By Faridat Salifu
The Global Environment Facility’s 186 member governments have agreed to invest $1.1 billion for international action on biodiversity, climate change, nature renewal, and pollution control, as the Council of the Global Biodiversity Framework Fund (GBFF) meets for the first time.
During the recent meeting held in Washington, DC, the GEF Council approved $918 million for 45 projects and programmes from the Global Environment Facility Trust Fund.
This includes a focus on blended finance initiatives involving the private sector and Integrated Programmes to tackle complex challenges comprehensively.
Government representatives also endorsed $203 million for 21 climate change adaptation projects funded by the Least Developed Countries Fund (LDCF) and Special Climate Change Fund (SCCF).
The newly established GBFF is expected to begin funding projects related to nature loss and restoration by the end of 2024, aiming to support countries’ efforts to meet the Kunming-Montreal Global Biodiversity Framework goals.
Country representatives met as the GBFF Council to allocate donor resources and design approved projects.
The GEF continues to work holistically across various challenges including biodiversity, climate change, and toxic chemicals, with a commitment to inclusive and sustainable impacts.
Highlighted within the approved projects are efforts to boost protected areas, landscape management, greenhouse gas emissions reduction, and ecosystem conservation across 77 countries.
The funding will also prioritize gender responsiveness, incorporating women’s needs and contributions in project planning and implementation.
The GEF Council’s work program, mobilizing $7.5 billion in co-financing, showcases a significant commitment to addressing environmental challenges worldwide.
Emphasizing the importance of inclusivity and partnership with Indigenous Peoples and local communities, the GEF aims to make lasting positive impacts through its investment in global environmental initiatives.
