With reference to Global Environment Facility, which of the following statements is/are correct?

Question

With reference to Global Environment Facility, which of the following statements is/are correct?

1. It was established in 1991.

2. Only the developed countries are donors to it.

Select the correct answer from the code given below:

1. A. Only 2
2. B. Neither 1 nor 2
3. C. Both 1 and 2
4. D. Only 1 (Correct answer)

Correct Answer

Option D — Only 1

Detailed Solution & Explanation

The correct answer is Only 1.

Key Points

• Statement 1 is correct. The Global Environment Facility (GEF) was established in 1991, on the eve of the Rio Earth Summit.
• Statement 2 is incorrect. Donors are not limited to developed countries. The GEF is funded by a broad group of contributors, and several developing countries — India among them — are also donors.
• Only statement 1 holds, giving option (d).

Additional Information

• The GEF is the financial mechanism for several major environmental conventions: the UNFCCC, the Convention on Biological Diversity (CBD), the UN Convention to Combat Desertification (UNCCD), the Stockholm Convention on Persistent Organic Pollutants and the Minamata Convention on Mercury.
• It is an independent financial organisation, headquartered at Washington D.C., and is replenished by donor pledges every four years.
• The Ministry of Environment, Forest and Climate Change is India's nodal agency for the GEF; India is both a donor and a recipient, and one of the founding participants.
• Other climate finance mechanisms to keep distinct: the Green Climate Fund (GCF), the Adaptation Fund, the Least Developed Countries Fund and the Loss and Damage Fund agreed at COP27 and operationalised at COP28.