Which of the following statements regarding 'Green Climate Fund' is/are correct? 1. It is intended to assist the developing countries in adaptation and mitigation practices to counter climate change. 2. It is founded under the aegis of UNEP, OECD, Asian Development Bank and World Bank. Select the correct answer using the code given below.

Statement 1 is correct as the Green Climate Fund (GCF) is a dedicated global platform established to support developing countries in reducing greenhouse gas emissions (mitigation) and enhancing their ability to respond to climate change (adaptation). Statement 2 is incorrect because the GCF was established by the 194 parties to the United Nations Framework Convention on Climate Change (UNFCCC) during the 2010 Cancun Agreement, rather than being an initiative of the UNEP, OECD, or World Bank. The core concept being tested is the institutional framework and mandate of international climate finance mechanisms.