With reference to 'Global Environment Facility', which of the following statements is/are correct?

Correct Option (A):

The Global Environment Facility (GEF), established in 1991, serves as the financial mechanism for several key multilateral environmental agreements. These include the Convention on Biological Diversity (CBD) and the United Nations Framework Convention on Climate Change (UNFCCC), as stated in the option. It also serves the Stockholm Convention on Persistent Organic Pollutants and the Minamata Convention on Mercury, among others. Its primary role is to provide funding for projects addressing global environmental issues.

Incorrect Options:

Option 2: The GEF's mandate is to provide financial support for projects related to global environmental protection, not to undertake primary scientific research on environmental issues at a global level. While it funds projects that may involve research components, it does not directly conduct scientific research itself.

Option 3: The GEF is not an agency under the Organisation for Economic Co-operation and Development (OECD). It operates as a unique partnership among 18 implementing agencies, including the United Nations Development Programme (UNDP), the United Nations Environment Programme (UNEP), and the World Bank. Its purpose is to address global environmental challenges by facilitating funding and technology transfer.

Option 4: As statement (2) is incorrect, this option, which combines a correct statement (1) with an incorrect statement (2), is also incorrect.