Twenty-nine countries have jointly pledged more than $5 billion for the Global Environment Facility, providing a major boost to international efforts to protect biodiversity and curb threats from climate change, plastics, and toxic chemicals through collaborative action this decade.
The new support, totaling $5.25 billion, increases the GEF’s funding by nearly 30 percent compared to its most recent four-year operating cycle. It comes at a critical moment for developing countries whose ability to tackle worsening environmental challenges has been strained by fiscal pressures from the COVID-19 pandemic and rising inflation.
“This successful replenishment is not only important for the programs and projects the GEF supports around the world and the global environmental benefits they yield. It is a strong signal that the international community is ready to work together on the tough challenges that require us all to be at the table, as we seek to restore the health of our planet and its people,” said Carlos Manuel Rodriguez, CEO and Chairperson of the GEF.