| What is/are the correct statement(s) about the Green Climate Fund (GCF) |
| 1. The Green Climate Fund (GCF) is a fund within the framework of the UNFCCC founded as a mechanism to redistribute money from the developed to the developing world, in order to assist the developing countries in adaptation and mitigation practices to counter climate change. |
| 2. It was founded as a mechanism to redistribute money from the developed to the developing world, ir order to assist the developing countries in adaptation and mitigation practices to counter climate change. |
| 3. It was also founded to make a significant and ambitious contribution to the global efforts towards attaining the goals set by the international community to combat climate change. |
A) Only 1
B) Only 2
C) All of these
D) (d) None of these
Correct Answer: C
Solution :
[c] At a recently concluded meeting of the Green Climate Fund's Board in Zambia, developed countries including the US have refused to commit to a deadline by which the rest of the money ($ 4.37 billion) would be deposited with the Fund. At present, Green Climate Fund has only $5.83 billion in its kitty. The US informed that it would not be able to provide the pledged $3 billion by December 2015 to the Green Climate Fund. The EU finance ministers have also concluded their meeting without committing to a clear road-map for delivery of their fair share towards the annual $ 100 billion corpus target, which is to be delivered by 2020. The Green Climate Fund (GCF) is a fund within the framework of the UNFCCC founded as a mechanism to redistribute money from the developed to the developing world, in order to assist the developing countries in adaptation and mitigation practices to counter climate change. It was founded as a mechanism to redistribute money from the developed to the developing world, in order to assist the developing countries in adaptation and mitigation practices to counter climate change.
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