UPSC Prelims 2015 Question:

Which of the statements regarding ‘Green Climate Fund’ is/are correct?

1. It is intended to assist the developing countries in adaption and mitigation practices to counter climate change.
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:

Explanation:

• The Green Climate Fund (GCF) aims to make an ambitious contribution for the implementation of the Paris Agreement and its mitigation and adaptation goals by supporting the paradigm shift in developing countries towards low-carbon and climate-resilient development pathways. So, statement 1 is correct.
  
  
•  The GCF, established in 2010, is part of the financial mechanism of the UN Framework Convention on Climate Change (UNFCCC) and serves in the same function for the Paris Agreement. So, statement 2 is not correct.
  
  

Therefore, option (1) is the correct answer.  

Subject: Environment | Environmental Organisations and Conventions