This briefing note builds on STAP’s earlier advice to the GEF on co-benefits. To assist the GEF in developing an options paper for the Council, this paper identifies potential co-benefits that can result from GEF projects, provides a guide for incorporating co-benefits into project design, and suggests ways to track and measure co-benefits using existing indicators drawn from Multilateral Environmental Agreements (MEAs) and the Sustainable Development Goals (SDGs).