In prescience of the ample funding their efforts would require, a multilateral trust fund was also established, whose job it would be to channel finance from wealthy countries and institutions to the developing nations and small enterprises that need it most. The Global Environment Facility, called by its acronym “the GEF,” has so far provided and mobilized more than USD 140 billion in this manner, and every so often, it is “replenished” with external investment in order to continue its work.
In April of this year, the GEF received its eighth replenishment at a record amount that increased its funding by 30 percent, substantially enhancing its ability to finance worthy environmental initiatives. Alongside the 15th Conference of the Parties to the UN Convention to Combat Desertification (UNCCD COP15) in Abidjan, Côte d’Ivoire, Landscape News spoke with the GEF CEO and chairperson Carlos Manuel Rodriguez about what this means money.
The GEF just received a replenishment of USD 5.25 billion.
And it can turn out to be USD 5.5 billion in a couple of months. There are a couple of important donors that were unable to pledge yet, but they are working on that internally.
How will this funding be used?
The funding will be used in a different way than in the past. For many years, we financially supported countries in their efforts to implement actions in the Rio Conventions, but on actions that responded directly to their mandates. So you had countries doing projects on climate projects, on biodiversity projects, on land degradation. But we know the climate and biodiversity benefits of dealing with droughts, and the same for degradation, restoration, land-use planning and so on. And, countries are advancing in their environmental efforts. So to optimize the GEF resources and have higher impact, we are moving in a more integrated manner and allowing countries more flexibility.
We also want to grow our small grant program, which increases finances to civil society organizations. We want to grow in terms of the agencies, in terms of the scope, and particularly in terms of the understanding of the very important role that non-state actors do have. Regarding our private sector engagement strategy, we’re looking to engage more with small- and medium-sized enterprises, not only with grants but also through the non-grant instrument.
And we’re also moving more impact programs, which have toward so far worked a lot in cities, large forest biomes, food security, and land management and restoration. Now we are bringing in many new impact programs, dealing with waste and plastics all the way to blue economy and small islands.
What do you make of the USD 5.25 billion amount in comparison to what we see countries spending on other issues, such as conflict, at the moment?
Let me compare this amount to what countries invest in destroying nature, not war – though that is, yes, evident and big. But one of the most unknown elements of global inconsistencies is that there is no country on this planet that invests more public or private resources in mitigating climate change by protecting nature than what they invest in destroying it. This is what we call policy incoherence.