GEF Press Release GOLD Launch (February 18-19, 2019): New $180-million Global Environment Facility programme will improve conditions for artisanal miners across eight countries while slashing harmful mercury emissions
The GOLD program will be implemented by the United Nations Environment Program (UN Environment), the United Nations Development Program (UNDP), the United Nations Industrial Development Organization (UNIDO), and Conservation International (CI), in cooperation with partners from industry, governments and civil society including the Natural Resources Defense Council (NRDC) and Artisanal Gold Council (AGC), amongst others.
The GEF GOLD program will accelerate the development of the artisanal and small-scale gold mining (ASGM) sector into a professional segment of the gold industry as part of the effort needed to reduce its mercury use and other deleterious environmental and social impacts. As one of its main goals, GOLD will develop and connect responsible ASGM producers to international markets through transparent supply chains. The program’s direct funding of $45.2 million, will come from the Global Environment Facility (GEF), with co-financing of more than $135 million from governments, sustainable finance institutions, and the private sector
The program will work in 8 countries: Burkina Faso, Colombia, Guyana, Indonesia, Kenya, Mongolia, Peru, and The Philippines.
Policy support and creation of a good practices framework to encourage professionalization of the sector, in line with the UNDP Sustainable Development Goals.
Facilitating investment and finance opportunities in socially responsible artisanal gold through accreditation, capital investments, and linking supply chains.
Investors will have opportunities to participate in finance and investment models such as:
- Risk Sharing Facility
- Revolving Loan Fund
- Leasing Vehicle
- 2 kg Model
- Hub and Spoke Model
- Bank of ASGM
- Downstream and Other Investment
- Finance platform
Promoting the transition to mercury-free mineral processing to meet Minamata Convention obligations through technology and training with the intent to help the sector fulfill its development potential as a source of livelihoods for rural populations.
Ensuring project outcomes are documented, measured, and shared for easy replication and growth. There is also a program-wide effort to collect, share, and create knowledge resources, such as case studies, guidance documents, and training materials. Target-specific communication tools and media will be used to raise awareness on the development potential of the sector of financial and private sector partners, artisanal miners, technical partners, and the general public.
For more information, please contact:
Susan Egan Keane, Deputy Director, Health and Environment Program, NRDC, +1.202.289.2389, firstname.lastname@example.org
Dr. Kevin Telmer, Ph.D., Executive Director, +1.250.590.9433, email@example.com