The GEF is expanding engagement with the private sector. The current GEF CEO Vision Statement makes clear that in order to bring transformational change to the global environment, the public and private sectors must identify new ways of working together. Private sector engagement is also a priority in the current funding cycle in GEF-6. As part of its GEF-6 Replenishment and GEF 2020 Strategic Planning, the GEF is actively proving engagement with the private sector.
The GEF has a long history of private sector engagement with a number of successful projects. The experiences of the GEF and its Agencies to engage private sector partners and catalyze private sector investment have been proven successful using five different interventions to promote innovative approaches. Moving forward, the GEF aims to expand private sector investment and commitment to environmental solutions across GEF’s focal areas and initiatives.
Built on the lessons learned, GEF-6 is undertaking a more holistic and comprehensive approach by mainstreaming private sector engagement across GEF focal area strategies and integrated approach pilots. Specifically, the focal area strategies identify potential opportunities to enhance private sector engagement; the integrated approach pilots also emphasize and explicitly include private sector engagement. In addition, a new Non-Grant Pilot Program will support innovative financing models.