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In its second-to-last gathering of its eighth funding cycle, the Global Environment Facility’s governing body will take stock of major progress towards current targets and consider a new tranche of financing for high-impact initiatives through the GEF Trust Fund, Least Developed Countries Fund (LDCF), Special Climate Change Fund (SCCF), and Global Biodiversity Framework Fund (GBFF). 

The 20th session of the African Ministerial Conference on the Environment (AMCEN) concluded with an affirmation of the value of working together in a collaborative manner to build on Africa’s successes in conserving and restoring nature for the long term. 

Today, at the UN Climate COP29, the Government of Benin together with International Financial Institutions and development partners, including the Global Environment Facility and the International Monetary Fund, unveiled an ambitious vision for climate action. This new suite of initiatives that include carbon monetization mechanism, enhanced credit instruments, common policy matrix, and innovative financing signals Benin’s commitment to unlocking climate finance and catalyzing meaningful change.

The government of Madagascar, in collaboration with international financial institutions and development partners, announced today at the UN Climate COP29 in Baku an integrated set of innovative initiatives to catalyze climate finance in Madagascar. These initiatives, such as a climate finance mobilization strategy, a lemur bond, and a results-based grant financing facility for distributed renewable energy will play an instrumental role in mobilizing private and public sector financing for addressing climate-related challenges as well as opportunities for investment.

The government of Côte d’Ivoire announced today at the UN Climate COP29 in Baku a wide range of initiatives to catalyze climate financing in the country.

The Global Environment Facility has issued a call for proposals under its Non-Grant Instrument Program which provides blended finance for selected initiatives that catalyze investments from private investors and capital markets. While most of the GEF’s financing support is provided as grants, it also deploys a wide array of blended finance instruments such as debt, equity, and guarantees to attract private sector investment and deliver global environment benefits beyond business as usual.

The Global Environment Facility’s 186 member governments on Monday allocated $916 million for international action on biodiversity, climate change, nature renewal, and pollution control, and advanced five Integrated Programs designed to tackle complex challenges in their entirety. The GEF Council, meeting in Washington DC, approved funding for 45 projects and programs, including four blended finance initiatives involving the private sector. The support will directly help more than 12 million people, including Indigenous Peoples and local communities.

The TNFD Recommendations are a key milestone in the relationship between nature, business and financial capital, positioning nature risk alongside financial, operational and climate risk and helping to shift capital flows to nature-positive outcomes. Present and future cashflows depend on the flow of nature’s inputs to business and accelerating nature loss poses a growing risk to businesses and capital providers. The publication of 14 recommended disclosures and a suite of additional implementation guidance marks the culmination of a two-year consultative developm