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.

Let's analyze the statements regarding the 'Green Climate Fund' (GCF): 1. It is intended to assist the developing countries in adaptation and mitigation practices to counter climate change: This statement is correct. The Green Climate Fund was established to support developing countries' efforts to address climate change. Its mandate is to finance adaptation and mitigation projects, programs, policies, and other activities in these nations. 2. It is founded under the aegis of UNEP, OECD, Asian Development Bank and World Bank: This statement is incorrect. The Green Climate Fund was established by 194 countries at the 2010 United Nations Climate Change Conference (COP 16) in Cancun, Mexico, as an operating entity of the financial mechanism of the United Nations Framework Convention on Climate Change (UNFCCC). While organizations like UNEP, the World Bank, and regional development banks might be involved in various capacities (e.g., as implementing agencies or providers of expertise), they are not the founding bodies or direct aegis under which the GCF was established. Its foundation is rooted directly in the UNFCCC process. Therefore, only statement 1 is correct.