US pledges $600m to tackle global environmental threats – Reuters
NOTE TO MEDIA
APRIL 19, 2022
The following is published jointly by the US Department of State and the US Department of the Treasury.
On April 8, the United States pledged $600.8 million over the next four years to support the eighth replenishment of the Global Environment Facility (GEF-8). This is the largest pledge ever made by the WEF in the United States. This commitment aligns with ongoing U.S. priorities and supports the Biden-Harris administration’s commitment to fight climate change, conserve global carbon sinks and other critical ecosystems, and restore health. of our oceans. The United States joined 28 other donors in collectively pledging more than $5 billion to support GEF-8, an increase of nearly 30% from GEF-7.
U.S. engagement will help protect tropical rainforests and other critical carbon sinks; fight against plastic pollution of the oceans; combat wildlife trafficking and illegal, unreported and unregulated fishing; and reduce dangerous transboundary pollutants such as PCBs and mercury that can affect Americans’ health. In its fiscal year 2023 budget, the Administration requested $150.2 million for GEF, as the first of four scheduled installments for the United States’ contribution to GEF-8.
The GEF is one of the world’s largest dedicated funders of projects and programs aimed at improving the global environment. The United States supported the establishment of the GEF in 1991 and has contributed to all seven replenishments. Since its launch in 1991, the GEF has provided nearly $22 billion in grants and mobilized an additional $119 billion in co-financing to protect the global environment. The GEF is the world’s largest multilateral source of biodiversity finance and the only multilateral environment fund with a mandate to achieve global environmental benefits across a diverse set of focal areas that also includes chemicals and waste, climate change mitigation, land degradation (including desertification and deforestation), and international waters. The GEF Partnership brings together 184 member governments, 18 implementing agencies, more than 500 civil society organizations, international agencies and funds, and businesses from all major sectors.