Source: UNEP
Subject: International Organisation
Context: The Global Environment Facility has approved US$52.8 million for four new UN Environment Programme–led projects at its 70th Council meeting.
About Global Environment Facility (GEF):
What it is?
- The Global Environment Facility (GEF) is a multilateral environmental financing mechanism that provides grants and blended finance to developing countries and economies in transition to address global environmental challenges.
Established in:1991, ahead of the 1992 Rio Earth Summit
Aim:
- To support country-driven projects that generate global environmental benefits
- To integrate action on climate change, biodiversity, land degradation, oceans, chemicals, and pollution
- To strengthen environmental governance while promoting sustainable development
Conventions covered (Financial mechanism for):
- Convention on Biological Diversity (CBD)
- United Nations Framework Convention on Climate Change (UNFCCC)
- United Nations Convention to Combat Desertification (UNCCD)
- Stockholm Convention on Persistent Organic Pollutants
- Minamata Convention on Mercury
- Biodiversity Beyond National Jurisdiction (BBNJ) Agreement
- Also supports implementation of the Montreal Protocol
Key functions:
- Provides grants and concessional finance for environmental projects.
- Mobilises large-scale co-financing from public and private sources.
- Supports capacity building, technology transfer, and policy coherence.
- Funds climate reporting and transparency mechanisms under the Paris Agreement.
- Operates through a structured governance system (Assembly, Council, Secretariat, STAP, IEO).
Significance:
- Largest source of multilateral biodiversity funding globally.
- Over US$26 billion in grants and US$153 billion mobilised in co-financing so far.
- Active in 160+ countries, improving livelihoods of millions.