PARIS SUMMIT ON GLOBAL CLIMATE FINANCING
In News, why?
With the aim of addressing the underfunding of developing nations, the Summit for a New Global Financing Pact was recently convened in Paris. At the 27th Conference of Parties (COP27) of the UNFCCC, the Summit was announced. The finance minister of India also went to the conference.
What are the Summit’s Key Highlights?
The Size of the Crises Facing Developing Nations:
Developing nations are coping with a number of issues, such as poverty, rising debt, and inflation brought on by situations like the Russia-Ukraine Conflict. In addition to facing economic difficulties, developing countries are under pressure to decarbonize their economy but lack adequate climate finance.
Calls for action from the Global South:
Multilateral Development Banks (MDB) must address transnational issues and give more resources for development, including financing for climate change, according to leaders from the Global South. In order to reduce their debt loads, developing countries seek for more grants and concessionary finance. They also push for debt reductions, especially for the least developed countries. They stress that long-term development funds are required to supplement private sector funding while appreciating the potential of private sector investment.
Summit announcements include:
The Summit declared that an additional USD 200 billion in credit capacity will be made available to emerging economies. Disaster clauses were implemented by the World Bank to halt debt payments under severe weather conditions. Despite the fact that some SDRs still need US Congress approval, the IMF announced the allocation of USD 100 billion in SDRs for fragile nations. The goal of a new 2.5 billion euro Just Energy Transition Partnerships (JETP) agreement for Senegal is to raise the proportion of renewable energy in the nation’s electrical mix. Zambia agreed to restructure its USD 6.3 billion debt, and proposals for a Global Review of Experts on Debt, Climate, and Nature.
The EU demanded that carbon pricing mechanisms expand their coverage of global emissions and dedicate a percentage of their proceeds to climate finance. The long-awaited objective of $100 billion in climate finance would be reached this year, according to the Summit. At the UNFCCC COP 15 in Copenhagen in 2009, this promise was made.
Climate Finance: What Is It?
About:
It refers to local, national, or international funding that aims to assist mitigation and adaptation measures that will address climate change and is derived from public, private, and alternative sources of funding.
Global Conversations:
Financial aid from Parties with more financial resources (Developed Countries) to those who are less endowed and more vulnerable (Developing Countries) is mandated by the UNFCCC, the Kyoto Protocol, and the Paris Agreement. The “Common but Differentiated Responsibility and Respective Capabilities” (CBDR) principle is adhered to in this situation. New financial commitments were made at UNFCCC COP26 to help developing nations reach the global objective of coping with the effects of climate change.
Significance:
Impact reduction and adaptation to climate change:
To lessen the effects of climate change, it is necessary to invest heavily and dramatically cut emissions. The requirement for substantial financial resources to adapt to the negative effects of a changing climate makes it equally crucial for adaptation. According to the 2018 IPCC report, climate finance is essential to achieving the objective of keeping the increase in the global average temperature to below 2°C over pre-industrial levels.
Understanding Responsibilities:
It acknowledges that countries’ contributions to climate change and their ability to stop it and deal with its effects vary greatly. Therefore, industrialised nations should continue to take the lead in securing climate finance through a number of initiatives, such as assisting national policies and taking into account the requirements and goals of developing nation Parties.
What do initiatives for climate finance entail?
Global:
At UNFCCC COP 16, the 194 member nations decided to establish the Green Climate Fund (GCF). The GCF was created to help developing nations transition to low-emission and climate resilient development regimes in order to combat climate change. Its main office is in the Republic of Korea’s Incheon. In order to compensate the most vulnerable nations for their losses as a result of climate-related disasters, UN delegates at the COP27 meeting decided to establish a “Loss and Damages” fund.
India:
Climate Change National Adaptation Fund (NAFCC):
It was created in 2015 to cover the costs of climate change adaptation for India’s State and Union Territories, which are particularly susceptible to its negative consequences.
Fund for National Clean Energy:
It was established under the Finance Bill 2010–11 on the advice of the Cabinet Committee on Economic Affairs (CCEA) to support clean energy and was first financed by a carbon tax on sectors that use coal. It is managed by an Inter-Ministerial Group, whose chairman is the finance secretary. Its mission is to support the development and study of cutting-edge clean energy technologies in both the fossil fuel and non-fossil fuel industries.
Fund for National Adaptation:
With a corpus of Rs. 100 crores, the fund was founded in 2014 with the intention of bridging the funding gap. The Ministry of Environment, Forests, and Climate Change (MoEF&CC) is in charge of managing the fund.
Previous Year Questions (PYQ) for the UPSC Civil Services Exam
Prelims
Which of the following claims about the “Green Climate Fund” is true? (2015)
- It aims to support developing nations with their climate change adaptation and mitigation efforts.
- It was established under the auspices of the World Bank, Asian Development Bank, OECD, and UNEP.
Using the code below, choose the right response:
(a) 1 alone
(b) 2 only
(c) 1 and 2 together
None of 1 or 2 (d)
Ans: (a)
Mains:
How did the 26th Conference of the Parties to the United Nations Framework Convention on Climate Change (UNFCCC) achieve its main goals? What pledges did India make at this conference? (2021)
Author: DTE
INDIA’S ESSENTIAL MINERALS
In News, why?
The first-ever study on “Critical Minerals for India” was just made public by the Ministry of Mines, Government of India. It was written by an expert team the Ministry of Mines assembled. According to India’s vision of a strong and resilient mining industry in keeping with the larger objective of reaching “Net Zero” emissions, the report identifies and prioritises minerals necessary for various industrial sectors.
Critical Minerals: What are they?
Minerals:
Natural substances known as minerals are created by geological processes. They have distinct physical and chemical characteristics. They are divided into metallic and non-metallic minerals according to their properties and applications. Iron, copper, gold, silver, and other metals and metal compounds are examples of metallic minerals. Non-metallic minerals, such as limestone, coal, mica, gypsum, etc., are those that are devoid of metals.
Important Minerals:
The lack of availability of these minerals or the concentration of extraction or processing in a small number of geographical sites may result in supply chain vulnerabilities and potentially disruption of supplies. Critical minerals are those minerals that are necessary for economic development and national security.
Statement of Critical Minerals
It is a dynamic process, and when new technology, commercial trends, and geopolitical factors materialise, it may change over time. Depending on their particular objectives and conditions, several nations may have their own distinct lists of essential minerals. 50 minerals have been deemed essential by the US due to their significance for either economic growth or national security. A group of 31 minerals have been deemed essential for the economy of Japan. 18 minerals are deemed important by the UK, 34 by the EU, and 31 by Canada.
India’s essential minerals
A list of 30 important minerals for India has been determined by an expert committee within the Ministry of Mines. These include Antimony, Beryllium, Bismuth, Cobalt, Copper, Gallium, Germanium, Graphite, Hafnium, Indium, Lithium, Molybdenum, Nickel, PGE, Phosphorous, Potash, REE, Rhenium, Silicon, Strontium, Tantalum, Tellurium, Tin, Titanium, Tungsten, Vanadium, Zirconium, Selenium, and Cadmium. The Committe also recommends the establishment of a Centre of Excellence for Critical Minerals (CECM) inside the Ministry of Mines. The critical mineral strategy will occasionally receive updates from CECM regarding the list of vital minerals for India.
What are critical minerals important for India?
Economic Development: These minerals are crucial to sectors including high-tech electronics, telecommunications, transportation, and defence. Critical minerals are also necessary for eco-friendly technology including solar panels, wind turbines, batteries, and electric cars. These industries have a lot of potential in India and can flourish, which can result in the creation of jobs, money, and innovative ideas.
National Security: These minerals are essential for applications in the military, aerospace, nuclear, and space industries, which call for the usage of durable materials that can survive harsh circumstances and carry out intricate tasks. India needs to assure a consistent supply of essential minerals if it wants to maintain defence readiness and independence.
Environmental Sustainability: They are crucial to India’s transition to a low-carbon economy and clean energy sources, allowing for a reduction in its dependency on fossil fuels and greenhouse gas emissions. These minerals are crucial for accomplishing India’s green goals, which include a target to reach 450 GW of renewable energy capacity by 2030.
Cooperation on a global scale: Through these alliances, India may increase the security and resilience of its mineral resources, diversify its import sources, and lessen its reliance on China.
What are the Critical Minerals Challenges for India?
Implications of the Russia-Ukraine Conflict: While Ukraine has reserves of lithium, cobalt, graphite, and rare earth elements, Russia is a large producer of a number of essential minerals. These essential mineral supply lines are impacted by the continuous conflict between the two nations.
Critical minerals like lithium, cobalt, and other rare earth elements have limited domestic reserves in India. Since the majority of these minerals are imported, India is incredibly reliant on outside nations for their supply. This reliance on imports may put a company at risk of supply disruptions, geopolitical events, and price changes.
Greater quantities of minerals including copper, manganese, zinc, lithium, cobalt, and rare earth elements are required for the production of renewable energy technology and the switch to electric vehicles. India is dependent on foreign partners to provide domestic demands because of its small reserves and higher standards.
Conclusion
Through the strategic management of essential minerals, India has the chance to enhance its international collaboration and alliances. India can support the development of international supply chains for important minerals by taking part in programmes like the Mineral Security Partnership (MSP) established by the United States. India’s position in crucial mineral exploration, development, processing, and trade can be further strengthened through bilateral agreements with nations like Australia, Canada, Japan, and South Africa.
Questions from the previous year’s UPSC Civil Services Exam (PYQ)
Mains
- Despite being a member of Gondwanaland, India’s mining industry makes up a much smaller percentage of the country’s Gross Domestic Product (GDP). Discuss. (2021)
- “Coal mining is still necessary for development despite its negative effects on the environment.” Discuss. (2017)
Origin: PIB
INDIA AND THE US REACH A SEMICONDUCTOR AGREEMENT
In News, why?
A Memorandum of Understanding (MoU) was recently inked by the Gujarat State Government and US-based Micron Technology to develop a Semiconductor Unit worth Rs 22,500 crore close to Ahmedabad. An earlier memorandum of understanding (MoU) between India and the US on creating the Semiconductor Supply Chain for the 5th Commercial Dialogue between India and the US in 2023 could help India accomplish its long-cherished aim of being a hub for electronic goods.
What is the MoU’s significance?
With the US’s CHIPS and Science Act, 2022 and India’s Semiconductor Mission in mind, the MoU aims to create a collaboration mechanism on semiconductor supply chain resiliency and diversity. The project aims to increase India’s self-reliance in memory chip production by generating 5,000 direct jobs. It is projected to strengthen India’s position as a major producer of semiconductors and is in line with the government’s objective of encouraging domestic manufacturing and minimising import dependency in the semiconductor sector.
Semiconductor chips: what are they?
About:
Semiconductors are substances with conductivities halfway between those of conductors and insulators. They can be substances like gallium, arsenide, and cadmium selenide or pure elements like silicon and germanium. They are the fundamental components acting as the brain and heart of all contemporary electronics and information and communications technology goods. These chips are now a standard component of modern cars, household appliances, and crucial medical equipment like ECG machines.
Significance:
Almost every industry, including aerospace, transportation, communications, clean energy, information technology, and medical equipment, depends on semiconductors.
There is a global chip shortage as a result of the strong demand for these essential components that has outpaced supply, stunting economic growth and eliminating jobs. Modern electronics, which are the backbone of Industry 4.0’s digital transformation, are built on semiconductors and screens.
What Position Does India Hold in the Semiconductor Industry?
Over 90% of the USD 27 billion Indian semiconductor market in 2022 will be imported, placing a heavy reliance on foreign sources on the part of Indian chip buyers. China, Taiwan, the USA, Japan, and other nations export semiconductors to India. The Indian semiconductor market is anticipated to reach $55 billion by 2026, and the country’s own semiconductor consumption is anticipated to reach $80 billion by 2026 and $110 billion by 2030.
What are the difficulties in manufacturing semiconductors in India?
An incredibly pricey fab setup
Even on a relatively small scale, setting up a semiconductor fabrication plant (or fab) might cost several billion dollars and lag one or two technology generations behind the most recent developments.
Increased Investment:
Manufacturing of semiconductors and displays is a highly complicated and technologically advanced industry that requires major and ongoing expenditures due to its high risk, large capital requirements, lengthy gestation and payback times, and rapid technological advancements.
Little financial assistance from the government:
When one considers the size of investments normally needed to set up manufacturing capacity in the various sub-sectors of the semiconductor industry, the level of fiscal support now envisaged is negligible.
Insufficient Fabrication Capabilities:
India has some capable chip designers, but its chip fab capacity has never grown. Both the ISRO and the DRDO have their own fabrication foundries, however they are mostly used for internal needs and are not the most advanced in the world. There is only one old fab in India, and it is in Mohali, Punjab.
Sector that wastes resources:
In addition to being incredibly thirsty, chip fabs also need a lot of area, a highly reliable power supply, and highly qualified personnel.
What initiatives are there involving semiconductors?
India unveiled its about $10 billion Production-Linked Incentive (PLI) programme in 2021 to promote the production of semiconductors and displays in the nation. The Design Linked Incentive (DLI) Scheme was introduced by MeitY in 2021 with the goal of fostering at least 20 domestic semiconductor design companies and helping them reach a revenue of more than Rs. 1500 crore in the next five years. The Scheme for Promotion of Manufacturing of Electronic Components and Semiconductors (SPECS) has also been launched in India to encourage the production of semiconductors and electronic components. India’s Semiconductor Mission, a comprehensive programme for the creation of a sustainable semiconductors and display ecosystem in India, was introduced in 2021 with a total budgetary investment of Rs 76,000 crore. The mission’s components are as follows:
Plan for building semiconductor factories in India
Fiscal support of up to 50% of Project Cost is available under the Scheme for Establishing Display Fabs in India, subject to a cap of INR 12,000 crore per Fab.
Plan for establishing in India facilities for compound semiconductors, silicon photonics, sensors, and semiconductor ATMP/OSAT.
Way ahead
Building a multilateral semiconductor ecosystem requires favourable trade policies. In addition, India must improve its research and development efforts in this area. To establish the chip manufacturing ecosystem, the Indian government must connect associated industries there. Enhancing national capabilities is necessary. In order to encourage domestic manufacturing and lessen dependence on imports in the semiconductor sector, India could also look into comparable potential to cooperate with other countries, such as Taiwan and Japan or other technologically advanced, friendly nations.
Previous Year Questions (PYQ) for the UPSC Civil Services Exam
Prelims:
Which of the following types of laser is utilised by laser printers? (2008)
(a)Dyes laser
Gas laser (b)
(c) Laser semiconductor
Excimer laser (d)
Ans: (c)
- Consider the following statements in relation to India’s solar power production: (2018)
- India is the third-largest producer of silicon wafers for solar panels in the world.
- The Solar Energy Corporation of India sets the prices for solar energy.
Which of the aforementioned statements is true?
(a) 1 alone
(b) 2 only
(c) 1 and 2 together
None of 1 or 2 (d)
Ans: (d)
Origin: IE
LIVESTOCK REARING AND DAIRYING
In News, why?
Recent successes and initiatives of the Department were emphasised by the Union Minister of Animal Husbandry and Dairy, Government of India, who also emphasised the significance of animal husbandry in increasing rural incomes and promoting agricultural diversification. Over the past nine years, India’s Department of Animal Husbandry and Dairy has made substantial efforts to increase productivity.
What are the successes in dairy and animal husbandry?
Sector of Livestock:
The Indian economy greatly benefits from the livestock sector, which has a compound annual growth rate (CAGR) of 7.93% from 2014–15 to 2020–21. From 24.38% in 2014–15 to 30.87% in 2020–21, the livestock sector’s Gross Value Added (GVA) contribution to all agriculture and related sectors has increased. According to the 20th Livestock Census, there are 303.76 million cattle, 74.26 million sheep, 148.88 million goats, 9.06 million pigs, and 851.81 million chickens in India.
Dairy industry
The largest agricultural sector in India is dairy, which supports over 8 crore farmers directly and makes up 5% of the country’s GDP. India produces 23% of the world’s milk, placing it first in the ranking. In the last eight years, milk output has climbed by 51.05%, and it will reach 221.06 million tonnes in 2021–22. Over the last eight years, milk output has increased at a 6.1% annual growth rate, while global milk production has increased at a 1.2% annual growth rate. India has a per capita milk availability of 444 grammes per day, which is higher than the global average of 394 grammes per day.
Producing meat and eggs:
India is the world’s third-largest producer of eggs and eighth in terms of meat. With an annual growth rate of 7.4%, egg production has climbed from 78.48 billion in 2014–15 to 129.60 billion in 2021–22. From 6.69 million tonnes in 2014–15 to 9.29 million tonnes in 2021–22, more meat will be produced.
What Important Steps Have Been Taken to Improve the Livestock Sector?
Mission Rashtriya Gokul:
Over 5.71 billion animals were covered by the national artificial insemination programme, which benefited 3.74 billion farmers. The unique process of artificial insemination results in the conception of female breeds.
Production of healthy embryos and calf births are used to promote IVF technology. Production of Sex Sorted Sperm: The use of sex sorted sperm with up to 90% accuracy in calf production. More than 90% of the time, only female calves can be born, which will increase milk output in the nation by two times.
DNA-based genomic selection: Animal genotyping for the selection of superior native breeds.
Animal Identification and Traceability: Using UID (unique identification label) tags, 53.5 crore animals were identified and registered.
Pedigree selection and progeny testing are used for particular breeds of cattle and buffalo. Improve animal productivity, manage illnesses, and guarantee quality for domestic and international markets.
Breed Multiplication Farms: Under this programme, private entrepreneurs are eligible to receive a 50% subsidy (up to Rs 2 crore per farm) on capital costs (excluding land costs) for the construction of breed multiplication farms.
Supporting Farmer Producer Organisations and Dairy Cooperatives: Soft working capital loans are given to dairy cooperative societies in times of poor market circumstances or natural disasters.
Infrastructure for milk processing, cooling, and value addition is being built and updated thanks to the Dairy Processing and Infrastructure Development Fund (DIDF).
National Livestock Mission: Provide direct financial aid to people, FPOs, and other organisations to help them start chicken farms, piggery farms, farms for breeding sheep and goats, and farms for producing feed and fodder.
Fund to Develop Animal Husbandry Infrastructure: Encouraging Investments in Dairy and Meat Processing, Animal Feed Plants, and Technology for Breed Improvement.
Programme for the Prevention and Control of Animal Diseases
Animals with ear tags: about 25.04 crores.
24.18 crore animals were inoculated against Foot and Mouth Disease (FMD) in the second round, and 4.66 crore animals are currently being vaccinated against it in Round III.
2.19 crore animals have received the Brucella vaccine.
1960 Mobile Veterinary Units (MVUs) have been launched in 16 States/UTs, with 1181 of those now operating in 10 States.
Integrated Sample Survey and Livestock Census:
Estimates of the main livestock products (Milk, Egg, Meat, and Wool) are provided by the Integrated Sample Survey and are published annually in the Basic Animal Husbandry Statistics (BAHS) publication.
Livestock Census: Provides information on the species and breeds of livestock living in rural and urban households. The publishing of the “20th Livestock Census-2019” report, which contains data on the population of animals by species and state, marks the completion of the 20th Livestock Census in 2019. Additionally, breed-specific livestock and poultry reports were made public.
More than 27.65 lakh new Kisan Credit Cards (KCCs) have been approved for AHD farmers in milk cooperatives and milk producer businesses.
What are the difficulties in dairying and animal husbandry?
concerns with disease control and animal health.
Feed and fodder supply and quality.
lack of contemporary technologies and infrastructure.
Lack of veterinary services and competent workers.
Financial limitations and restricted credit options.
issues with distribution and marketing.
Way ahead
Boost vaccination campaigns, frequent health checks, and disease surveillance and early detection systems for animals. Strengthen veterinary services and infrastructure. Encourage the use of contemporary methods, such as hydroponics and silage production, and create feed processing facilities for a reliable supply of high-quality fodder crops.
source of top-notch food. While silage production entails fermenting and conserving high-moisture fodder crops for livestock, hydroponics is a soil-free growth technique employing nutrient-rich water, feed for animals. Upgrade and modernise veterinary clinics, dairy processing plants, and livestock farms; encourage adoption of cutting-edge technologies; and make research and development investments. Create supportive policies, put them into effect, and offer financial incentives to encourage investments in dairying and animal husbandry.
Previous Year Questions (PYQ) for the UPSC Civil Services Exam
Prelims
Q.1 Take into account the following Indian crops: (2012)
- Cowpea
- gramme green
- Animal pea
Which of the aforementioned is/are used as green manure, feed, and pulse?
(a) Only 1 and 2
(b) 2 only
(c) Only 1 and 3
(d) 1, 2 and 3
Ans: (a)
Mains
Q.1 Livestock rearing has a great deal of potential to generate revenue and non-farm jobs in rural areas. Discuss possible strategies for promoting this industry in India. (2015)
Origin: PIB
INVENTIVE ECOSYSTEM IN INDIA
In News, why?
According to the “slowdown in India’s startup ecosystem” report, India added only three unicorns’ startups having a valuation of over USD 1 billion in 2023 against 24 in the year-ago period, according to the ASK Private Wealth Hurun Indian Future Unicorn Index 2023. This sharp decline in new additions to the coveted unicorn list indicates a slowdown in the Indian startup ecosystem.
What is the Indian startup ecosystem’s scenario?
As of May 31, 2023, India, which ranks second among middle-income economies in terms of innovation quality and holds the top spots for both the quality of its universities and the quality of its scientific publications, has become the third-largest startup ecosystem in the world.
An increase of 15 times in startup funding
An rise of 9X in investors
7X more incubators are now available.
India is home to 108 unicorns as of May 2023, with a combined market value of USD 340.80 billion. Of the total, 44 unicorns were born in 2021, while 21 unicorns were born in 2022.
What lingo is used in relation to startups?
Decacorn is currently valued at more than $10 billion.
Unicorns: formed after the year 2000 and valued at $1 billion are known as unicorns.
Gazelles: Businesses most likely to become unicorns in the following three years.
Cheetahs: Start-ups with a five-year chance of becoming unicorns.
What difficulties do Indian startups face?
Funding Obstacles:
Indian startups face challenges in attracting investors and obtaining venture capital due to various factors such as risk aversion, uncertain market conditions, and lack of investor confidence. Limited access to capital inhibits their growth potential and hampers innovation.
Problems with revenue generation:
Many startups struggle to find workable business models, monetize their goods or services, and turn a profit. They also frequently face challenges with limited market reach, competition from established players, and inadequate customer acquisition.
Lack of Infrastructure Support:
Challenges include inadequate physical infrastructure, limited access to technological resources, a lack of incubation centres, mentorship programmes, and networking opportunities. Startups require supportive environments to thrive and access necessary resources, expertise, and guidance. The absence of a robust infrastructure ecosystem can impede the growth of startups.
Regulatory Framework and Taxation:
Regulatory barriers, confusing regulations, and bureaucratic red tape make it difficult for startups to operate in India. Complex tax structures can increase administrative costs and have an adverse effect on profitability.
What startup-related initiatives does the Indian government have?
NIDHI stands for the National Initiative for Developing and Harnessing Innovations
(SIAP) Startup India Action Plan
State Support for Startup Ecosystems Ranking (RSSSE)
The Startup India Seed Fund Scheme (SISFS) intends to give companies financial support for product development, market entry, prototype testing, and commercialization.
The National Startup Awards are designed to honour and reward exceptional entrepreneurs and ecosystem builders who are promoting economic dynamism by fostering innovation and introducing competition.
The Shanghai Cooperation Organisation (SCO) Startup Forum was established in October 2020 with the goal of jointly enhancing startup ecosystems.
Prarambh: The ‘Prarambh’ Summit aims to give businesses and young minds from all over the world a forum to develop fresh concepts, inventions, and innovations.
Way ahead
‘Flipping’ is the process of transferring the entire ownership of an Indian company to an overseas entity, including the transfer of all Intellectual Property and data owned by the Indian company. Typically, flipping happens at the early stage of the startup. However, this trend can be reversed wi
Origin: IE
RATIFICATION OF THE HQ AGREEMENT WITH CDRI IS APPROVED BY INDIA.
In News, why?
The Headquarters Agreement (HQA) between the Government of India and the Coalition for Disaster Resilient Infrastructure (CDRI) recently received the Union Cabinet’s blessing for ratification.
Describe CDRI.
About:
National governments, UN organisations, multilateral development banks, the corporate sector, and academic and research institutes collaborate globally as part of CDRI to advance the resilience of infrastructure systems to climate and disaster risks.
Aim:
Assisting nations in creating standards, norms, principles, and best practises for resilient infrastructure will ensure sustainable development.
Members:
31 nations, 6 international organisations, and 2 business sector organisations have become members of CDRI since it was founded.
Six international organisations are involved: the European Union, the Asian Development Bank (ADB), the World Bank Group, the United Nations Development Programme (UNDP), and the United Nations Office for Disaster Risk Reduction (UNDRR).
Gains from Ratification of the HQA
By facilitating the grant of exemptions, immunities, and privileges to CDRI as provided for in Section 3 of the UN (Privileges & Immunities) Act, 1947, ratifying the HQA will increase India’s credibility and visibility as a founding member and host nation of CDRI, as well as CDRI’s ability to operate as an international organisation and collaborate with other international entities in pursuing its goals.
Relevance to India:
It increases India’s soft power, but more importantly, CDRI has broader implications than just economics, as synergy between disaster risk reduction, Sustainable Development Goals (SDGs), and climate accords, giving India a platform to become a global leader in climate action and disaster resilience.
What initiatives does CDRI have?
Building Resilient Island States’ Infrastructure (IRIS):
As a component of the CDRI, India started an effort that would concentrate on developing pilot projects and strengthening capacity, particularly in Small Island Developing States, or SIDS.
Accelerator Fund for Resilient Infrastructure:
The Infrastructure Resilience Accelerator Fund is a trust fund that will be administered by the UN Multi-Partner Trust Fund Office (UNMPTFO) and is supported by the United Nations Development Programme (UNDP) and the United Nations Office for Disaster Risk Reduction (UNDRR). Its goal is to assist in enhancing the ability of infrastructure systems to withstand disasters, with a particular focus on developing nations and SIDS.
Origin: PIB
LIGHTNING-FAST CURRENT AFFAIRS
WORLD HERITAGE BANKING: G-20 CURRENCY EXHIBITION
The “Banking on World Heritage” exhibition, which is being held in India and at the Indira Gandhi National Centre for Arts, showcases currency notes from G-20 nations that feature UNESCO world heritage sites. It includes Indian currency notes, such as the “10 note with the Sun Temple,” “20 note with the Ellora caves,” “500 note with the Red Fort,” and “two “100 notes that feature the Kanchenjunga mountains and Guj”
ASPARTAME’S DESIGNATION AS A POTENTIAL CARCINOGEN
The International Agency for Research on Cancer (IARC), the cancer research arm of the World Health Organisation (WHO), is poised to declare Aspartame, the most widely used artificial sweetener in the world, as a potential carcinogen. The IARC was established in 1965 by a resolution of the World Health Assembly as the specialised cancer agency of the WHO.
AJAY BANGA, HONOURED AS ONE OF THE “GREAT IMMIGRANTS”
Ajay Banga, the president of the World Bank and the first Indian American to head the organisation, has been named to the annual “Great Immigrants” list compiled by the Carnegie Corporation of New York.
IN THE JDCC MEETING, INDIA AND TANZANIA STRENGTHEN THEIR DEFENCE TIES.
India and Tanzania recently held the second Joint Defence Cooperation Committee (JDCC) meeting in Arusha, Tanzania, with the goal of exploring ways to work together to improve security in the Indian Ocean region. Both parties came to an agreement on a five-year roadmap for defence cooperation, which includes various initiatives like customised training, capacity building, maritime cooperation, infrastructure development, and cooperation in defensible space.