T.22. The GEF
Article 11 of the UNFCCC establishes a ‘financial mechanism’ for convention implementation, guided by the UNFCCC COP and accountable to the COP.
Article 11 (1) grants the COP the authority to decide on policies, program priorities, and eligibility criteria for the financial mechanism concerning the convention.
Article 21 designates the Global Environment Facility (GEF) to serve as the interim financial mechanism.
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About GEF
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- The GEF was created in 1991 by the World Bank in consultation with the United Nations Development Programme (UNDP) and the United Nations Environment Programme (UNEP) to offer funding for global environmental protection.
- The GEF‘s governance, operational, financial, and administrative oversight procedures are outlined in the Instrument for the Establishment of the Restructured Global Environment Facility, adopted in 1994 and later amended in 2002 (GEF Instrument).
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The GEF currently focuses on six areas:
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- Biological diversity;
- Climate change;
- International waters;
- Land degradation, primarily desertification and deforestation;
- Ozone layer depletion; and
- Persistent organic pollutants.
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