International Solar Alliance (ISA)

Why in news?

Recently, Spain became the 99th member of the International Solar Alliance (ISA).

About the ISA

• The ISA was conceived as a joint effort by India and France to mobilize efforts against climate change through deployment of solar energy solutions.
• It was conceptualized on the sidelines of the 21st Conference of Parties (COP21) to the United Nations Framework Convention on Climate Change (UNFCCC) held in Paris in 2015.
• The International Solar Alliance (ISA) is an action-oriented, member-driven, collaborative platform for increased deployment of solar energy technologies as a means for bringing energy access, ensuring energy security, and driving energy transition in its member countries.

• The ISA strives to develop and deploy cost-effective and transformational energy solutions powered by the sun to help member countries develop low-carbon growth trajectories.
• The ISA is guided by its ‘Towards 1000’ strategy which aims to mobilise USD 1,000 billion of investments in solar energy solutions by 2030, while delivering energy access to 1,000 million people using clean energy solutions and resulting in installation of 1,000 GW of solar energy capacity.
• At present, 119 countries are signatories to the ISA Framework Agreement, of which 99 countries have submitted the necessary instruments of ratification to become full members of the ISA.

• The UN General Assembly has an Observer Status in the ISA.

• The Assembly of the ISA is the apex decision-making body which comprises of representatives from each Member Country. 

• Assembly deliberates matters of substance such as the selection of the Director General, achievement of ISA objectives, its functioning, approval of operating budget and more.

• The alliance would endorse India in achieving its goal of generating 100 GW of solar energy and 175 GW of renewable energy by 2022. 
• The countries would support each other in research and development as well as other high level activities.

RBI’s transfer Surplus to GOI

Why in news?

Recently, the Reserve Bank of India (RBI) approved a surplus transfer of Rs 2.11 lakh crore to the government for FY24. 

More about the news

• The central bank said surplus transfer to government for financial year 2023-24 is based on the Economic Capital Framework (ECF) adopted by the RBI on August 26, 2019 as per recommendations of the Bimal Jalan committee. 
• The surplus distribution policy of the Reserve Bank of India (RBI) is determined in accordance with Section 47 of the RBI Act, 1934.

• Section 47 says that “after making provision for bad and doubtful debts, depreciation in assets, contributions to staff and superannuation funds and for all other matters for which provision is to be made by or under this Act or which are usually provided for by bankers, the balance of the profits shall be paid to the central government”.

• The announcement came along with an increase in the Contingent Risk Buffer (CRB) to 6.50 percent for fiscal year 2023-24.

• The contingency risk buffer is a specific provision fund kept by the central bank primarily to be used during any unexpected and unforeseen circumstances. 

• The Committee had recommended that the risk provisioning under the Contingent Risk Buffer (CRB) be maintained within a range of 6.5 to 5.5 per cent of the RBI’s balance sheet.

How does the RBI earn profit?

• Interest Payment: The Reserve Bank of India (RBI) extends loans and advances to commercial banks and other financial institutions. These loans are accompanied by an interest rate, which generates interest revenue for the RBI.
• Forex Reserves: In its forex operations, RBI sells dollars it purchased during times of surplus when there is a scarcity, making a substantial profit as these sales are at prevailing market prices.
• Printing Money: RBI earns significant money from seigniorage or printing money.
• Open Market Operations: RBI purchases or sells bonds in the open market in order to regulate money supply in the economy, are a major source of income for the RBI.

BRSR Framework

Why in news?

Recently, the SEBI released a consultation paper on recommendations made by the Expert Committee for Facilitating Ease of Doing Business with respect to Business Responsibility and Sustainability Report (BRSR).

More about the news

• It was proposed by S.K. Mohanty committee to facilitate Ease of Doing Business in BRSR framework.
• It aims to streamline the reporting process, reduce compliance burdens, and align the framework with contemporary environmental, social, and governance (ESG) standards.
• The BRSR framework is an essential reporting mechanism for the top 1000 listed companies in India, requiring them to disclose their ESG performance in a standardised format. 
• This framework, based on the principles outlined in the National Guidelines on Responsible Business Conduct (NGRBC).
• It ensures that companies adhere to ethical, transparent, and accountable practices while promoting sustainability and social responsibility.
• The proposed changes to the BRSR framework cover several areas, including the redefinition of value chain partners, extended implementation timelines, integration of the Green Credit Programme, and the introduction of flexibility in core reporting.

About NGRBC

• The National Guidelines on Responsible Business Conduct (NGRBC) was formulated by the Ministry of Corporate Affairs in 2019. It outlines nine principles that businesses should follow. 
• These principles form the foundation of the BRSR framework and guide companies in conducting their operations responsibly and sustainably. 
• The principles are:

• Ethical, transparent, and accountable conduct of businesses
• Sustainable and safe provision of goods and services
• Promotion of respect and well-being of all employees
• Respect the interests of all stakeholders
• Respect and promote human rights
• Protect and restore the environment
• Responsible and transparent engagement in influencing public and regulatory policy
• Promote inclusive growth and equitable development
• Provide value to consumers

Inverted Duty Structure (IDS)

Why in news?

Recently, the Commerce and Industry Ministry has shared a list of products with the Finance Ministry to look at the inverted duty structure issues.

More about the news

• Inverted duty structure refers to taxation on inputs at higher rates than finished products that result in the build-up of credits and cascading costs.
• Inverted duty structure impacts the domestic industry, as manufacturers have to pay a higher price for raw materials in terms of duty, while the finished products land at lower duty and cost.
• The list includes products such as paper, furniture, washing machines, solar glass, air purifiers, and some cases in apparel and jewellery also.
• Expensive inputs make products costly and cannot compete in the export market. In the domestic market, such products are prone to cheaper imports.
• Addressing this duty issue would help the competitiveness of domestic exporters and that, in turn, will help increase shipments and promote manufacturing.

Oil Spills

Why in news?

Recently, The Southern Bench of the National Green Tribunal has directed Chennai Petroleum Corporation Limited (CPCL) to pay ₹5 crore as compensation for the oil spill off the Nagapattinam coast.

About Oil Spills

• An oil spill is the release of a liquid petroleum hydrocarbon into the environment, especially marine areas, due to human activity.
• The term is usually applied to marine oil spills, where oil is released into the ocean or coastal waters, but spills may also occur on land.
• A form of pollution, oil spills may be caused by releases of crude oil from tankers, offshore platforms, drilling rigs or wells. 
• Spilled substances may be refined petroleum products, such as gasoline and diesel fuel, as well as their by-products — heavier fuels used by large ships such as bunker fuel or oily refuse of any kind.

Impact of Oil Spills

• Biodiversity loss: Habitat losses may alter migration patterns and disrupt life cycles of animals. Oil spills frequently kill marine mammals such as whales, dolphins, seals, and sea otters.
• Habitat Loss: Long-term damage to species and their habitats and nesting or breeding grounds is one of the most far-reaching environmental effects caused by oil spills.
• Pollution: Spilt oil can pollute streams, rivers and, if it soaks through the soil and rock, it could contaminate the groundwater.
• Local Economy: Oil spills can result in closures of beaches, parks, waterways, and recreational and commercial fisheries. There may also be restrictions on hunting and boating.
• Human Health: Petroleum products, including benzene, polyaromatic hydrocarbons, polycyclic aromatic hydrocarbons, and toluene, contain toxic chemicals common in spills that can affect marine life and humans as well.

Solution

• Oil booms: it is the most common and popular equipment used in oil clean-up due to their simpler design and easier execution. These are also known as containment booms that enclose the oil to a smaller area and prevents it from spreading further.
• Skimmers: Once the oil is bounded by oil booms, it can be extracted or skimmed easily with the help of skimmers or oil scoops. These skimmers are fitted onto boats to remove the floating oil or greasy contaminants.
• Sorbents: Materials that can adsorb or absorb liquids are termed as sorbents. The use of sorbents is a natural process of oil clean-up. The most common types of sorbents are peat moss, vermiculite (straw), and hay.
• Dispersants: When oil cannot be confined to booms, the last option that remains is oil disintegration. Dispersals are chemicals spread over the spilled oil to initiate the disintegration of oil. After disintegration, the surface area of oil molecules increases and it becomes easier for them to form a bond with water.

Coastal Regulation Zone 

Why in news?

Recently, The Southern Bench of the NGT has ordered a cessation of the project activities in the CRZ II zone.

More about the news

• The NGT has ordered the Chennai Metropolitan Development Authority (CMDA) to get approval from the Tamil Nadu State Coastal Zone Management Authority to carry out activities in the CRZ II zone.
• As part of its Chennai Shoreline Renourishment and Revitalization Project, the CMDA had planned for ‘integrated coastal community development’ involving facilities such as a cycle track, food court, landscape, open air theatre, open parking and pedestrian walkway in Coastal Regulation Zone (CRZ) II areas. 

About Coastal Regulation Zone

• These rules were issued in 1991, under the Environment Protection Act, 1986 by the Ministry of Environment and Forests.
• As per the notification, the coastal land up to 500m from the High Tide Line (HTL) and a stage of 100m along banks of creeks, estuaries, backwater and rivers subject to tidal fluctuations, is called the Coastal Regulation Zone (CRZ).
• The Coastal Regulation Zones (CRZ) are the areas that potentially impact the natural, financial, and social ecosystem of the Indian coastline.
• Rules under CRZ are designed to strike a balance between urban development, native lifestyle and environment.
• The Coastal regulation zone notification 2019 was issued to replace the 2011 notification. The 2019 notification divided CRZ-III areas (rural areas) into two categories namely CRZ-IIIA and CRZ-IIIB.
• As per the notification, coastal areas are of four categories as CRZ-1, CRZ-2, CRZ-3 and CRZ-4.

Himalayan Ibex

Why in news?

Recently, the wildlife authorities in Himachal Pradesh have started surveys as part of census to estimate the population of the Himalayan ibex.

About Himalayan Ibex

• The Himalayan Ibex (Capra sibirica hemalayanus) is a species of wild goat found in the trans-himalayan regions of Jammu and Kashmir and Ladakh.

• Ibex are mountain goats that can be found in Europe, North Central Asia, and Northern Africa. According to the Integrated Taxonomic Information System, there are five species of ibex.

• They can be found in Pakistan and India’s western Himalayas, mainly at heights of 3800 meters and above. 
• They can be identified from their horns having notches on the front and getting bigger every year. In the winter, their coat is thick and woolly, and in the early summer, it is shed. 
• With a darker dorsal stripe, the color ranges from pale brown to dark brown. 
• They are frequently found in tiny herds of up to 50 individuals.
• In the winter, when the mountains are covered in snow, they descend to lower elevations in search of food. As the snow melts in the summer, they move upwards again.
• The Himalayan Ibex is classified as ‘least concerned’ by the International Union for Conservation of Nature (IUCN).

Shallow Aquifer Management (SAM)

Why in news?

The Greater Hyderabad Municipal Corporation (GHMC) in a latest intervention has taken up Shallow Aquifer Management (SAM) model on a pilot basis in the city.

About 

• The aim is to tap SAM as a sustainable urban water management technique, while addressing persistent issues of groundwater depletion, drying up of borewells, and check quick flooding of city streets.
• SAM is a part of Atal Mission for Rejuvenation and Urban Transformation (AMRUT) scheme of the Ministry of Housing and Urban Affairs.
• On a pilot basis, the National Institute of Urban Affairs, the nodal implementation agency, will oversee works.
• The project’s concept is to drill shallow water injection borewells to a depth of 100-120 feet and pump out water in the shallow aquifers. 
• This is done so that the layers underneath get recharged whenever there is rainfall, while collecting water from the surrounding watershed and channeling it through recharge pits. Thus, the underground layers are recharged, and the water table rises.

Zero Debris Charter 

Why in news?

Recently, the European Space Agency (ESA) along with twelve countries signed the Zero Debris Charter.

More about the news

• The Zero Debris Charter is a world-leading effort to become debris neutral in space by 2030 that was unveiled at the ESA Space Summit in Seville meeting in November 2023.

• Space debris refers to fragments left behind in space. Most space junk is debris from rocket-launching material and disused satellites.

• The Zero Debris Charter is a broader community-driven and community-building initiative for the global space community. 
• It is facilitated by ESA’s ‘Protection of Space Assets’ Accelerator and collaboratively developed by more than 40 space actors.
• The charter is a non-legally binding agreement, but it fosters a community of proactive actors working collectively towards jointly defined targets for 2030.
• The Charter contains both high-level guiding principles and ambitious, jointly defined targets to enable the space community to achieve the goal of Zero Debris.
• The charter sets out a number of targets, including that a mission’s probability of generating space debris should remain below 1 in 1,000 per object.
• It also sets a target of 99% success for post-mission disposal, including through external means when necessary. It encourages transparent information sharing and space traffic coordination.
• The Zero Debris Charter signals Europe’s unwavering commitment to be a global leader on space debris mitigation and remediation, fostering collective action of a large community of space actors from all around the world.

Graphite

Why in news?

Recently, India has initiated discussions with Sri Lanka to acquire graphite mines in the island nation.

More about the news

• The discussions are part of the broader push for securing critical mineral supplies. 
• Sri Lanka has a long history of mining and exporting graphite, achieving annual exports of 35,000 metric tonnes. Sri Lanka’s vein graphite is notable for its exceptional purity, flawless crystal structure, and high electrical conductivity, making it ideal for various commercial applications.

About Graphite

• Graphite, also known as plumbago, blacklead, or mineral carbon, is a naturally occurring, stable form of carbon.
• This soft, lustrous mineral is used in lubricants, refractories, brake linings, pencils, and electrodes.
• The demand for high-purity graphite is increasing steadily as it is the primary material for anodes in lithium-ion and other batteries.
• In fact, graphite typically constitutes the largest component by weight in lithium-ion batteries, with up to 70 kilograms used in an average electric vehicle (EV).
• Recognising its crucial role in the clean technology supply chain, graphite has been included in the government’s list of 30 critical minerals. 

Heat Index

Why in news?

The heat index in Delhi remained above a searing 50°C as high humidity persisted due to ongoing effects of easterlies.

About the Index

• The heat index, also known as the apparent temperature, is what the temperature feels like to the human body when relative humidity is combined with the air temperature. 
• It has been launched by India Meteorological Department (IMD) on an experimental basis. 
• There is a direct relationship between the air temperature and relative humidity and the heat index, meaning as the air temperature and relative humidity increase (decrease), the heat index increases (decreases).
• This has important considerations for the human body’s comfort.

Mrugavani National Park

Why in news?

Recently, the Telangana Forest Department has informed the NGT that the area of Mrugavani National Park has been reduced by 80 hectares on paper.

About the park 

• Mrugavani National Park is located in Hyderabad, Telangana, covering an area of approximately 3.6 square kilometres.
• Despite its modest size, the park plays a significant role in preserving the biodiversity of the region. 
• It provides a crucial habitat for various species of plants and animals, acting as a natural refuge in an otherwise urban environment.
• This park is characterised by its tropical waterless deciduous forest, is home to a variety of flora and fauna.
• The park’s flora includes a mix of tree species such as teak, bamboo, sandalwood, picus (fig trees), palas (flame of the forest), and rela. These species are adapted to the dry conditions and contribute to the ecological balance of the park.
• It houses Spotted deer, Indian hare, forest cat, civet, Indian rat snake, Russell’s viper, Cheetal and the flowerpecker.