UPSC Prelims 2015 · Question 49 of 98
UPSC Prelims 2015 question on Green Climate Fund
- ExamUPSC CSE
- Year2015
- PaperGeneral Studies Paper I
- SubjectEnvironment and Ecology
- TopicClimate Change
- DifficultyMedium
- TypeStatement
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.
Show answer
Answer: A. 1 only
Verdict
The answer is 1 only. The Green Climate Fund assists developing countries with adaptation and mitigation, but it was not founded under UNEP, OECD or the banks named.
Analysis
Statement 1 is CORRECT. The Fund is structured around two themes, mitigation and adaptation, and channels finance to developing countries for both. Statement 2 is INCORRECT. The Green Climate Fund was established within the framework of the United Nations Framework Convention on Climate Change and is governed by its own Board, not founded under the aegis of the United Nations Environment Programme, the OECD, the Asian Development Bank and the World Bank.
Source
Economic Survey material on climate finance.
How to crack it
Climate finance instruments are created by the climate treaty machinery, so any option attributing one to a development bank or to the OECD is structurally unlikely. Attach each fund to its parent regime once: the Green Climate Fund and the Adaptation Fund to the climate convention, the Global Environment Facility as financial mechanism serving several conventions. The news hook is the running negotiation over the hundred billion dollar climate finance pledge, which keeps this fund examinable every year.
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