page 1
page 2
page 3
page 4
page 5
page 6
page 7
page 8
page 9
page 10
page 11
page 12
page 13
page 14
page 15
page 16
page 17
page 18
page 19
page 20
page 21
page 22
page 23
page 24
page 25
page 26
page 27
page 28
page 29
page 30
page 31
page 32
page 33
page 34
page 35
page 36
page 37
page 38
page 39
page 40
page 41
page 42
page 43
page 44
page 45
page 46
page 47
page 48
page 49
page 50
page 51
page 52
page 53
page 54
page 55
page 56
page 57
page 58
page 59
page 60
page 61
page 62
page 63
page 64
page 65
page 66
page 67
page 68
page 69
page 70
page 71
page 72
page 73
page 74
page 75
page 76
page 77
page 78
page 79
page 80
page 81
page 82
page 83
page 84
page 85
page 86
page 87
page 88
page 89
page 90
page 91
page 92
page 93
page 94
page 95
page 96
page 97
page 98
page 99
page 100
page 101
page 102
page 103
page 104
page 105
page 106
page 107
page 108
page 109
page 110
page 111
page 112
page 113
page 114
page 115
page 116
page 117
page 118
page 119
page 120
page 121
page 122
page 123
page 124
page 125
page 126
page 127
page 128
page 129
page 130
page 131
page 132

imperative and the GEF historically has and willcontinue to play a key role in assisting countries makestrategic choices that address climate concerns. At therequest of the Parties to the UNFCCC, the GEFmanages the Special Climate Change Fund (SCCF)and the Least Developed Countries Fund (LDCF) -both funds recognise that in the world's poorestcountries adaptation is a matter of life or death.Integrating adaptation into existing developmentprogrammes is essential to make future growth moreresilient. For example, in China, an SCCF grant ismainstreaming climate change resilience into a majorinvestment for the agriculture sector in the"breadbasket of China". In the Andes region, anotherSCCF project is helping countries deal with the impactof melting glaciers on local and national water supply.Investing in adaptation also means we need to pursuefinance path-breaking strategies: for example, in thehealth sector, we hope to make investments in vector-038FINANCEAbove: Local villagersand engineers inBhutan's Lunana regionare working to preventclimate-inspired glaciallake flooding throughGEF adaptation projects

change induced glacial lake outburst floods happening(through artificially lowering the water levels of one ofthe most dangerous glacier lakes), but also introducesmeasures and capacities such as early warningsystems and evacuation plans that will reduce theimpact of glacier lake outburst floods if or when they happen.These GEF successes are the result of many visionaries,many donors, and many partners. Over our history wehave laid a strong foundation to learn from and build.We see ourselves as a learning organisation with aunique role - to catalyse in the developing world waysto transfer new technology and to adapt to the existingchallenges of climate change. As the global communitybegins to embrace and accelerate future investments to protect the climate and promote sustainabledevelopment on a much larger scale, we believe that GEF investments will again lead the way. nABOUT THE AUTHORMonique Barbut, a French national, has been the Chief Executive Officer (CEO) and Chairperson of the Global Environment Facility since August2006. She was appointed by a unanimous decision of the GEF Council in June 2006. During her tenure she initiated widely recognised path-breaking reforms that have made the GEF organisation a more effective, responsive and results-basedinstitution. In November 2008, Monique Barbut was re-appointed by the GEF Council for an additional three-year term; as CEO she also led a record replenishmentfor the GEF's fifth funding cycle with donors recentlyannouncing a record US$4.3 billion over the nextfour years. Prior to joining the GEF, Mrs Barbut served as Directorof the Division of Technology, Industry andEconomics of the United Nations EnvironmentProgramme (UNEP) from September 2003 to July2006, where she undertook a reorganisation of theDivision and established a pragmatic approach toensuring the link between environment andeconomics, setting up development policies and pilotprojects, including in developing countries orcountries experiencing critical backgrounds (Chinaand Iraq).As a member of the French government delegation tothe 1992 Rio Earth Summit, Mrs Barbut was a keyplayer in the financing negotiations, and later on anactive negotiator in the creation of the GlobalEnvironment Facility (GEF) as well as the FrenchGlobal Environment Facility (FGEF), to which she wasappointed first Chief Executive Officer.FINANCE039control programmes in areas where changingtemperature and rainfall patterns create a newenvironment for diseases such as malaria and denguefever. Similarly, new investments in flood managementwill be required when frequency of flooding increases,especially if settlements have to be abandoned andpopulations relocated. We know this from past practice: in Bhutan, the LDCFfunded a project which limits the actual risk of climate