GLOBAL ENVIRONMENT FACILITY (GEF) COUNCIL MEETING 

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  • First Global Environment Facility (GEF) Council meeting of Global Biodiversity Framework Fund (GBFF) held in United States. 
  • GBFF aims to scale up financing for implementation of Kunming-Montreal Global Biodiversity Framework (KMGBF). 
    • Ratified by 186 countries and launched in 2023 at Seventh GEF Assembly in Vancouver, Canada. 
    • Decisions of GBFF Council are to be taken by consensus. o World Bank invited to serve as Trustee of GBFF. 

Key highlights of meeting:

  • GEF’s member government have agreed to invest $1.1 billion for international action on biodiversity, climate change, nature renewal, and pollution control. 
  • They endorsed $203 million for 21 climate change adaptation projects funded by Least Developed Countries Fund and Special Climate Change Fund. 
  • Spain announced 10 million euros to GBFF, adding to contributions announced by Canada, United Kingdom, Germany, and Japan.
About Global Environment Facility (GEF):

  • Genesis:
      • Established in 1992 at the Rio Earth Summit.
      • A partnership of 18 agencies addressing global environmental issues.
  • Membership:
      • GEF has 186 member countries.
      • India is a member.
  • Governance:
      • GEF’s main governing body is the Council, comprising 32 members appointed by constituencies of GEF member countries.
      • The Council has 14 members from developed countries, 16 from developing countries, and 2 from economies in transition.
  • Functions: GEF serves as a “financial mechanism” to five conventions:
    • Convention on Biological Diversity
    • UN Framework Convention on Climate Change
    • Stockholm Convention on Persistent Organic Pollutants
    • UN Convention to Combat Desertification  
    • Minamata Convention on Mercury

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