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 codes given below:

Question

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 codes given below:

CollectorBabu · Accepted Answer

Correct Answer: 1 only. Green Climate Fund is a financial mechanism of UN Framework Convention on Climate Change that help developing countries to control carbon emissions. It receives/takes donations from developed countries and distributes it in developing nations so as to balance costs of change to renewable energy sources thereby adapting to effects of climate change. This statement confirms that it is correct. Statement 2 is incorrect as Green Climate Fund is not founded under guidance of UNEP, OECD, Asian Development Bank and World Bank. This eliminates option B, C and D; hence A is correct option.

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