Recently, at the 64th Global Environment Facility (GEF) council meeting in Brazil, the governing body approved the disbursement of USD 1.4 billion to accelerate efforts to tackle the climate, biodiversity and pollution crises.This is the 2nd work program of the GEF-8 funding period, which runs from 2022 and 2026.
Global Environment Facility
- The GEF was established on the eve of the 1992 Rio Earth Summit.
- It is a family of funds dedicated to confronting biodiversity loss, climate change, pollution, and strains on land and ocean health.
- It has a unique governing structure organized around an Assembly, the Council, the Secretariat, 18 agencies, a Scientific and Technical Advisory Panel, and the Evaluation Office.
It provides Financial Assistance for five major International Conventions
- The Minamata Convention on Mercury (signed in 2013 and entered into force in 2017).
- The Stockholm Convention on Persistent Organic Pollutants (POPs) (adopted in 2001 and entered into force in 2004).
- The United Nations Convention on Biological Diversity (UNCBD ) (entered into force in 1993).
- The United Nations Convention to Combat Desertification (UNCCD) (adopted in 1994).
- The United Nations Framework Convention on Climate Change (UNFCCC) (signed in 1992 and entered into force in 1994).
It has 184 member countries, including India.Its secretariat is based in Washington, D.C.The World Bank serves as the GEF Trustee, administering the GEF Trust Fund (contributions by donors).
GEF Council
- The Council, the GEF’s main governing body, comprises 32 members appointed by constituencies of GEF member countries (14 from developed countries, 16 from developing countries, and two from economies in transition).
- India has formed a permanent Constituency in the Executive Council of the GEF together with Bangladesh, Sri Lanka, Bhutan, Nepal and Maldives.
- Council members rotate at different intervals determined by each constituency.
- The Council meets twice annually.
- The Council develops, adopts and evaluates the operational policies and programs for GEF-financed activities.
- It also reviews and approves the work program (projects submitted for approval), making decisions by consensus.