Global Environment Facility ( UPSC Prelims)

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News Context

The content discusses an international financial mechanism designed to assist developing countries in tackling complex challenges and striving to achieve international environmental goals. It is recognized as the world's largest multilateral fund for the environment. The 1st Assembly of the Global Environment Facility (GEF) was held in India in 1998. The GEF was established in 1992 during the Rio Earth Summit and serves as a financial mechanism for five major international environmental conventions: the United Nations Framework Convention on Climate Change (UNFCCC), the United Nations Convention on Biological Diversity (UNCBD), the United Nations Convention to Combat Desertification (UNCCD), the Minamata Convention on Mercury, and the Stockholm Convention on Persistent Organic Pollutants (POPs).