The recent 64th Global Environment Facility (GEF) council meeting in Brazil garnered attention when the governing body approved a significant disbursement of USD 1.4 billion. The purpose is to boost the efforts in tackling the intensifying environmental issues of climate change, biodiversity loss, and pollution. This move is the second work program under the GEF-8 funding period from 2022 to 2026.
Key Highlights of the 64th GEF Council Meeting
A significant outcome of this meet was the approval for the establishment of a new fund – the Global Biodiversity Framework Fund (GBFF). The GBFF aims to finance the implementation of the Kunming-Montreal Global Biodiversity Framework. The significance of this fund comes from the fact that roughly half of its resources will be dedicated to biodiversity-related work during the GEF-8 period. The meeting also shed light on the fund allocations; 20% to Indigenous Peoples and local communities (IPLCs), 25% to GEF agencies, 36% to SIDS (Small Island Developing States), and 3% to LDCs (Least Developed Countries).
Understanding the Global Environment Facility
The GEF, established prior to the 1992 Rio Earth Summit, is a collective of funds aimed at combating challenges related to biodiversity loss, climate change, pollution, and strain on land and water health. Its unique governance structure includes an Assembly, Council, Secretariat, 18 agencies, a Scientific and Technical Advisory Panel, and an Evaluation Office. Financial assistance is provided by the GEF for five major international conventions, including The Minamata Convention on Mercury and The Stockholm Convention on Persistent Organic Pollutants to name a few. With a secretariat based in Washington, D.C., the World Bank serves as the GEF Trustee administering the GEF Trust Fund that comprises contributions made by donors.
What is the GEF Council?
The GEF Council represents the main governing body of the GEF. Constituencies of the GEF member countries appoint 32 members to the council, including 14 from developed countries, 16 from developing countries, and two from economies in transition. Indian has formed a permanent constituency in the Executive Council of the GEF together with Bangladesh, Sri Lanka, Bhutan, Nepal, and Maldives. The Council meets twice annually and is responsible for the development, adoption, and evaluation of the operational policies and programs for GEF-financed activities. It also approves the work program and takes decisions by consensus.
UPSC Civil Services Examination – Previous Year Questions (PYQs)
In the 2014 Civil Services Examination, the Global Environment Facility was an important topic. The question asked candidates to identify correct statements about the GEF. Only one statement was found to be correct: “It serves as a financial mechanism for ‘Convention on Biological Diversity’ and ‘United Nations Framework Convention on Climate Change”.
