With reference to ‘Global Environment Facility’, which of the following statements is/are correct?
[UPSC Civil Services Exam – 2014 Prelims]
(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 Global Environment Facility (GEF) 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.
- It does not directly undertake any scientific research on environmental issues. Hence Option 2 is NOT Correct.
- It is a program under the World Bank. Hence Option 3 is NOT Correct.