With respect to the Loss and Damage fund, which of the following observations is/are correct?

The Loss and Damage fund was officially agreed upon at the UN climate conference in Sharm El-Sheikh, Egypt, in 2022.

The fund aims to provide financial support to vulnerable nations affected by climate change.

The United Nations Development Programme (UNDP) oversees the initial coordination of the fund.

Select the correct option from the codes given below:

Question

The Loss and Damage fund was officially agreed upon at the UN climate conference in Sharm El-Sheikh, Egypt, in 2022. Correct: The Loss and Damage fund was indeed officially agreed upon during the UN climate conference in Sharm El-Sheikh, Egypt, in 2022, marking a significant step in addressing climate impacts on vulnerable nations.
The fund aims to provide financial support to vulnerable nations affected by climate change. Correct: The primary purpose of the fund is to provide financial compensation to developing countries suffering from the adverse effects of climate change, thereby supporting their recovery and resilience efforts.
The United Nations Development Programme (UNDP) oversees the initial coordination of the fund. Incorrect: The World Bank will oversee the initial coordination of the Loss and Damage Fund, ensuring the efficient allocation of resources and aiding nations in their recovery efforts.

GKToday Admin · Accepted Answer

1 and 2

The Loss and Damage fund was officially agreed upon at the UN climate conference in Sharm El-Sheikh, Egypt, in 2022. Correct: The Loss and Damage fund was indeed officially agreed upon during the UN climate conference in Sharm El-Sheikh, Egypt, in 2022, marking a significant step in addressing climate impacts on vulnerable nations.
The fund aims to provide financial support to vulnerable nations affected by climate change. Correct: The primary purpose of the fund is to provide financial compensation to developing countries suffering from the adverse effects of climate change, thereby supporting their recovery and resilience efforts.
The United Nations Development Programme (UNDP) oversees the initial coordination of the fund. Incorrect: The World Bank will oversee the initial coordination of the Loss and Damage Fund, ensuring the efficient allocation of resources and aiding nations in their recovery efforts.

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