Overview of GEF Mandate in Energy Efficiency

Abstract

Open image in new window As an operating entity of the financial mechanism of the United Nations Framework Convention on Climate Change (UNFCCC), the Global Environment Facility (GEF) has a mandate to provide financial resources to support the diffusion and transfer of Environmentally Sound Technologies (ESTs) to developing countries, and the development of such technologies within these countries. The GEF is also designated by the UNFCCC to finance capacity building and development in climate change mitigation and adaptation in developing countries. In addition, the GEF Council has frequently articulated the importance of co-finance to maximize global environmental benefits with limited resources of the GEF. This chapter presents basic information about the GEF as a financial institution and its governance. The information will improve the understanding of how a GEF project is designed, managed, implemented, and evaluated by different GEF stakeholders. A number of key parameters in GEF energy efficiency project development and evaluation are discussed in the context of closing the gap of global energy efficiency.