GLOBAL ENVIRONMENT FACILITY (GEF)
- The Global Environment Facility (GEF) is an international partnership and financial mechanism established in 1991 to address some of the world's most pressing environmental challenges.
- It was created in response to the growing recognition that global environmental issues such as biodiversity loss, climate change, land degradation, and pollution required coordinated global action and financial resources.
- The GEF plays a pivotal role in funding projects that benefit the global environment while also promoting sustainable development in recipient countries. It works as a partnership among 184 countries, international institutions, non-governmental organizations (NGOs), and private sector actors.
- The United Nations Development Programme (UNDP), United Nations Environment Programme (UNEP), and the World Bank are its implementing agencies, ensuring that resources are directed efficiently to projects that align with its goals.
- GEF funding is primarily directed toward developing countries and countries with economies in transition. These funds help nations meet their obligations under major international environmental conventions, such as the United Nations Framework Convention on Climate Change (UNFCCC), Convention on Biological Diversity (CBD), United Nations Convention to Combat Desertification (UNCCD), and others.
- Projects funded by the GEF often focus on areas such as renewable energy, sustainable agriculture, conservation of endangered species, reducing greenhouse gas emissions, and combating land degradation.
- Since its inception, the GEF has provided over $22 billion in grants and leveraged more than $120 billion in co-financing for over 5,000 projects worldwide. It has also supported thousands of small-scale projects through its Small Grants Programme, empowering local communities and grassroots organizations to take action in protecting their environments.
- The GEF operates in replenishment cycles, where donor countries contribute funds that are then used over a four-year period. It has become a cornerstone of global environmental finance, with its efforts evolving to address new challenges, such as the protection of international waters and tackling pollutants like mercury and plastics.
- Overall, the GEF exemplifies the spirit of international cooperation, emphasizing that environmental protection and sustainable development are interconnected goals requiring collaborative global action.
- Its work is vital in ensuring that countries, particularly those with fewer resources, have the means to address environmental issues for the benefit of current and future generations
- The financial resources for these conventions are overseen by the Global Environment Facility (GEF), an international funding mechanism headquartered in the United States.
- GEF is set to initiate negotiations for its ninth replenishment in January 2025, which will secure funding through 2030.
- In addition to managing finances for the three Rio Conventions — the UN Convention on Biological Diversity, the UN Framework Convention on Climate Change, and the UN Convention to Combat Desertification — GEF also administers funding for other environmental treaties, such as the Stockholm Convention on Persistent Organic Pollutants and the Minamata Convention on Mercury.
- These discussions come at a critical time, as Parties to the Rio Conventions have expressed the need for increased funding to achieve their targets, citing significant financial shortfalls.
- For instance, addressing desertification will require $355 billion annually from 2025 to 2030, with an estimated funding gap of $278 billion. Similarly, the Global Biodiversity Framework highlights a biodiversity finance gap of $700 billion per year through 2030.
- During its eighth replenishment cycle, GEF secured pledges totaling $5.33 billion, with an ambitious co-financing ratio of 1:7. However, to bridge the substantial funding gaps, the ninth replenishment process will need to explore innovative ways to mobilize additional resources.
- This negotiation process, spanning 18 months, aims to determine how funds can be generated and allocated for the period of 2026-2030.
- At present, GEF appears to be stretched thin. During its 68th Council meeting in December, a nearly $700 million Work Program was approved, highlighting the growing scale of its commitments
The Council is responsible for several key functions, including:
- Reviewing and approving GEF policies, operational strategies, and funding decisions.
- Overseeing the use of GEF funds, ensuring that they are directed toward projects that align with global environmental goals.
- Monitoring and evaluating the implementation of GEF-funded projects to ensure accountability and effectiveness.
- Approving the GEF Work Program, which includes projects and programs submitted for funding.
For Prelims: Global Environment Facility (GEF), Convention on Biological Diversity (CBD), United Nations Framework Convention on Climate Change (UNFCCC)
For Mains: GS III - Environment & Ecology
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Previous Year Questions
1.With reference to ‘Global Environment Facility’, which of the following statements is/are correct? (2014) (a) It serves as financial mechanism for ‘Convention on Biological Diversity’ and ‘United Nations Framework Convention on Climate Change’ Answer (a)
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