GEF is the most important multilateral financing mechanism for the implementation of global environmental agreements. The fund plays a key role in strengthening resilience, improving natural resource management and facilitating green and sustainable jobs in developing countries.

‘The global environmental and climate crisis does not disappear simply because we are facing other global crises. Through this contribution, Norway will strengthen developing countries’ access to effective financing to address the nature and climate crisis. It is also a clear expression of Norway’s support for multilateral environmental cooperation‘, says Minister of International Development Åsmund Aukrust.

‘Supporting developing countries in their efforts to tackle the climate and nature crisis is essential if we are to succeed in limiting global climate change, pollution and the loss of nature. This fund, which works across the environmental crises and uses new and innovative ways of financing projects, plays an important role in ensuring that Norwegian development funds are used as efficiently as possible. I am pleased that we are now continuing this support‘,  says Minister of Climate and Environment Andreas Bjelland Eriksen.

GEF has demonstrated that it delivers results and is able to mobilise substantial contributions from other actors, including private capital. One example is the pioneering Wildlife Conservation Bond, through which GEF has helped to unlock USD 150 million in private capital for the conservation of endangered rhinoceroses. The project delivers measurable benefits for nature as well as positive spillover effects for local communities.

Under the ninth replenishment (GEF‑9), 10 per cent of the funds are earmarked for innovative projects designed to mobilise the private sector. Norway’s contribution to GEF‑9 is based on an integrated climate, environment and development policy, and underscores the importance of effective multilateral solutions for achieving global goals. Particular priority will be given to support for the least developed countries (LDCs) and small island developing States (SIDS).