Climate Change Mitigation Strategy
The overall goal of the GEF in climate change mitigation is to support developing countries and economies in transition to move toward a low-carbon development path.
The long-term impact of the GEF work will be a slower growth in GHG emissions to the atmosphere from the GEF-recipient countries and contribution to the ultimate objective of the UNFCCC, which is to achieve “stabilization of greenhouse gas concentrations in the atmosphere at a level that would prevent dangerous anthropogenic interference with the climate system.”
The Climate Change Mitigation Strategy for GEF-5 (2010-2014) consists of six objectives:
- Promote the demonstration, deployment, and transfer of innovative low-carbon technologies.
- Promote market transformation for energy efficiency in industry and the building sector.
- Promote investment in renewable energy technologies.
- Promote energy efficient, low-carbon transport and urban systems.
- Promote conservation enhancement of carbon stocks through sustainable management of land use, land-use change, and forestry.
- Support enabling activities and capacity building.
The first objective will focus on technologies at the stage of market demonstration or commercialization where technology push is still critical. The second through fifth objectives focus on technologies that are commercially available but face barriers and require market pull to achieve widespread adoption and diffusion. The last objective is devoted to supporting enabling activities and capacity building, such as National Communications to the Convention.
Development of the GEF-5 climate change mitigation strategy was guided by three principles:
- Responsiveness to Convention guidance;
- Consideration of national circumstances of recipient countries;
- Cost-effectiveness in achieving global environmental benefits.
GEF-5 will endeavor to make a transformative impact in helping GEF-recipient countries move to a low-carbon development path through market transformation and investment in environmentally sound, climate-friendly technologies.