In the run-up towards the GEF’s seventh replenishment period (GEF-7 starting in 2018), the Independent Evaluation Office of the GEF undertook an evaluation focused on the GEF’s private sector engagement. The study analyzes the environmental finance landscape, assesses the GEF’s private sector engagement activities, and provides recommendations for roles, instruments and tangible measures that the GEF could incorporate to strengthen its collaboration with the private sector. The evaluation is based on extensive desk research, a survey among 60 GEF stakeholders, and in-depth interviews.