The Global Environment Facility (GEF) has announced a major funding injection of over $372 million to launch 36 new programmes aimed at tackling the planet’s most pressing environmental crises. The projects, approved during the GEF Council meetings this week, will drive action across Africa, Asia, Europe, and Latin America and the Caribbean.
This substantial financial package, drawn from the GEF’s family of funds, is designed to catalyze large-scale environmental action. It includes $291 million from the core GEF Trust Fund, $49 million for the Least Developed Countries Fund (LDCF), $3 million from the Special Climate Change Fund (SCCF), and a significant $29 million allocation from the relatively new Global Biodiversity Framework Fund (GBFF). The initiatives target an integrated response to the interconnected threats of biodiversity loss, climate change, and pollution. Key focus areas include combating illegal fishing, protecting marine ecosystems, reducing harmful pollutants like mercury, and advancing regenerative agriculture and landscape restoration.
“The progress made towards achieving our targets reflects an unprecedented record of delivery, scale, and ambition,” said Claude Gascon, GEF Director of Strategy and Operations, who was appointed interim CEO following the meeting. “The GEF’s demonstrated efficiency, effectiveness and ambitious modernisation efforts position us to be the preferred vehicle to scale up funding and impact.” A cornerstone of the GEF’s strategy is its ability to leverage significant additional finance. Projects approved since mid-2022 are projected to mobilize $8.50 for every GEF dollar invested, including $8.1 billion from private sources. Blended finance operations are expected to achieve an even more striking 19-to-1 co-financing ratio.
The Council placed a strong emphasis on the role of local actors. Programming, particularly under the GBFF, will prioritize community stewardship, sustainable livelihoods, and rights-based approaches for Indigenous Peoples and local communities. LDCF and SCCF projects will demonstrate how ecosystem restoration and inclusive governance can build resilience in the world’s most vulnerable nations. In a show of continued confidence, donor countries announced nearly $39 million in new pledges to the LDCF and SCCF during the meetings. Contributions from Belgium, Germany, Ireland, and Sweden will bolster climate adaptation efforts in Least Developed Countries and Small Island Developing States.
The meeting also marked a leadership transition, as Carlos Manuel Rodríguez stepped down as GEF CEO and Chairperson, effective immediately. Claude Gascon was appointed interim CEO to lead the partnership.
Council members reviewed the GEF’s substantial track record. According to a recent Monitoring Report, over the past four years, GEF support has contributed to mitigating over one billion tonnes of greenhouse gas emissions, supporting the conservation of 118 million hectares of protected land areas, placing 15 million hectares of land under restoration, and eliminating 60,000 tonnes of harmful chemicals.
Looking ahead, discussions began on streamlining the next four-year funding cycle (GEF-9), which starts in July 2026. These efforts aim to enhance the efficiency and accessibility of GEF resources. Negotiations for the GEF-9 replenishment will continue in Bonn, Germany, in January 2025, culminating at the Eighth GEF Assembly in Uzbekistan in June 2026. The Assembly will serve as a pivotal moment to showcase how scaled-up funding can transform economic systems to achieve sustainable development and lasting environmental results on a global scale.
