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.
- (a) 1 only ✓ UPSC's answer
- (b) 2 only
- (c) Both 1 and 2
- (d) Neither 1 nor 2
Why the answer is (a)
• The Green Climate Fund was established in 2010 at the Cancun COP16 as the financial mechanism of the UNFCCC to help developing countries with mitigation and adaptation (statement 1); it is headquartered in Songdo, South Korea.
• Statement 2 is wrong: it was founded under the UNFCCC, not by UNEP, OECD, ADB and the World Bank (the World Bank serves only as interim trustee).
• Hence 1 only, option (a).
Why the other options are wrong
- (b) 2 only
- Statement 2 is wrong: GCF is under the UNFCCC.
- (c) Both 1 and 2
- Statement 2 is wrong.
- (d) Neither 1 nor 2
- Statement 1 is correct: GCF aids developing countries.
Asked in the GS Paper I of the UPSC Civil Services Preliminary Examination 2015, held on 23 August 2015. Question and answer key: Union Public Service Commission. Explanation: UPSC Answer Check.