 billion in co-financing, drawing contributions from bilateral governments and multilateral development banks, will span 77 countries, including 22 Least Developed Countries and 14 Small Island Developing States.
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About $530 million is earmarked for Integrated Integrated Programs addressing ocean health, food systems, transportation infrastructure, wildlife conservation, and vital forest ecosystems.
The GEF Trust Fund’s strategy is to
- enhance protected areas
- manage landscapes
- reduce greenhouse gas emissions
- promote terrestrial and marine ecosystems
“To achieve impact that lasts, we need to work in an integrated and inclusive way,” said Carlos Manuel Rodríguez, GEF CEO and Chairperson, in a release. “The GEF is moving quickly and efficiently to target donor contributions to urgent needs. We also recognize that financing alone cannot reverse environmental degradation for the long term. This work program, therefore stands out not only for its size but also for its focus on a whole-of-society approach to phasing out harmful practices.”
The funding encompasses four new Integrated Programs
- Clean and Healthy Ocean
- Food Systems
- Greening Transportation Infrastructure Development
- Wildlife Conservation for Development
International organizations will implement GEF-funded initiatives in partnership with national and local institutions. They will be managed primarily by the UN Food and Agriculture Organization, the UN Development Program, the International Fund for Agricultural Development, the World Bank, the World Wildlife Fund-US, and the International Union for Conservation of Nature.
