Green Climate Fund:

It is a fund within the framework of UNFCCC
UN backed fund.
It is founded to assist developing countries in adaptation and mitigation practices to counter climate change.
Formed in 2010
First mention of concept in Copenhagen Accord in CoP-15
Formally in CoP-16 at Cancun.
World Bank is chosen as a temporary trustee of the fund.
HQ : Incheon, South Korea
It is intended to be the centrepiece of efforts to raise Climate Finance of $100 billion a year by 2020. This is not an official figure for the size of the Fund itself, however.
The Fund is a unique global initiative to respond to climate change by investing into low-emission and climate-resilient development. It intends to raise $100 billion a year by 2020.
Ministry of Environment, Forests and Climate Change (MoEFCC) has been nominated as India’s Nationally Designated Authority (NDA) for the GCF.
It shall make recommendations on funding proposals in the context of national climate strategies to the Board of the GCF.
NABARD has been accredited by GCF as the first Entity for sourcing financial resources from GCF for India.

Global Environment Facility:

It is an independently operating financial organization
GEF is multilateral financial mechanism that provides grants to developing countries for projects that benefit global environment and promote sustainable livelihoods in local communities.
It was setup as a fund under World Bank in 1991
In 1992, at the Rio Earth Summit, the GEF was restructured and moved out of the World Bank system to become a permanent, separate institution.
Since 1994, however, the World Bank has served as the Trustee of the GEF Trust Fund and provided administrative services.
It is based in Washington DC, United States.
It addresses six designated focal areas:
- biodiversity,
- climate change,
- international waters,
- ozone depletion,
- land degradation and
- Persistent Organic Pollutants.
The program supports an active portfolio of over 200 investments globally.
GEF serves as financial mechanism for :
- Convention on Biological Diversity (CBD)
- United Nations Framework Convention on Climate Change (UNFCCC)
- UN Convention to Combat Desertification (UNCCD)
- Stockholm Convention on Persistent Organic Pollutants (POPs)
- Minamata Convention on Mercury

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