The shipping industry could contribute up to 17 per cent of global CO2 emissions by 2050 if left unregulated. Therefore, the International Maritime Organisation has an integral…
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In 2014, Transparency International published its Anti-corruption Assessment of the Global Environment Facility’s (GEF’s) Least Developed Countries Fund and the Special Climate Change Fund. This study was conducted in conjunction with assessments of other major climate funds operational at the time, including the Adaptation Fund and the Climate Investment Funds. While climate finance is only part of the GEF’s entire funding portfolio, as the Facility is also a financial mechanism under the United National Framework Convention on Climate Change and under the Paris Agreement, it was and remains included in Transparency International’s climate finance integrity assessments. The 2014 assessment reviewed the Funds’ governance design and transparency, accountability and integrity policies and procedures with a view to identifying and promoting best practices for effective governance models for climate finance. The assessment recognised a number of best practices exhibited by the GEF, including its fiduciary, access to information and public participation policies. It also recommended areas where GEF policies and practices could be strengthened.
This Progress Report recognises progress achieved by the GEF Council and the Secretariat in responding to these recommendations. Additionally, it includes an assessment and rating of three new indicators regarding the Fund’s access to information, anti-money laundering and procurement safeguards policies and practices. The report is based on a desk review of Council decisions and Secretariat actions demonstrated in reports, information documents and website updates up to March 2017. The report also takes into account comments provided by the GEF Secretariat on this draft report.