GEF approves $372m to tackle global environmental challenges
The Global Environment Facility (GEF) has announced the approval of more than $372 million in new funding to implement 36 innovative programmes and projects aimed at addressing urgent environmental challenges across Africa, Asia, Europe, and Latin America and the Caribbean.
These projects span the GEF Trust Fund, the Least Developed Countries Fund (LDCF), the Special Climate Change Fund (SCCF), and the Global Biodiversity Framework Fund (GBFF).
The new initiatives approved at the funds’ Council meetings are designed to protect and manage hundreds of millions of hectares of critical ecosystems, mitigate greenhouse gas emissions, and empower civil society and Indigenous Peoples to deliver sustainable, inclusive environmental solutions.
The funding package allocates $291 million from the GEF Trust Fund, $49 million from the LDCF, $3 million from the SCCF, and $29 million from the GBFF.
These investments will support integrated responses to biodiversity loss, climate change, and pollution, with a special focus on illegal, unreported, and unregulated fishing; protection and sustainable management of marine habitats; reduction of mercury and persistent organic pollutants; and the advancement of regenerative agriculture and landscape restoration.
“The initiatives will also foster policy coherence and integrated planning across government, promoting improved environmental outcomes.
The projects approved since July 2022 are expected to mobilise $8.50 in co-finance for every GEF dollar overall, including $8.1 billion from private sources. Blended finance operations are set to achieve a 19-to-1 co-financing ratio, highlighting the catalytic role of GEF grant resources in mobilizing public and private capital at scale.
The Council meetings this week emphasised the central role of civil society organisations and Indigenous Peoples and local communities in shaping initiatives and delivering results on the ground, particularly through GBFF programming that incorporates community stewardship, sustainable livelihoods, and rights-based approaches. Projects funded by the LDCF and SCCF showcase how ecosystem restoration, inclusive governance, and community empowerment can build resilience in highly vulnerable Least Developed Countries and Small Island Developing States.
Source: Blueprint
