As we mark the beginning of the 30th United Nations Climate Change Conference, or COP30, Devex took a deep dive into one of the world’s largest sources of multilateral environmental funds, the Global Environment Facility, or GEF, to understand how it works and identify what its priorities are.
GEF is an independent multilateral facility established in 1991, with the backing of major institutional donors, to fund environmental causes. To date, GEF has provided over $26 billion and mobilized another $153 billion in cofinancing to support projects in five key areas: biodiversity, chemicals and waste, climate change, international waters, and land degradation.
Between 2021 and 2025, the multilateral facility has approved 1,162 projects, with a total grant amount of $6.4 billion.