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Consider the following statements regarding climate finance for developing nations:
1. Climate finance includes financial flows from public, private, and alternative sources directed towards both mitigation and adaptation efforts.
2. The Copenhagen Accord of 2009 established a commitment by developed nations to provide $100 billion annually in climate finance by 2020, which has consistently been met since the target year.
3. Loans constitute a significant portion of reported climate finance, contributing to the debt burden of developing countries.
Which of the statements given above is/are correct?
  • a)
    1 Only
  • b)
    1 and 2 Only
  • c)
    1 and 3 Only
  • d)
    1, 2 and 3
Correct answer is option 'C'. Can you explain this answer?
Most Upvoted Answer
Consider the following statements regarding climate finance for devel...
1. Statement 1 is correct. Climate finance indeed encompasses financial flows from various sources, including public, private, and alternative, aimed at both mitigating greenhouse gas emissions and adapting to climate change impacts. This definition aligns with the UNFCCC's understanding of climate finance.
2. Statement 2 is incorrect. The Copenhagen Accord did establish a commitment for developed nations to provide $100 billion annually in climate finance by 2020. However, this target has not been consistently met, with significant gaps between commitments and actual disbursements reported by several sources over the years.
3. Statement 3 is correct. A substantial portion of reported climate finance is provided as loans rather than grants. This has been a point of contention as it increases the debt burden on developing nations, which often prefer concessional loans or grants to alleviate financial strains.
Thus, the correct answer is Option C, as statements 1 and 3 are correct, while statement 2 is not.
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Consider the following statements regarding climate finance for developing nations:1. Climate finance includes financial flows from public, private, and alternative sources directed towards both mitigation and adaptation efforts.2. The Copenhagen Accord of 2009 established a commitment by developed nations to provide $100 billion annually in climate finance by 2020, which has consistently been met since the target year.3. Loans constitute a significant portion of reported climate finance, contributing to the debt burden of developing countries.Which of the statements given above is/are correct?a)1 Onlyb)1 and 2 Onlyc)1 and 3 Onlyd)1, 2 and 3Correct answer is option 'C'. Can you explain this answer?
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Consider the following statements regarding climate finance for developing nations:1. Climate finance includes financial flows from public, private, and alternative sources directed towards both mitigation and adaptation efforts.2. The Copenhagen Accord of 2009 established a commitment by developed nations to provide $100 billion annually in climate finance by 2020, which has consistently been met since the target year.3. Loans constitute a significant portion of reported climate finance, contributing to the debt burden of developing countries.Which of the statements given above is/are correct?a)1 Onlyb)1 and 2 Onlyc)1 and 3 Onlyd)1, 2 and 3Correct answer is option 'C'. Can you explain this answer? for UPSC 2024 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about Consider the following statements regarding climate finance for developing nations:1. Climate finance includes financial flows from public, private, and alternative sources directed towards both mitigation and adaptation efforts.2. The Copenhagen Accord of 2009 established a commitment by developed nations to provide $100 billion annually in climate finance by 2020, which has consistently been met since the target year.3. Loans constitute a significant portion of reported climate finance, contributing to the debt burden of developing countries.Which of the statements given above is/are correct?a)1 Onlyb)1 and 2 Onlyc)1 and 3 Onlyd)1, 2 and 3Correct answer is option 'C'. Can you explain this answer? covers all topics & solutions for UPSC 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Consider the following statements regarding climate finance for developing nations:1. Climate finance includes financial flows from public, private, and alternative sources directed towards both mitigation and adaptation efforts.2. The Copenhagen Accord of 2009 established a commitment by developed nations to provide $100 billion annually in climate finance by 2020, which has consistently been met since the target year.3. Loans constitute a significant portion of reported climate finance, contributing to the debt burden of developing countries.Which of the statements given above is/are correct?a)1 Onlyb)1 and 2 Onlyc)1 and 3 Onlyd)1, 2 and 3Correct answer is option 'C'. Can you explain this answer?.
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