Government approves support to Global Environment Facility
The Government today decided to contribute more than SEK 2 billion to the seventh replenishment of the Global Environment Facility (GEF-7). Sweden will thereby increase its contribution to the GEF by more than 50 per cent for the period 2018–2022, compared with 2014–2018. This makes Sweden the sixth largest donor overall and the largest per capita donor. In total, replenishment pledges total SEK 34 billion (USD 4.1 billion). This decision reflects what was announced by the Government in the Budget Bill for 2018.
“The support to the Global Environment Facility is expected to help double global reductions in greenhouse gas emissions. With this decision, Sweden will remain a leading voice in global environment and climate action,” says Minister for International Development Cooperation and Climate Isabella Lövin.
The implementation of GEF-7 will increase integration and strengthen synergies in global climate and environment action, and increase action on biodiversity, chemicals and waste and the ocean, and enhance efforts to combat marine littering and plastic pollution. Partnership with the private sector is crucial, and will generate leverage to make more resources available to achieve global climate and environmental goals.
“Global cooperation is crucial if we are to meet the challenges facing us in the area of the environment. This applies not least to chemicals, where we see great opportunities to phase out mercury and other particularly hazardous substances. Sweden’s support for the Global Environment Facility is thus important for the future,” says Minister for the Environment Karolina Skog.
Over the next four-year period (2018–2022), the agreed GEF-7 replenishment is expected to lead to:
- doubled emissions reductions;
better management for almost 50 per cent more environments on land and close to water;
- more than 100 000 tonnes of persistent organic pollutants, mercury and other hazardous chemicals being phased out; and
- almost four tonnes of the world’s most overexploited fish stocks approaching more sustainable levels.
The GEF was established in 1991 with the mandate to contribute to global environmental public goods through financial support to environmental and climate action in developing countries. It serves as a joint financial mechanism for the United Nations Framework Convention on Climate Change (UNFCCC) and four global environmental conventions: the Convention on Biological Diversity (CBD), the United Nations Convention to Combat Desertification (UNCCD), the Stockholm Convention on Persistent Organic Pollutants (POPs), and the Minamata Convention on Mercury.
To date, the GEF has paid out more than USD 14.5 billion in grants and mobilised USD 75 billion in co-financing to more than 4 000 projects in 183 countries.