Consider the following statements with reference to the Green Climate Fund GCF 1 It was established ...........

Environment and Ecology Envirnment and Climate Change

Consider the following statements with reference to the Green Climate Fund (GCF):

1.It was established on the eve of the 1992 Rio Earth Summit to help tackle our planet’s most pressing environmental problems.

2.The Fund aims to give higher priority to the adaptation related investments over time than the mitigation related ones.

3.It is unique in itself that it can directly engage with the private sector in transformational climate sensitive investments.

How many of the statements given above are correct?

Only One

Only Two

All Three

None

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Explanation:

It was established on the eve of the 1992 Rio Earth Summit to help tackle our planet’s most pressing environmental problems: This statement is not correct. The Green Climate Fund (GCF) was established in 2010 under the United Nations Framework Convention on Climate Change (UNFCCC). It became fully operational in 2015.

The Fund aims to give higher priority to adaptation-related investments over time than the mitigation-related ones: This statement is not correct. The Green Climate Fund aims to achieve a balance between adaptation and mitigation efforts, recognizing the importance of addressing both aspects of climate change.

It is unique in itself that it can directly engage with the private sector in transformational climate-sensitive investments: This statement is correct. The Green Climate Fund has a unique feature that allows it to directly engage with the private sector to mobilize funds for transformational climate-sensitive investments.