Q: With reference to ‘Global Environment Facility’, which
of the following statements is/are correct?
a) It serves as financial mechanism for ‘Convention on Biological Diversity’ and ‘United Nations Framework Convention on Climate Change’
b) It undertakes scientific research on environmental issues at global level
c) It is an agency under OECD to facilitate the transfer of technology and funds to underdeveloped countries with specific aim to protect their environment.
d) Both a) and (b)
The correct answer is Option 1.
The Global Environment Facility (GEF)
- It unites 183 countries in partnership with international institutions, civil society organizations (CSOs), and the private sector to address global environmental issues.
- It serves as financial mechanism for ‘Convention on Biological Diversity’ and ‘United Nations Framework Convention on Climate Change’ It undertakes scientific research on environmental issues at global level.
- It is not an agency under OECD.
- It was established on the eve of the 1992 Rio Earth Summit to help tackle environmental problems.
- It is a private equity fund focused on seeking long term financial returns by investments in clean energy under climate change. Hence Option 1 is Correct.
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