In promoting the global environment, GEF has become the largest project sponsor in the world. The purpose of the fund is to help developing countries implement projects to protect the global environment, such as preventing climate change, protecting biological species, protecting water resources and reducing the damage to the ozone layer, by providing financial assistance and transferring harmless technologies.
The institutions of the Global Environment Facility include the Assembly of Member States, the Council, the Secretariat, the implementing agencies, the Science and Technology Advisory Group and the National Liaison Officer. Among them, the general meeting of member States is held every four years, which is responsible for reviewing and approving the overall policy of the fund and evaluating the operation of the fund according to the report submitted by the board of directors; The Board of Directors meets once every six months in Washington, D.C., or whenever necessary, to decide the guidelines for fund planning. The open policy of the board of directors to representatives of non-governmental organizations and social groups makes it unique among international financial institutions. The Secretariat plays a key role and has veto power over projects submitted for approval; The executing agencies are the World Bank, the United Nations Development Programme and the United Nations Environment Programme; The Science and Technology Advisory Group is an important technical advisory body of the Global Environment Facility, which can mobilize hundreds of scientists around the world to provide advice to the implementing agencies on the scientificity and appropriateness of project proposals; The national focal point helps to ensure that the applied projects come from national priority areas.
As an international financial mechanism, the Global Environment Facility (GEF) provides financial support to recipient countries (including developing countries and some countries with economies in transition) mainly through grants or other forms of preferential support, so as to obtain global environmental benefits and promote sustainable development that is conducive to the environment of recipient countries. All developing countries whose per capita GNP is equal to or lower than $4,000 in the 1989 United Nations Development Programme project are eligible for investment project funds and all related assistance from the Global Environment Facility.
Four main funding areas of the Global Environment Facility: biodiversity, climate change, international waters and the ozone layer. The Global Environment Facility can also fund activities related to land degradation.