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Q49 (IAS/2015) Environment & Ecology › Climate Change & Global Initiatives › Global climate finance Official Key

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.

Result
Your answer: —  ·  Correct: A
Explanation

The correct answer is option A (1 only).

**Statement 1 is correct:** The Green Climate Fund (GCF) was established at COP 16 held in Cancun (in 2010) within the framework of the UNFCCC, and is intended to mobilise [1]a flow of climate finance to invest in low-emission and climate-resilient development.[1] The GCF supports projects, programmes, policies and other activities in developing country Parties.[2] This clearly indicates that the fund assists developing countries in both adaptation and mitigation practices.

**Statement 2 is incorrect:** The Green Climate Fund was established within the framework of the UNFCCC[1], not under the aegis of UNEP, OECD, Asian Development Bank and World Bank as mentioned in the statement. The World Bank was invited by COP to serve as the interim trustee of the GCF subject to a review three years after operationalization of the Fund.[2] The World Bank serves only as an interim trustee, not as a founding organization alongside UNEP, OECD, and ADB.

Sources
  1. [1] Indian Economy, Nitin Singhania .(ed 2nd 2021-22) > Chapter 21: Sustainable Development and Climate Change > SUSTAINABLE DEVELOPMENT GOALS > p. 599
  2. [2] Environment, Shankar IAS Acedemy .(ed 10th) > Chapter 24: Climate Change Organizations > Green Climate Fund > p. 328
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Q. Which of the following statements regarding 'Green Climate Fund' is/are correct? 1. It is intended to assist the developing countries in …
At a glance
Origin: From standard books Fairness: High fairness Books / CA: 10/10 · 0/10
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This is a textbook 'Parent Body Swap' trap. Statement 1 defines the mandate correctly, while Statement 2 creates a fictional administrative coalition. For every international fund, you must memorize the 'Parent Treaty' (UNFCCC) and the 'Trustee' (World Bank), and never confuse the two.

How this question is built

This question can be broken into the following sub-statements. Tap a statement sentence to jump into its detailed analysis.

Statement 1
Is the Green Climate Fund intended to assist developing countries with climate change adaptation and mitigation measures?
Origin: Direct from books Fairness: Straightforward Book-answerable
From standard books
Environment, Shankar IAS Acedemy .(ed 10th) > Chapter 24: Climate Change Organizations > Green Climate Fund > p. 345
Presence: 5/5
“• Administered by to be confirmed • Area of focus: Adaptation, Mitigation general, Mitigation - REDD • Date operational: 2015 The Green Climate Fund (CCF) was adopted as a financial mechanism of the UN Framework Convention on Climate Change (UNFCCC) at the end of 2009.”
Why this source?
  • Explicitly lists GCF area of focus as Adaptation and Mitigation (including REDD).
  • Identifies the Green Climate Fund as a UNFCCC financial mechanism, implying its role in climate finance.
Indian Economy, Nitin Singhania .(ed 2nd 2021-22) > Chapter 21: Sustainable Development and Climate Change > SUSTAINABLE DEVELOPMENT GOALS > p. 599
Presence: 5/5
“Green Climate Fund (GCF) - At COP 16 held in Cancun (in 2010), the Green Climate Fund (GCF) was established within the framework of the UNFCCC. The Fund is governed by the GCF Board. GCF is intended to mobilise a flow of climate finance to invest in low-emission and climate-resilient development. Global Environment Facility (GEF) - The Global Environment Facility (GEF) was set up on the eve of the 1992 Earth Summit. Through strategic investments, the GEF works to tackle the planet's most pressing environmental problems. The GEF Small Grants Programme provides financial support to civil society and community initiatives in different countries.”
Why this source?
  • States GCF is intended to mobilise climate finance to invest in low-emission (mitigation) and climate-resilient (adaptation) development.
  • Connects the Fund's purpose directly to financing both mitigation and adaptation activities.
Environment, Shankar IAS Acedemy .(ed 10th) > Chapter 24: Climate Change Organizations > 201tl : > p. 322
Presence: 4/5
“Sixteenth Conference of the Parties resulted in the Cancun Agreements, a comprehensive package by governments to assist developing nations in dealing with climate change. The Green Climate Fund, the Technology Mechanism and the Cancun Adaptation Framework are established. [4. rillll[J$ All Rights Reserved. No part of this material may be reproduced in any form or by any means, without permission in writing.”
Why this source?
  • Notes the Green Climate Fund was established under the Cancun Agreements to assist developing nations in dealing with climate change.
  • Provides context that GCF was created as part of mechanisms aimed at supporting developing countries.
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