Intro to the GEF GEF 2020 – Strategy for the GEF May 28, Washington DC Claus Astrup Advisor to the CEO The GEF

Content 1. Background: The Urgent Agenda That is the Global Environment 2. Overview: GEF Strategy-GEF Reflections on the GEF-6 replenishment

CO 2 concentrations Biodiversity loss Land degradation Ocean degradation Fresh Water Depletion Chemicals Pollution The Global Picture

Why does it matter? Planetary Boundaries— The Earth Pushed to its Limit Note: GEF’s areas of work cover most of these issues

CO 2 concentrations Loss of Biodiversity Land degradation Ocean Fresh Water Depletion Chemicals Pollution The Global Picture

2020 Vision: GEF is a champion of the global environment, building on its role as financial mechanism of several multilateral environmental conventions 1.Focus on drivers of environmental degradation, not “symptoms” 2.Deliver integrated solutions, given that many global challenges are interlinked 3.Enhance resilience 4.Ensure complementarity and synergies in environmental finance Key principles of GEF2020 GEF 2020 Strategy

Address Drivers of Environmental Degradation

Deliver Integrated Solutions Examples: – Integrated approach programs (IAPs) in GEF-6: (i) Sustainable Cities; (ii) Deforestation out of Commodity Supply; (iii)) Fostering Sustainability and Resilience for Food Security in Sub- Saharan Africa – An increasing portfolio of multi-focal area projects and programs

Enhance Resilience GEF Adaptation Program: – LDCF, SCCF – 124 countries worth US$1.2 billion – National adaptation plans (NAPs) – Ecosystem based adaptation

Ensure Complementarity in Environmental Finance Increasingly complex climate finance architecture GEF “niche”: – De-risk low-carbon investments to mobilize private sector through (i) transformation of policy and regulatory environments; (ii) enhanced institutional capacity; (iii) demonstration of new technology and business models; (iv) deployment of innovative financial mechanisms (equity, risks-haring facilities, etc.) – Maximize synergies between climate investments and other global environmental considerations (forests, land, oceans, chemicals, etc.)

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REFLECTIONS ON THE GEF-6 REPLENISHMENT

GEF-6: Largest replenishment to date => US$4.4bn for % Increase over GEF-5… despite difficult global macro/fiscal situation.…

Source of funds  Increases across the board, but particularly among MIC-5 (albeit from a low base)

Use of funds—GEF Focal Areas Main changes from GEF-5: More for Chemical (Minamata); Less for Climate (GCF?); Biodiversity now largest FA Note: Excludes Corporate Programs and Non-Grant Instrument Pilot. Also, does not include LDCF/SCCF

Use of funds—GEF Recipient Countries => Trade-off: “Impact” vs ”equity”? Note: Only Country Allocations (“STAR”)

Thank you