DAILY CURRENT AFFAIRS IAS | UPSC Prelims and Mains Exam – 24th September 2024
Archives (PRELIMS & MAINS Focus) SIXTH QUAD LEADERS’ SUMMIT Syllabus Prelims & Mains – INTERNATIONAL Context: Recently, Prime Minister Modi participated in the sixth Quad Leaders’ Summit in Wilmington, Delaware during his three day visit to US. Background: – Emphasizing that the Quad leaders were convening amidst global tensions, Prime Minister Narendra Modi reaffirmed that the alliance is not directed against any nation. He highlighted that the Quad stands in support of a rules-based international order, upholds respect for sovereignty and territorial integrity, and advocates for the peaceful resolution of disputes. Key takeaways Modi’s remarks during the Quad summit at President Joe Biden’s hometown of Delaware were a thinly veiled reference to China and its aggressive behaviour in the Indo-Pacific region. Wilmington Declaration The Quad declaration, adopted after the summit, focused on “militarisation” and “intimidating maneuvers in the South China Sea”. It also addressed other key global issues, including the conflicts in Ukraine and Gaza. The declaration highlighted the negative impacts of the war in Ukraine with regard to global food and energy security. The declaration also condemned the ongoing attacks perpetrated by the Houthis and their supporters against international and commercial vessels transiting through the Red Sea and the Gulf of Aden, which are destabilising the region and impeding navigational rights and freedoms and trade, and jeopardise the safety of vessels and people. The Quad leaders also announced the Quad Cancer Moonshot — a groundbreaking partnership that will focus initially on combating cervical cancer in the Indo-Pacific region while laying the groundwork to address other forms of cancer as well. The Quad is more strategically aligned than ever before and is a force for good that delivers real, positive, and enduring impact for the Indo-Pacific, said the Wilmington Declaration issued after the summit. The next Quad Foreign Ministers’ meeting will be hosted by the US in 2025, and the Quad Leaders’ Summit will be hosted by India in 2025. In 2025, the Quad Regional Ports and Transportation Conference is also likely to be held in Mumbai. The US Coast Guard, Japan Coast Guard, Australian Border Force, and Indian Coast Guard plan to launch a first-ever Quad-at-Sea Ship Observer Mission in 2025, to improve interoperability and advance maritime safety. A new regional Maritime Initiative for Training in the Indo-Pacific (MAITRI) was announced to enable partners in the region to “maximize tools provided through IPMDA (Indo-Pacific Maritime Domain Awareness ) and other Quad partner initiatives, to monitor and secure their waters, enforce their laws, and deter unlawful behaviour.” India will host the inaugural MAITRI workshop in 2025. The launch of a Quad Indo-Pacific Logistics Network pilot project was also announced. Source: Indian Express CLIMATE FINANCE ISSUES Syllabus Prelims & Mains – CURRENT EVENT Context: Azerbaijan, the host of this year’s climate conference, COP29, has proposed to launch a new climate fund for developing countries. Background: – Climate finance refers to the investments that are needed to tackle climate change by way of either preventive steps to reduce emissions, known as mitigation or preparatory steps to tackle its impacts, known as adaptation. Key takeaways Azerbaijan’s proposal comes at a time when negotiation on climate finance agreement is struggling to make progress. Finalising this finance agreement is the main agenda before COP29, which is scheduled to run from November 11 to 22 in Baku. The rich and industrialised countries are currently under an obligation to mobilise at least $100 billion annually for developing countries. The Paris Agreement, however, mandates that this amount must be increased after 2025 and every five years thereafter. The new fund proposed by Azerbaijan is unlikely to make a substantial difference to the availability of climate finance for developing countries. Currently, there are strong differences over even definitions of climate finance. Developing countries complain of double-counting and innovative accounting, and say that the actual amount of money flowing in for climate action is significantly lower than the claims made by developed countries. The other complaint relates to the neglect of adaptation activities. Most of the climate finance flows are directed at mitigation projects, the ones that lead to emissions reductions. This is because mitigation brings global dividends. Any emission reduction anywhere in the world benefits the entire planet. On the other hand, adaptation has local benefits. Donor countries are less inclined to invest in projects that only benefit the recipients. Developing countries have been demanding that adaptation should receive at least 50% of climate finance, much more than the less than 20% that has gone into it so far Developed countries are demanding the expansion of donor base.For instance, China, today the world’s second-largest economy, South Korea, and the oil-rich Gulf nations such as Saudi Arabia and Qatar do not have any financing obligations under the UNFCCC. Azerbaijan’s proposed fund is supposed to be financed by oil and gas producing countries, and corporations, but in a voluntary manner. This has raised questions over the amount of money it can attract as even funds to which countries are obligated to contribute have remained undercapitalised. For instance, the Loss and Damage Fund — created at COP27 in Egypt, in 2022, after years of negotiation — has so far received pledges of just $600-700 million. Azerbaijan’s fund, even if created, would not have the same status. It has not come through negotiations but at the initiative of a host country. Primarily, it is an effort towards leaving a legacy, much like similar initiatives by previous COP presidencies in the past. Source: Indian Express INDO-PACIFIC ECONOMIC FRAMEWORK FOR PROSPERITY (IPEF) Syllabus Prelims – INTERNATIONAL Context: India signed the US-led 14-member Indo-Pacific Economic Framework for Prosperity (IPEF) bloc’s agreements on a clean and fair economy. Background: Agreement on clean economy intends to accelerate efforts of IPEF partners towards energy security, GHG emissions mitigation, developing innovative ways of reducing dependence on fossil fuel and promoting technical cooperation. Agreement on fair economy intends to create transparent and predictable business environment, which can spur greater trade and investment in member countries. About Indo-Pacific Economic Framework for Prosperity (IPEF) The Indo-Pacific Economic Framework for Prosperity (IPEF) is a strategic initiative
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