Explanation:

• Correct Option: (c)
• Both statements are correct Supplementary notes: Green Climate Fund The Green Climate Fund (GCF) is a fund established within the framework of the UNFCCC as an operating entity of the Financial Mechanism to assist developing countries in adaptation and mitigation practices to counter climate change.
• The GCF is based in Incheon, South Korea.
• It is governed by a Board of 24 members and supported by a Secretariat.
• The Copenhagen Accord, established during the 2009 United Nations Climate Change Conference (COP-15) in Copenhagen mentioned the “Copenhagen Green Climate Fund”.
• The fund was formally established during the 2010 United Nations Climate Change Conference in Cancun as a fund within the UNFCCC framework.
• Its governing instrument was adopted at the 2011 United Nations Climate Change Conference (COP 17) in Durban, South Africa.
• US and European Union contribute to the fund largely.
• 54% of the climate mitigation cost comes from these countries.
• The World Bank served as the interim trustee of the GCF until 2018, when a GCF Board decision con fi rmed the World Bank as the GCF Trustee for a renewable four-year period (2019- 2023).
• Around 154 countries are eligible to receive the fund.
• Issue has been pointed that countries are not receiving Green Climate Fund, especially those in Africa. This is due to the lengthy and complicated process of accessing the fund.The issue of GCF has been in the forefront in almost every international climate meet.During the COP26 held in Glasgow in 2021, the developing countries roared their concerns around the issue.
• The developing countries called out that the developed nations failed to deliver the promise of 100 billion USD goal.
• Between 2015 and 2019, countries received 2.5 billion USD.
• Of this 54% went to the Small Island Developing States, African countries and Least Developing Countries.
• But still 16 out of 37 eligible countries did not receive the funding.