Which of the following statements regarding ‘Green Climate Fund’ is/are correct?
- 1. It is intended to assist the developing countries in adaptation 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.
1 only
2 only
Both 1 and 2
Neither 1 nor 2
Answer is Right!
Answer is Wrong!
This question was previously asked in
UPSC IAS – 2015
Statement 2 is incorrect. The Green Climate Fund was established by 194 countries at the 16th session of the Conference of the Parties (COP 16) to the UNFCCC in Cancun in 2010. While it collaborates with various international organizations including multilateral development banks and UN agencies, it was not founded under the aegis of UNEP, OECD, Asian Development Bank, and World Bank collectively or as its founding bodies. It operates within the framework of the UNFCCC.
– Its primary goal is to support developing countries in climate change mitigation and adaptation.
– It was established by the UNFCCC parties, not specific listed international organizations.