Global Environment Facility

Description

The Global Environment Facility (GEF) assists communities in addressing environmental degradation that threatens livelihoods and security. Using private-sector solutions to overcome market and investment barriers, GEF programs combat illegal wildlife trafficking; protect biodiversity and critical habitats; and invest in the sustainable management of freshwater, forests, fisheries, agricultural areas, and other natural capital.

Use of Funds

Contributions to the GEF primarily generate grants, but also include concessional financing, and blended financing. GEF funds assist developing and transitional countries in addressing environmental challenges in five key areas: (1) biodiversity; (2) chemicals and waste; (3) climate change; (4) land degradation (primarily deforestation and desertification); and (5) international waters. This will be the second installment of the GEF-8 replenishment.

Justification

• Since its inception in 1992, the GEF has provided more than $22 billion in grants and blended finance, and mobilized an additional $120 billion in co-financing for over 5,000 projects and programs in 164 countries.
• GEF-7 cycle investments:
  • Provided direct benefits to over 222 million people, including 113 million women.
  • Mitigated over 1,500 million MTCO₂e of greenhouse gasses.
  • Restored 8.2 million hectares, including 2.7 million hectares of forest land.
  • Reduced, disposed of, phased out, eliminated, and avoided 90,400 metric tons of chemicals of global concern and their waste in the environment and in processes, materials, and products.
• For every $1 raised, the GEF leverages $6 for environmental programming.
• In 2019, GEF began The Restoration Initiative, connecting local governments and organizations in ten Asian and African nations with large, multilateral entities to prevent land degradation and restore degraded lands.