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FinanCe

the global

eNviroNmeNt

FacilitY: FuNdiNg

climate actioN

The Global Environment Facility (GEF) was established on the eve of the 1992 Rio Earth Summit, to help tackle
our planet’s most pressing environmental problems. Since then, the GEF has provided over $14 billion in grants
and mobilized in excess of $70 billion in additonal fnancing for more than 4,000 projects. The GEF has become
an internatonal partnership of 183 countries, internatonal insttutons, civil society organizatons, and the
private sector to address global environmental issues.

by naoko ishii, Ceo and Chairperson, global environment Facility

is climate change a priority for the geF? This will require actons on multple fronts and such as energy efciency, land
The GEF commitment to address climate at all levels of society. degradaton, deforestaton,
change issues is unequivocal. In 2013-14, we food security, sustainable cites
commited a total US$1.4 billion for adaptaton Three things will facilitate this. First, the COP21 and resilience.
and mitgaton acton. By the end of our current climate change talks in Paris need to deliver a When it comes to climate
credible, strong agreement that puts the world
funding cycle in June 2018, we estmate that the on a path to a decarbonized global economy by fnance, what role do you see
GEF will be making about US$3 billion available
to developing countries to help address climate the second half of the century. Second, we need for the private sector?
change, and expect more than $US25 billion to strong actons on mitgaton and adaptaton One of the greatest
be leveraged from other sources. both before and afer 2020 by a broad as opportunites for scaled-
possible a coaliton of stakeholders. And, third, up climate fnance lies in
In October, the most recent GEF Council gave we require the necessary fnance to underpin unleashing the most dominant
the green light to a new work program that the new agreement and actons on the ground. driver of global economic
puts a strong emphasis on tackling climate How is the GEF contributng to the Paris talks? actvity: the private sector.
change. The meetng approved a work program As a fnancial mechanism of the United Natons At the GEF, our experience
to provide fnancing for 17 new projects and
2 programmatc approaches focusing mainly Framework Conventon on Climate Change shows that targeted grant
on climate change and sustainable ecosystem (UNFCCC), the GEF is supportng developing fnance can be a critcal step
management in the Amazon. The work countries’ shif towards a low-emission to enhance private sector
development path. Besides our ongoing support
engagement in market-
program totals US$233.67 million for new to countries in their UNFCCC obligatons (such based solutons. GEF climate
projects and programs from the US$4.43 billion
replenishment that began in July 2014, and as natonal communicatons and biennial update fnance in general mobilizes
covers energy efciency investments, emissions reports), we have provided fnancial support to about US$1 from the private
reductons through land management, 46 countries as they prepared their Intended sector for each US1$ GEF
Natonally Determined Contributons, and stand
grant. But, based on a suite
technology transfer and renewable energy ready to help make these “investment plans” of innovatve fnancial
promoton.
operatonal. instruments—including
What should CoP21 in Paris deliver? partal risk guarantees,
To win the fght against climate change and We’re also actvely supportng the 12 acton equity investments, and debt
tracks of the Lima Paris Acton Agenda to
safeguard the global environment we need a instruments—that we have
large-scale transformaton in our economies. showcase coalitons, partnerships and integrated been pilotng recently, we have
approaches for acton on the ground in areas
42 www.rtcc.org