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 Dev

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Q: 99 (IAS/2015)

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.

question_subject: 

Economics

question_exam: 

IAS

stats: 

0,224,101,224,12,82,7

keywords: 

{'green climate fund': [0, 0, 0, 1], 'asian development bank': [0, 0, 2, 2], 'climate change': [1, 0, 2, 2], 'world bank': [0, 1, 0, 3], 'mitigation practices': [0, 0, 0, 1]}

The correct answer is:

1 only.

Statement 1 is correct. The Green Climate Fund (GCF) is indeed intended to assist developing countries in adaptation and mitigation practices to counter climate change. It aims to provide financial resources to support developing countries in their efforts to address climate change challenges, including reducing greenhouse gas emissions and adapting to the impacts of climate change.

Statement 2 is incorrect. The Green Climate Fund is not founded under the aegis of UNEP (United Nations Environment Programme), OECD (Organisation for Economic Co-operation and Development), Asian Development Bank, or World Bank. The GCF is an independent financial mechanism established under the United Nations Framework Convention on Climate Change (UNFCCC).

Therefore, the correct answer is "1 only."