Question

What is Green Climate Fund (GCF)?

• A. A global carbon trading platform
• B. A fund to compensate countries for loss and damage due to climate change
• C. A technology transfer platform for climate-friendly technologies
• D. A financial mechanism under the UNFCCC to support climate action in developing countries

Hint:

• The Green Climate Fund (GCF) is the world's largest dedicated climate fund.
• It was established under the UNFCCC (United Nations Framework Convention on Climate Change).
• Its goal is to help developing countries reduce their greenhouse gas emissions (mitigation) and adapt to the impacts of climate change (adaptation).
• It serves as a key financial instrument to support the goals of the Paris Agreement.

Answer 1

The Correct Option is D

The Green Climate Fund (GCF) is recognized as a financial mechanism under the United Nations Framework Convention on Climate Change (UNFCCC). Its primary role is to support climate action in developing countries. This support encompasses mitigation and adaptation initiatives aimed at combating the adverse effects of climate change. The GCF finances projects and programs that encompass low-emission and climate-resilient development pathways.

The Fund operates by channelling financial resources to developing nations, thereby assisting them in reducing greenhouse gas emissions and enhancing their ability to cope with climate change impacts. Its strategic focus on promoting a paradigm shift towards resilient and low-carbon economies distinguishes it as a crucial component in global climate finance architecture.