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