International Current Affairs MCQs

The Loss and Damage fund, operationalized at COP28 in 2023, is designed to provide financial assistance to developing countries that are particularly vulnerable to the adverse effects of climate change, helping them cope with the unavoidable impacts that go beyond what adaptation can address.

The Green Climate Fund (GCF) was established by the 16th Conference of the Parties (COP 16) to the UNFCCC in Cancun in 2010 and serves as a financial mechanism of the UNFCCC.

The goal for developed countries to jointly mobilize $100 billion per year by 2020 for climate action in developing countries was initially pledged at the 2009 Copenhagen Accord and later formalized in the 2010 Cancun Agreements. This target remains a central point of discussion in climate finance debates.

The G7 group consists of Canada, France, Germany, Italy, Japan, the United Kingdom, and the United States. India is not a permanent member of the G7.

Following Italy's hosting of the G7 Summit in 2024, the United States is scheduled to host in 2025, with Canada hosting in 2026.

Canada is next in the rotational presidency to host the G7 Summit in 2026, following the United States in 2025.

Intensified international efforts typically encompass a range of actions, including reducing fossil fuel subsidies, boosting renewable energy investments, and exploring mechanisms like carbon pricing.

Brazil is confirmed to host the COP30 climate summit in Belém in 2025.

COP30, scheduled to be held in Belém, Brazil, is the major climate summit that is driving intensified international efforts.

The UN General Assembly holds its regular annual sessions at its headquarters in New York City.