As the triple crisis of climate change, biodiversity loss, and pollution poses an increasing threat of existential magnitude for humanity and the planet, adequate, catalytic financing to promote transformational change for sustainable development is considered more important than ever before. The role of the Global Environment Facility (GEF), a large multilateral environmental fund that acts as the financial mechanism of several critical environmental conventions, is critical. The GEF seeks to achieve its catalytic function by supporting country-driven sustainable development initiatives around the world, with the primary objective being to generate significant global environmental benefits.

The upcoming 68th meeting of the GEF’s chief governing body, the Council, has a packed agenda. It will consider a new work program of the GEF Trust Fund under the GEF’s eighth replenishment cycle (GEF-8). The requested work program, covering climate, biodiversity, land degradation, international waters, and chemicals and waste focal areas, would total USD 564.3 million, and is expected to generate USD 4.15 billion in co-financing.

The Council also will discuss three evaluations by the Independent Evaluation Office (IEO):

• GEF interventions in the Chemicals and Waste Focal Area;
• GEF programs in Pacific small island developing States (SIDS); and
• components of the GEF’s results-based management systems.

In addition, the Council will focus on:

• initiating discussions on the ninth replenishment of resources (GEF-9) of the GEF Trust Fund;
• proposals for streamlining the GEF project cycle;
• a mid-term review of the option given to countries under GEF-8 to use their System for Transparent Allocation of Resources (STAR) allocations to further facilitate the mainstreaming of integrated programming principles; and
• an assessment of the strength of the GEF partnership across five dimensions: geographic coverage, thematic coverage, efficiency, effectiveness, and engagement.

The Council, the GEF’s main governing body, comprises 32 members appointed by constituencies of GEF member countries (14 from developed countries, 16 from developing countries, and two from economies in transition). Council members rotate at different intervals determined by each constituency. It meets twice annually to develop, adopt, and evaluate the operational policies and programs of the multilateral fund and the activities it finances around the world. It also reviews and approves the work program (projects submitted for approval), making decisions by consensus.

In addition, the Council meets as the Council for the Least Developed Countries Fund (LDCF) and the Special Climate Change Funds (SCCF), and the Council for the Global Biodiversity Framework Fund (GBFF), the special fund created by the Convention on Biological Diversity (CBD) Conference of Parties to support implementation of the Kunming-Montreal Global Biodiversity Framework (GBF).

The 68th meeting of the GEF Council will convene virtually from 16-20 December 2024.

The Earth Negotiations Bulletin (ENB) writers for this meeting are Keith Ripley; Deborah Davenport, Ph.D.; and Tanya Rosen. The Digital Editor is Diego Noguera. The Editor is Leila Mead.