gs1medium

Which of the following statements regarding 'Green Climate Fund' is/are correct?

  1. 1.It is intended to assist developing countries in adaptation and mitigation practices to counter climate change.
  2. 2.It is founded under the aegis of UNEP, OECD, Asian Development Bank and World Bank.

Select the correct answer using the code given below:

  1. A.1 only
  2. B.2 only
  3. C.Both 1 and 2
  4. D.Neither 1 nor 2
▶ Answer & Explanation

Correct answer: A. 1 only

The Green Climate Fund (GCF) was established by the UNFCCC to assist developing countries in addressing climate change by funding projects related to adaptation and mitigation. While the GCF is a major multilateral fund, it is not founded by the OECD, Asian Development Bank, or World Bank, although these organizations may play roles in its operations or be implementing entities. It was established within, and is accountable to, the UNFCCC framework.

Source: UPSC gs1 2015

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