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

1
It serves as financial mechanism for 'Convention on Biological Diversity' and 'United Nations Framework Convention on Climate Change'
2
It undertakes scientific research on environmental issues at global level
3
It is an agency under OECD to facilitate the transfer of technology and funds to underdeveloped countries with specific aim to protect their environment
4
Both (a) and (b)

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