Global Climate Finance Architecture

* The BioCarbon Fund Initiative for Sustainable Forest Landscapes (ISFL) is managed by the World Bank. * The World Bank's Carbon Finance Unit handles the day-to-day operations of the BioCarbon Fund, which includes ISFL. * ISFL itself acknowledges the World Bank as the permanent trustee and a key supporter.

**Statement 1 is correct:** The Green Climate Fund was established specifically to support developing countries in their efforts to address climate change. It provides funding for projects aimed at reducing greenhouse gas emissions (mitigation) and adapting to the impacts of climate change (adaptation). **Satement 2 is incorrect:** The GCF is worked under the UNFCCC (United Nations Framework Convention on Climate Change).

Nature-based solutions involve using natural processes to tackle climate change and biodiversity loss, often needing dedicated financial support. ADB launched the **Nature Solutions Finance Hub for Asia and the Pacific** to fund nature-based solutions for climate and environmental challenges in the region.