UNDP/GEF assists partner countries to access, combine and sequence resources from a wide range of funds, and financial instruments and mechanisms. The key funds are listed below:
Global Environment Facility Trust Fund
Least Developed Countries Fund and Special Climate Change Fund
Global Environment Facility Trust Fund (managed by the Global Environment Facility) www.thegef.org
The Global Environment Facility (GEF) was established in 1991 and is governed under the provisions of the Instrument for the Establishment of the Restructured Global Environment Facility
The GEF is a financial mechanism that provides new and additional grant and concessional funding to meet the agreed incremental costs of measures to achieve global environmental goals agreed to in international conventions and other priorities supported by the GEF including: (a) biological diversity; (b) climate change; (c) international waters; (d) land degradation, primarily desertification and deforestation; (e) ozone layer depletion; and (f) persistent organic pollutants.
The GEF funds programs and projects which are country-driven and based on national priorities designed to support sustainable development. These programs and projects are supported by 3 Implementing Agencies: UNDP, UNEP, and the World Bank; and, 7 Executing Agencies: Asian, African, and Inter-American Development Banks, the European Bank for Reconstruction and Development, FAO, IFAD and UNIDO.
These ‘GEF Agencies’ are accountable to the GEF Council for their GEF-financed activities, including the preparation and cost-effectiveness of GEF projects, and for the implementation of the operational policies, strategies and decisions of the Council within their respective areas of competence. The World Bank serves as the Trustee of the Global Environment Facility.
Further details on UNDP’s active portfolio of GEF projects.
The Least Developed Countries Fund (LDCF) aims to address the special needs of the Least Developed Countries (LDCs) under the Climate Convention. LDCF supports projects that address the urgent and immediate adaptation needs of the least developed countries, focusing on reducing the vulnerability of the sectors and resources that are central to human and national development, such as water, agriculture and food security; health; disaster risk management and prevention; and infrastructure, as identified and prioritized in their National Adaptation Programmes of Action.
The Special Climate Change Fund (SCCF) was established under the UN Framework Convention on Climate Change (UNFCCC) in 2001 to finance activities, programs, and measures relating to climate change that are complementary to those funded by the resources allocated to the Climate Change Focal Area of the GEF Trust Fund and by bilateral and multilateral funding. The SCCF has four different funding windows: 1. Adaptation 2. Transfer of technologies 3. Energy, transport, industry, agriculture, forestry, and waste management 4. Activities to assist developing countries whose economies are highly dependent on income generated from the production, processing, and export or on consumption of fossil fuels and associated energy-intensive products in diversifying their economies.
Further details on UNDP’s active portfolio of LDCF/SCCF projects.
The Adaptation Fund was established by the Parties to the Kyoto Protocol of the UN Framework Convention on Climate Change (UNFCCC) to finance concrete adaptation projects and programmes in developing countries that are Parties to the Kyoto Protocol. The Fund is financed with 2% of the Certified Emission Reduction (CERs) issued for projects of the Clean Development Mechanism (CDM) and other sources of funding.
UNDP has been accredited by the Adaptation Fund Board to implement programmes and projects and is beginning to support countries in accessing these funds.
Further details on UNDPs’ active portfolio of Adaptation projects.