67th Council Meet of Global Environment Facility

About Global Environment Facility (GEF)

• Establishment: On the eve of the 1992 Rio Earth Summit, a catalyst for action on the environment. 
• Mandate: Through its strategic investments, the GEF works with partners to tackle the planet’s biggest environmental issues. 
• Comprises: It is a unique partnership of 18 agencies — including United Nations agencies, multilateral development banks, national entities and international NGOs — working with 183 countries.
• It is a financial mechanism for: 
  • Minamata Convention on Mercury
  • Stockholm Convention on Persistent Organic Pollutants (POPs)
  • United Nations Convention on Biological Diversity (UNCBD)
  • United Nations Convention to Combat Desertification
  • United Nations Framework Convention on Climate Change (UNFCCC)
• India’s Role: India has formed a permanent Constituency in the Executive Council of the GEF together with Bangladesh, Sri Lanka, Bhutan, Nepal and Maldives.
  • India is both a donor and a recipient of GEF. It has been a leading developing country participant in the GEF since its inception in 1991 and has played a major role in shaping the restructuring of the GEF.
  • The Ministry of Finance is the political focal point while the Ministry of Environment & Forests is the Operational Focal Point for the GEF Projects.
• The GEF Trust Fund: It was established to help developing countries and countries with economies in transition to meet the objectives of the international environmental conventions and agreements.
• The GEF Council: It develops, adopts, and evaluates the operational policies and programs for GEF-financed activities. It also reviews and approves the work program (projects submitted for approval), making decisions by consensus.
  • Though the Council customarily meets twice each year, it will meet three times in 2024. 

About Global Biodiversity Framework Fund (GBFF)

• Launched in August 2023 at the 7th GEF Assembly in Vancouver and approved by 186 countries.
• GBFF aims to help countries achieve the goals of the Kunming-Montreal Global Biodiversity Framework. 
  • It has received funds from Canada, Germany, Japan, Luxembourg, Spain, and the United Kingdom.