6. GEF Energy Efficiency Investment Portfolio

As of 30 June 2010, the Global Environment Facility (GEF) had invested US$9.5 billion in six focal areas, with the climate change mitigation focal area receiving the largest proportion of funds. Within the climate change focal area, investments in energy efficiency received the highest proportion of funds when exclusive and mixed energy efficiency projects are included. From 1991 to 30 June 2010, the GEF has invested US$872 million in 162 exclusive energy efficiency projects in 35 countries. Of the 162 projects, 49 were completed by 30 June 2010. China has developed and implemented the largest number of GEF energy efficiency projects involving a significant amount of GEF funds. Two Agencies, the World Bank and the United Nations Development Programme (UNDP), implemented 85 % of the 162 projects and utilized almost 90 % of total funds (GEF resources and co-finance). Within energy efficiency, buildings projects received the most funding. In addition to the 162 financed projects, 75 energy efficiency projects were slowly moving and 65 of these were exclusively focused on energy efficiency alone. The 49 completed and 65 slowly moving projects are the basis for this analysis.