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

  • It serves as financial mechanism for ‘Convention on Biological Diversity’ and ‘United Nations Framework Convention on Climate Change’
  • It undertakes scientific research on environmental issues at global level
  • It is an agency under OECD to facilitate the transfer of technology and funds to underdeveloped countries with specific aim to protect their environment
  • Both (a) and (b)

Answer: (a) It serves as financial mechanism for ‘Convention on Biological Diversity’ and ‘United Nations Framework Convention on Climate Change’.

Global Environment Facility (GEF)
  • The Global Environment Facility (GEF) is a multilateral financial mechanism that provides grants to developing countries for projects that benefit the global environment and promote sustainable livelihoods in local communities.
  • GEF was established during the Rio Earth Summit of 1992.
  • It is based in Washington, D.C., United States.
  • The GEF is jointly managed by the United Nations Development Programme (UNDP), the World Bank, and the United Nations Environment Programme (UNEP).
  • 183 nations are united under GEF in partnership with civil society organizations (CSOs), international institutions, private sector, etc. to address the environmental issues across the globe.
  • The financial mechanism was established to help tackle our planet’s most pressing environmental problems. It provides funds to the developing countries and transition economies for projects related to climate change, biodiversity, the ozone layer, etc.
  • Since its inception, this multilateral financial mechanism has advanced $21.1 billion in grants and mobilized an additional $114 billion in financing for more than 5,000 projects in 170 countries.
OECD
  • The Organisation for Economic Co-operation and Development (OECD) was founded in 1948 as the Organisation for European Economic Co-operation (OEEC).
  • The OECD is an intergovernmental economic organisation, founded to stimulate economic progress and world trade. Most OECD members are high-income economies with a very high Human Development Index (HDI) and are regarded as developed countries.
  • Members of the OECD are democratic countries that support free markets.
  • It gives its member countries a place to share policy experiences, look for solutions to common challenges, discover and share best practices, and coordinate domestic and international policies.
  • The Organization for Economic Cooperation and Development (OECD) is a think-tank or monitoring group that is an official Permanent Observer to the United Nations.
  • The OECD’s headquarters are located in Paris, France, in the Château de la Muette.
  • In 2017, the OECD member states accounted for 62.2 percent of global nominal GDP (US$49.6 trillion) and 42.8 percent of global GDP (International $ 54.2 trillion) at purchasing power parity.
  • As of Jan 2023, there are 38 members
    • Australia, Austria, Belgium, Canada, Chile, Colombia, Costa Rica, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Iceland, Ireland, Israel, Italy, Japan, South Korea, Latvia, Lithuania, Luxembourg, Mexico, Netherlands, New Zealand, Norway, Poland, Portugal, Slovak Republic, Slovenia, Spain, Sweden, Switzerland, Turkey, United Kingdom, and the United States are among the 38 member countries.
  • India is not a member of OECD.
    • Brazil, Russia is also not the Member of OECD.
  • Reports and Indices by OECD
    • Government at a Glance 2017 report.
    • International Migration Outlook.
    • OECD Better Life Index.