Latest news with #GEF
Deccan Herald
3 days ago
- Business
- Deccan Herald
Oldest climate fund plans wildlife bonds across Africa
The world's oldest multilateral climate fund, the Global Environment Facility, is planning a new wave of wildlife conservation bonds in a bid to help African countries save endangered species and ecosystems. Wildlife bonds, which provide low-cost funding in return for cutting poaching or other measures, were pioneered in 2022 with a World Bank-backed rhino bond and have seen a number of other examples since. There was an issue targeting chimpanzee protection in Rwanda last year, and last month the GEF approved one for lemur conservation in Madagascar. Fred Boltz, head of programming at GEF, which is linked to the World Bank, told Reuters on the sidelines of a meeting of African environment ministers that it aims to do one for every one of the 54 countries in Africa. He said such a move would require an investment of $150 million from GEF, which would then be leveraged 10 times to provide a total of $1.5 billion for conservation efforts through other borrowing. Money borrowed using wildlife bonds does not typically go onto the books of beneficiary governments, meaning they can offer much-needed financing to poorer countries, climate finance experts say. They usually target emblematic species in order to appeal to specialist investors and wealthy philanthropists and their payouts are directly linked to conservation - the better the result the less the governments are usually required to pay out. But GEF now hopes they can be expanded to include entire ecosystems such as wetlands, Boltz said. The push by the fund, which was formed after the landmark Rio Earth Summit of 1992, comes as aid and development funding cuts by the United States and other major economies threatens some conservation projects. "Many countries are asking, are suggesting, that in this tough official development assistance environment, that maintaining the last level of (species) replenishment may be difficult," Boltz said, "and that we might need to try to do more with less". $7.7 billion investment The Global Environment Facility (GEF) has in total invested $7.7 billion in Africa in various projects, such as an $85 million effort to fight desertification in the Sahel region. It is currently urging donors to replenish its cash for its next four-year cycle of programmes, starting next year. Its last fundraising for its current cycle raised $5.3 billion - an increase of more than 30% from its last operating period amid a surge of support for international efforts to meet nature and climate targets. That funding round got money from 29 countries, with the U.S. among the biggest donors, contributing $700 million.
The Herald
5 days ago
- Business
- The Herald
Climate fund targets wildlife bonds for every country in Africa
He said the move would require an investment of $150m (R2.6bn) from the GEF, which would be leveraged 10 times to provide a total of $1.5bn (R26.7bn) for conservation efforts through other borrowing. Money borrowed using wildlife bonds does not typically go onto the books of beneficiary governments, meaning they can offer much-needed financing to poorer countries, climate finance experts said. They usually target emblematic species to appeal to specialist investors and wealthy philanthropists, and their payouts are directly linked to conservation, meaning the better the result the less governments are usually required to pay out. The GEF hopes they can be expanded to include entire ecosystems such as wetlands, Boltz said. The push by the fund, formed after the landmark Rio Earth Summit of 1992, comes as aid and development funding cuts by the US and other major economies threatens some conservation projects. "Many countries are suggesting that in this tough official development assistance environment, maintaining the last level of replenishment may be difficult," Boltz said, "and we might need to try to do more with less". The GEF has in total invested $7.7bn (R137bn) in Africa in projects, including an $85m (R1.5bn) effort to fight desertification in the Sahel region. It is urging donors to replenish its cash for its next four-year cycle of programmes, starting next year. Its last fundraising for its cycle raised $5.3bn (R94bn), an increase of more than 30% from its last operating period amid a surge of support for international efforts to meet nature and climate targets. That funding round received money from 29 countries, with the US among the biggest donors, contributing $700m (R12.4bn). Reuters
TimesLIVE
5 days ago
- Business
- TimesLIVE
Climate fund targets wildlife bonds for every country in Africa
He said the move would require an investment of $150m (R2.6bn) from the GEF, which would be leveraged 10 times to provide a total of $1.5bn (R26.7bn) for conservation efforts through other borrowing. Money borrowed using wildlife bonds does not typically go onto the books of beneficiary governments, meaning they can offer much-needed financing to poorer countries, climate finance experts said. They usually target emblematic species to appeal to specialist investors and wealthy philanthropists, and their payouts are directly linked to conservation, meaning the better the result the less governments are usually required to pay out. The GEF hopes they can be expanded to include entire ecosystems such as wetlands, Boltz said. The push by the fund, formed after the landmark Rio Earth Summit of 1992, comes as aid and development funding cuts by the US and other major economies threatens some conservation projects. "Many countries are suggesting that in this tough official development assistance environment, maintaining the last level of replenishment may be difficult," Boltz said, "and we might need to try to do more with less". The GEF has in total invested $7.7bn (R137bn) in Africa in projects, including an $85m (R1.5bn) effort to fight desertification in the Sahel region. It is urging donors to replenish its cash for its next four-year cycle of programmes, starting next year. Its last fundraising for its cycle raised $5.3bn (R94bn), an increase of more than 30% from its last operating period amid a surge of support for international efforts to meet nature and climate targets. That funding round received money from 29 countries, with the US among the biggest donors, contributing $700m (R12.4bn).
The Star
10-07-2025
- General
- The Star
RM177mil conservation initiative for Indo-Malaya forests unveiled
FILE PHOTO: A file photo of a tiger in the Royal Belum State Park in Perak. The Indo-Malaya forest, spanning from Bhutan to Papua New Guinea, is home to over 5,000 threatened species. PHNOM PENH: A global conservation agency announced a RM177 million (US$42 million) project to protect the Indo-Malaya forest, one of the world's last remaining major primary forest areas. The International Union for Conservation of Nature (IUCN) announced last month that the Indo-Malaya forest, spanning from Bhutan to Papua New Guinea, is home to over 5,000 threatened species. IUCN warned that about 60 per cent of the region's original vegetation has already been lost. The remaining primary forests are under pressure from unsustainable agriculture, logging and competing land use. The forest plays a crucial role for over 560 million people in the region, providing resources such as water regulation, carbon removal, timber and non-timber forest products, said IUCN in a statement. "The Global Environment Facility (GEF) funding is provided by participating donor countries and made available to developing countries and countries with economies in transition to meet the objectives of international environmental conventions and agreements,' Switzerland-based IUCN press office told Bernama. The IUCN announced the new initiative named the South-East Asia and the Pacific Forests Integrated Programme aimed at strengthening the health and connectivity of primary forests across the region. Launched at an inception workshop in Chiang Mai, Thailand, the programme seeks to tap biodiversity and climate benefits while ensuring the sustainability of local livelihoods. The IUCN and the Food and Agriculture Organisation of the United Nations (FAO) are the lead implementors of the project. "The Indo-Malayan forest biome is one of the world's most ancient and ecologically rich ecosystems - a living reservoir of biodiversity, culture and climate resilience. "With growing pressure on these forests, this new programme offers a timely and transformative opportunity to turn the tide,' said IUCN Director General Dr Grethel Aguilar. The project aims to improve the management of 3.2 million hectares of protected areas and over seven million hectares of landscapes, while also working to restore 8,500 hectares of degraded ecosystems and mitigate 34 million tonnes of greenhouse gas emissions. According to the IUCN, these efforts are expected to benefit nearly 20,000 people. "The primary forests of South-East Asia and the Pacific provide essential services to the whole region, especially rural communities who depend on forest resources for their livelihoods and food security. "This collaboration across countries and organisations will drive down the risks of biodiversity loss and climate change for better production, better nutrition, better environment and better life,' said FAO Assistant Director-General and Regional Representative for Asia and the Pacific Alue Dohong. - Bernama
Barnama
06-07-2025
- General
- Barnama
Safeguarding Indo-Malaya Forests: RM177 Million Conservation Initiative Unveiled
IndoMalaya is one of the world's major ecozones and home to 5,000 threatened species. (Photo credit: FAO) By Vijian Paramasivam PHNOM PENH, July 6 (Bernama) -- A global conservation agency announced a RM177 million (US$42 million) project to protect the Indo-Malaya forest, one of the world's last remaining major primary forest areas. The International Union for Conservation of Nature (IUCN) announced last month that the Indo-Malaya forest, spanning from Bhutan to Papua New Guinea, is home to over 5,000 threatened species. bootstrap slideshow IUCN warned that about 60 per cent of the region's original vegetation has already been lost. The remaining primary forests are under pressure from unsustainable agriculture, logging, and competing land use. The forest plays a crucial role for over 560 million people in the region, providing resources such as water regulation, carbon removal , timber and non-timber forest products, said IUCN in a statement. 'The Global Environment Facility (GEF) funding is provided by participating donor countries and made available to developing countries and countries with economies in transition to meet the objectives of international environmental conventions and agreements,' Switzerland-based IUCN press office told Bernama. The IUCN announced the new initiative named the Southeast Asia and the Pacific Forests Integrated Programme aimed at strengthening the health and connectivity of primary forests across the region. Launched at an inception workshop in Chiang Mai, Thailand, the programme seeks to tap the biodiversity and climate benefits while ensuring the sustainability of local livelihoods. The IUCN and the Food and Agriculture Organisation of the United Nations (FAO) are the lead implementors of the project.
