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.
Answer & explanation
Answer: (a) 1 only
The Green Climate Fund (GCF) funds climate mitigation and adaptation projects in developing countries. It was set up by the Parties to the UNFCCC at COP 16 (Cancun, 2010), not under UNEP, OECD, the Asian Development Bank or the World Bank.
- ✓ 1. COP 16 decided that the GCF would support projects, programmes and policies in developing country Parties. It funds both mitigation and adaptation, aiming for a balance between the two.
- ✗ 2. The GCF was established by decision 1/CP.16 as an operating entity of the UNFCCC's financial mechanism, and it works under the guidance of the Conference of the Parties. UNEP, OECD and the Asian Development Bank had no founding role. The World Bank was only invited to serve as the Fund's interim trustee.
Remember · The GCF was created at COP 16, Cancun (2010), as an operating entity of the UNFCCC financial mechanism. It finances mitigation and adaptation in developing countries.
Sources
- UNFCCC – Cancun Agreements, Decision 1/CP.16 (FCCC/CP/2010/7/Add.1) ↗ “Decides to establish a Green Climate Fund, to be designated as an operating entity of the financial mechanism of the Convention under Article 11”
- Green Climate Fund – About GCF ↗ · reference work “Established in 2010 by the 194 parties to the United Nations Framework Convention on Climate Change (UNFCCC), GCF is an operating entity of the financial mechanism of the UNFCCC.”
Question: UPSC Civil Services (Preliminary) 2015, General Studies Paper I. Explanation: Minimalist IAS, checked 25 Oct 2026 (how we verify). ·
