UPSC Prelims 2015 Q49: Environment & Ecology – International Environmental Treaties & Summits
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
- (b) 2 only
- (c) Both 1 and 2
- (d) Neither 1 nor 2
Answer: (a) 1 only
Explanation
Green Climate Fund (GCF)
Set up in 2010 at COP16, Cancun, as the financial arm of the UNFCCC.
Headquarters: Songdo, Incheon, South Korea.
| Statement | Verdict | Fact |
|---|---|---|
| 1. It is intended to assist the developing countries in adaptation and mitigation practices to counter climate change | Correct | It aims to split funds equally between adaptation and mitigation |
| 2. It is founded under the aegis of UNEP, OECD, Asian Development Bank and World Bank | Incorrect | It was founded under the UNFCCC |
Key facts:
| Feature | Detail |
|---|---|
| Goal linked to it | Developed countries to mobilise 100 billion dollars a year by 2020 |
| Board | 24 members, half from developed and half from developing countries |
| In India | NABARD is an accredited entity |
Answer: (a) 1 only.
Why each option is right or wrong
- (a) CORRECT. The fund helps developing countries with adaptation and mitigation.
- (b) Incorrect. It was not founded under UNEP, OECD, ADB and the World Bank.
- (c) Incorrect. Statement 2 is false; the fund belongs to the UNFCCC process.
- (d) Incorrect. Statement 1 is true; that is the fund's purpose.
Key point
Green Climate Fund (2010, COP16 Cancun): UNFCCC financial mechanism; headquarters Songdo, South Korea; adaptation and mitigation in developing countries.
Remember
Green Climate Fund = UNFCCC, Songdo, 2010.
Common mistakes
- Confusing the Green Climate Fund with the Global Environment Facility.
- Listing multilateral banks as its founders.
- Placing the headquarters in Bonn or Geneva; it is in Songdo.
Exam tip
Climate bodies come from the UNFCCC, not from development banks.
Sources
- Green Climate Fund — About GCF
- UNFCCC — Cancun Agreements (Decision 1/CP.16)