DAILY CURRENT AFFAIRS IAS | UPSC Prelims and Mains Exam – 15th December 2023
Archives (PRELIMS & MAINS Focus) Climate Change Performance Index 2023 Syllabus Prelims-IMPORTANT INDICES Context: Recently, India ranked 7th on the climate change performance index 2023. Background:- India ranked up one spot from the previous one and also remained among the highest performers. About Climate Change Performance Index:- Published since: 2005. Time period: annual. Published by German Watch, New Climate Institute and Climate Action Network International based in Germany. Objective: to enhance transparency in international climate politics and enables comparison of climate protection efforts and progress made by individual countries. Climate Change Performance Index (CCPI) is an independent monitoring tool for tracking the climate protection performance of 59 countries and the EU. These 59 countries together account for 92% of global greenhouse gas emissions. The climate protection performance is assessed in four categories: GHG Emissions (40% of overall score), Renewable Energy (20% of overall score), Energy Use (20% of overall score) and Climate Policy (20% of overall score). Key highlights:- Denmark retained the top spot with a score of 75.59 per cent. Estonia and the Philippines occupied the second and third ranks respectively, with 72.07 and 70.70. Saudi Arabia was at the bottom 67th in the performance list, The host country United Arab Emirates occupied the 65th position. India’s performance:- While India is the world’s most populous country, it has relatively low per capita emissions, the index said. The Climate Change Performance Index (CCPI) country experts reported that India is trying to meet its Nationally Determined Contributions (NDCs), with clear long-term policies in place that focus on promoting renewable energy and providing financial support for domestic manufacturing of renewable energy components. India’s growing energy needs are still being met by its heavy reliance on coal, along with oil and gas, the report pointed out. “This dependence is a major source of greenhouse gas emissions and causes severe air pollution, especially in the cities.( Green future for Indian cities) India has relatively high taxes on petrol and diesel, which are intended to act as carbon taxes. The impact of these taxes on consumption remains disputed. Suggestions:- The policies are largely mitigative, yet they should also focus on transformative adaptation and disaster risk management. The policymakers should also adopt ecosystem-based solutions and consider equity. MUST READ: Mitigating Climate Change SOURCE: INDIA TODAY PREVIOUS YEAR QUESTIONS Q.1) In the context of India’s preparation for Climate-smart Agriculture, consider the following statements: (2021) The ‘Climate-Smart Village’ approach in India is part of a project led by Climate Change, Agriculture, and Food Security (CCAFS), an international research program. The project of CCAFS is carried out under the Consultative Group on International Agricultural Research (CGIAR) headquartered in France. The International Crops Research Institute for the Semi-Arid Tropics (ICRISAT) in India is one of the CGIAR’s research centres. Which of the statements given above is correct? 1 and 2 only 2 and 3 only 1 and 3 only 1,2 and 3 Q.2) Consider the following statements: (2022) The Climate Group is an international non-profit organization that drives climate action by building large networks and running them. The International Energy Agency in partnership with the Climate Group launched a global initiative “EP100”. EP100 brings together leading companies committed to driving innovation in energy efficiency and increasing competitiveness while delivering on emission reduction goals. Some Indian companies are members of EP100. The International Energy Agency is the Secretariat to the “Under2 Coalition”. Which of the statements given above is correct? 1,2, 4 and 5 1,3 and 4 only 2,3 and 5 only 1,2, 3, 4 and 5 Exchange-Traded Funds (ETFs) Syllabus Prelims –ECONOMY Context: Employees’ Provident Fund Organisation (EPFO) has invested Rs 27,105 crore in exchange-traded funds (ETFs) during the current fiscal till October, Parliament was informed recently. Background:- EPFO had invested Rs 53,081 crore in the ETFs during the fiscal 2022-23, higher than Rs 43,568 crore in 2021-22, Minister of State for Labour and Employment Rameshwar Teli said in a written reply to the Lok Sabha. About Exchange-Traded Funds (ETFs):- An exchange-traded fund (ETF) is a collection of investments such as equities or bonds. ETFs will let one invest in a large number of securities at once. They often have cheaper fees than other types of funds. ETFs are also more easily traded. However, ETFs, like any other financial product, are not a one-size-fits-all solution. Advantages of Investing in ETFs:- Easy to trade: they can be bought and sold at any time of day. ETFs are more tax efficient than actively managed mutual funds because they generate less capital gain distributions. They allow investors to avoid the risk of poor security selection by the fund manager while offering a diversified investment portfolio. The stocks in the indices are carefully selected by index providers and are rebalanced periodically. They offer anytime liquidity through the exchanges. Risks of ETFs:- Trading cost: If you invest modest sums frequently, dealing directly with a fund company in a no-load fund may be less expensive. Market risk: ETFs are subject to the same market fluctuations and volatility. Liquidity risk: ETFs may experience low trading volume or wide bid-ask spreads, which can affect their liquidity and price. Regulatory risk: ETFs are subject to changing laws and regulations that may affect their structure, operation, or taxation. About Employees’ Provident Fund Organisation (EPFO):- The EPFO is under the administrative control of the Ministry of Labour and Employment, Government of India. It is one of the World’s largest Social Security Organisations in terms of clientele and the volume of financial transactions undertaken. It into existence with the promulgation of the Employees’ Provident Funds Ordinance on the 15th of November 1951. It was replaced by the Employees’ Provident Funds Act, of 1952. The Employees’ Provident Funds Bill was introduced in the Parliament in the year 1952 as a Bill to provide for the institution of provident funds for employees in factories and other establishments. (EPFO’s New Facility on UMANG App started) The Act is now referred to as the Employees’ Provident Funds & Miscellaneous Provisions Act, 1952 which extends
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