Green Climate Fund allots $1bn for poor nations

Note4students

Mains Paper 3: Environment | Conservation, environmental pollution and degradation, environmental impact assessment

From UPSC perspective, the following things are important:

Prelims level: GCF

Mains level:  Utility of the GCF in tackling Climate Change


News

Context

  • The U.N.-backed Green Climate Fund (GCF) has approved more than $1 billion to help poor countries tackle climate change in new investments after a four-day meeting in Bahrain.
  • The GCF said that the meeting approved 19 new projects, including a programme to protect freshwater resources in Bahrain.

Green Climate Fund

  1. 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.
  2. The GCF is based in the Incheon, South Korea.
  3. The objective of the Green Climate Fund is to “support projects, programmes, policies and other activities in developing country Parties using thematic funding windows”.
  4. The Copenhagen Accord established during the 2009 COP-15 in Copenhagen mentioned the “Copenhagen Green Climate Fund”.
  5. The fund was formally established during the 2010 United Nations Climate Change Conference in Cancun as a fund within the UNFCCC framework.
Climate Change Negotiations – UNFCCC, COP, Other Conventions and Protocols
  • Subscribe

    Do not miss important study material

Leave a Reply

Please Login to comment
  Subscribe  
Notify of