December 20, 2024
By Adedoja Adesoji
The Global Environment Facility’s (GEF) governing body has approved nearly $700 million in financing to address pressing environmental issues, including pollution, waste management, and biodiversity loss.
This funding will support developing countries in their efforts to meet international environmental goals, in partnership with civil society.
The allocation includes $554 million from the GEF Trust Fund, $93.6 million from the Least Developed Countries Fund (LDCF), and $12.6 million from the Special Climate Change Fund (SCCF).
Additionally, the GEF has set aside $91 million for future funding of new initiatives in 17 countries that received project preparation grants.
GEF CEO and Chairperson Carlos Manuel Rodríguez emphasized the urgency of addressing environmental challenges, stating, “Our planet’s vital signs are flashing red – we need to work urgently to avert the collapse of the global ecological system that maintains life on Earth.”
The GEF Council’s decision marks the beginning of the ninth replenishment period, which will span from July 2026 to June 2030. This period is critical, as it aligns with the final push towards achieving key targets across multilateral environmental agreements.
Dawda Badjie Banjul, Co-Chair of the 68th Council and Council Member from The Gambia, noted, “Addressing environmental challenges, which is complex, requires a systematic approach and collective responsibility, for ourselves as well as the future generations.”
The GEF’s family of funds works to support countries’ progress towards international environmental goals, including the Biodiversity Beyond National Jurisdiction Agreement, Convention on Biological Diversity, and UN Framework Convention on Climate Change.
