The GEF hosted a meeting on GEF-5 and Carbon Finance to exchange information and develop a common understanding of GEF’s role in the carbon markets among key stakeholders. Representatives from the GEF Secretariat, Agencies, Council and the Chair of the CDM Executive Board participated in the meeting.
The meeting took stock of the GEF’s engagement in carbon finance and discussed new options under GEF-5 to expand the work with carbon finance. The agencies presented their activities in carbon finance and suggestions for GEF’s involvement in the area. Discussions on the new options were framed into three themes according to the GEF-5 Programming Document:
Theme 1 – Building capacity to help create enabling legal and regulatory environment for carbon finance and support to programmatic carbon finance
Theme 2 – Demonstration of technical and financial viabilities of technologies and co-financing innovative projects
Theme 3 – Development of partial risk guarantees and contingent financing for carbon finance projects.
Through vigorous discussions among the participants, opportunities and challenges for GEF’s engagement in carbon finance were identified.
