Contributions to GEF Hit Record Level

With fresh resources worth USD4.25 billion, the Global Environment Fund will finance efforts to reduce pollution and preserve biodiversity over the next four years. Photo by: Curt Carnemark/World Bank

More than 30 nations pledged USD4.25 billion for the Global Environment Facility, making this the largest funding replenishment for the GEF.

The amount, according to the World Bank, represents a 52 percent increase in fresh resources and “the first significant multilateral step toward commitments in Copenhagen and in other key international environmental agreements.” 

The new resources will support initiatives focused on climate change, biodiversity, international waters, land degradation, persistent organic pollutants, mercury and the ozone layer over the next four years. GEF will use the funding to lower carbon dioxide emissions by expanding sustainable management of protected areas and critical landscapes, strengthen multi-state cooperation on transboundary water systems management, reduce persistent organic pollutants in land and water, and expand and protect the Earth’s forest cover.

About the author

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    Ma. Rizza Leonzon

    As a former staff writer, Rizza focused mainly on business coverage, including key donors such as the Asian Development Bank and AusAID.