3rd May 2022

 

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1.RAMSAR Convention on Wetlands

Brief Intro–

• The Convention was adopted in the Iranian city of Ramsar in 1971 and came into force in 1975 after UNESCO, the Convention’s depositary received the instruments of accession from the countries.
• The RAMSAR Secretariat is based at the headquarters of the International Union for the Conservation of Nature (IUCN) in Gland, Switzerland.
• World Wetlands Day is celebrated on February 2nd.

Key Objectives-

• An intergovernmental treaty that provides the framework for national action and international cooperation for the conservation and wise use of wetlands and their resources.

Year-1971

Place – Ramasar

Key Terms-The Montreux Record – a register of wetland sites on the List of Wetlands of International Importance where changes in ecological character are of concern. It is maintained as part of the Ramsar List.

India specific – India currently has 27 sites designated as Wetlands of International Importance (Ramsar Sites).

2.The World Heritage Convention

Brief Intro–

The Convention recognizes the way in which people interact with nature, and the fundamental need to preserve the balance between the two.

Key Objectives-

The Convention defines the kind of natural or cultural sites which can be considered for inscription on the World Heritage List under UNESCO

Year-1972

3.Stockholm Conference

Brief Intro–

Stockholm Declaration contains 26 principles. These principles provide the basis of an International Policy for the Protection and improvement of the environment.

Key Point-The United Nations Environment Programme (UNEP) has been established by the UNGA in pursuance of the Stockholm Conference.

Year-1972

4.CITES

Brief Intro–

To ensure that international trade in specimens of wild animals and plants does not threaten the survival of the species in the wild, and it accords varying degrees of protection to more than 35,000 species of animals and plants.

Key Objectives-

• It is a multilateral treaty drafted as a result of a resolution adopted in 1963 at a meeting of members of the International Union for Conservation of Nature (IUCN).
• Although CITES is legally binding on the Parties – in other words they have to implement the Convention – it does not take the place of national laws.

India Specific –

The Government of India signed the Convention in July 1976, which was ratified in October 1976

5.Convention on Supplementary Compensation for Nuclear Damage (CSC)

Brief Intro–

Seeks to establish a uniform global legal regime for compensation to victims in the unlikely event of a nuclear accident. It was adopted on 12 September 1997. It can enter into force after ratification by at least 5 countries having a minimum of 400,000 units of installed nuclear capacity.

Key Objectives-

• It provides a uniform framework for channelling liability and providing speedy compensation after the nuclear accident.
• Seeks to encourage regional and global co-operation to promote a higher level of nuclear safety in accordance with the principles of international partnership and solidarity.
• All states are free to participate in it regardless of their presence of nuclear installations on their territories or involvement in existing nuclear liability conventions.
• It has been framed inconsistent with the principles of the Vienna Convention on Civil Liability for Nuclear Damage (1963) and the Paris Convention on Third Party Liability in the Field of Nuclear Energy (1960).

India Specific –

India has ratified Convention on Supplementary Compensation for Nuclear Damage (CSC), 1997 which sets parameters on a nuclear operator’s financial liability.

6.Nuclear security summit

Brief Intro–

The Nuclear Security Summit (NSS) is a world summit, aimed at preventing nuclear terrorism around the globe. The first summit was held in Washington, D.C., United States, on April 12–13, 2010. The second summit was held in Seoul, South Korea, in 2012. The third summit was held in The Hague, Netherlands, on March 24–25, 2014. The fourth summit was held in Washington, D.C. on March 31–April 1, 2016.

Key Objectives-

Aimed at preventing nuclear terrorism around the globe.

India specific-

Prime Minister Narendra Modi attended the NSS 2016 in Washington

7.Ashgabat Agreement

Brief Intro–

Ashgabat Agreement is an international transport and transit corridor facilitating transportation of goods between Central Asia and the Persian Gulf.

Key Objectives-

• The transit agreement provides for a transit corridor across Central Asia and the Middle East through the continuous landmass between Kazakhstan, Uzbekistan, Turkmenistan and Iran before reaching the Persian Gulf and into Oman.
• The objective of this agreement is to enhance connectivity within Eurasian region and synchronize it with other transport corridors within that region including the International North–South Transport Corridor (INSTC).

8.The Conference on Interaction and Confidence-Building Measures in Asia (CICA)

Brief Intro–

The Conference on Interaction and Confidence-Building Measures in Asia (CICA) is an inter-governmental forum for enhancing cooperation towards promoting peace, security and stability in Asia.

Key Objectives-

It is a forum based on the recognition that there is close link between peace, security and stability in Asia and in the rest of the world.enhancing cooperation towards promoting peace, security and stability in Asia.

India Specific-

India is a member of CICA

9.Beijing declaration

Brief Intro–

The Beijing Declaration and Platform for Action (BPfA) is an international declaration of women’s rights set up at the UN’s landmark Fourth World Conference on Women, held in Beijing in 1995.

Key Objectives-

• The BPfA covers 12 key critical matters of concern and areas for action including women and poverty, violence against women and access to power and decision- making.
• It was supported by 189 countries, including the UK, at the 1995 World Conference.gender equality and the empowerment of all women, everywhere.1995.
• It was the outcome of The Fourth World Conference on Women: Action for Equality, Development and Peace convened by UN.

12.The World Health Organization Framework Convention on Tobacco Control (WHO FCTC)

Brief Intro–

The World Health Organization Framework Convention on Tobacco Control (WHO FCTC) is a treaty adopted by the 56th World Health Assembly held in Geneva,Switzerland on 21 May 2003.

Key Objectives-

• It became the first World Health Organization treaty adopted under article 19 of the WHO constitution.To protect present and future generations from the devastating health, social, environmental and economic consequences of tobacco consumption and exposure to tobacco smoke” by enacting a set of universal standards stating the dangers of tobacco and limiting its use in all forms worldwide.
• The FCTC established two principal bodies to oversee the functioning of the treaty: the Conference of the parties and the permanent Secretariat. In addition, there are over 50 different intergovernmental and nongovernmental organizations who are official observers to the Conference of the Parties.

India Specific-

India has hosted 7th Framework Convention on Tobacco Control (WHO FCTC).

10.G-7

Brief Intro–

• The Group of Seven (G7) is an informal bloc of industrialized democracies—Canada, France, Germany, Italy, Japan, the United Kingdom, and the United States—that meets annually to discuss issues such as global economic governance, international security, and energy policy.
• Russia belonged to the forum from 1998 through 2014—then the Group of Eight (G8)—but was suspended after its annexation of Crimea in March of that year.

11.G-20

Brief Intro– It was started in 1999 as a meeting of Finance Ministers and Central Bank Governors in the aftermath of the Southeast Asian (Tiger economies) financial crisis.

Key Objectives-

• The Group of Twenty (G20) is the premier forum for its members’ international economic cooperation and decision-making.
• It is deliberating forum for the governments and central bank governors from 20 major economies on economic issues and other important development challenges.
• In 2008, the first G20 Leaders’ Summit was held in Washington DC, US. The group had played a key role in responding to the global financial crisis. It comprises total 19 countries plus the European Union (EU), representing 85% of global GDP, 80% of international trade, 65% of world’s population. Its members include Australia, Argentina, Brazil, Canada, China, India, France, Germany, Indonesia, Italy, Japan, South Korea, Mexico, Saudi Arabia, Russia, Turkey, South Africa, UK, US and EU. 4.The 2016 summit was held in Hangzhou China.
• It was established for studying, reviewing, and promoting high-level discussion of policy issues pertaining to the promotion of international financial stability.

India Specific-

India is a founding member of G-20

12.International Treaty on Plant Genetic Resources for Food and Agriculture

Brief Intro–

It is a comprehensive international agreement in harmony with the Convention on Biological Diversity, which aims at guaranteeing food security through the conservation, exchange and sustainable use of the world’s plant genetic resources for food and agriculture (PGRFA), as well as the fair and equitable benefit sharing arising from its use.

Key Objectives-

• It also recognises Farmers’ Rights, subject to national laws the protection of traditional knowledge relevant to plant genetic resources for food and agriculture.
• The right to equitably participate in sharing benefits arising from the utilisation of plant genetic resources for food and agriculture;
• The right to participate in making decisions, at the national level, on matters related to the conservation and sustainable use of plant genetic resources for food and agriculture.
• It is a comprehensive international agreement in harmony with the Convention on Biological Diversity.

India Specific-

India has signed the International Treaty on Plant Genetic Resources for Food and Agriculture.

13.Marrakesh treaty

Brief Intro–

• The treaty requires signatories to introduce national law provisions that facilitate the availability of published works in formats like Braille that are accessible to the blind and allow their exchange across borders by organizations working for the visually impaired.

Key Objectives-

• The pact will help import of accessible format copies from the member countries by the Indian authorized entities such as educational institutions, libraries and other institutions working for the welfare of the visually impaired.
• The treaty will also ease translation of imported accessible format copies and export of accessible format copies in Indian languages.To create a set of mandatory limitations and exceptions for the benefit of the blind, visually impaired and otherwise print disabled (VIPs).

14.London Declaration

Brief Intro–

• The London Declaration on Neglected Tropical Diseases is a collaborative disease eradication programme launched on 30 January 2012 in London.
• It was inspired by the World Health Organization 2020 roadmap to eradicate or negate transmission for neglected tropical diseases.
• Officials from WHO, the World Bank, the Bill & Melinda Gates Foundation, the world’s 13 leading pharmaceutical companies, and government representatives from US, UK, United Arab Emirate, Bangladesh, Brazil, Mozambique and Tanzania participated in a joint meeting at the Royal College of Physicians to launch this project.

15.Declaration of Montreal

Brief Intro–

The Declaration of Montreal on Lesbian, Gay, Bisexual, and Transgender Human Rights is a document adopted in Montreal, Quebec, Canada, on July 29, 2006, by the International Conference on LGBT Human Rights which formed part of the first World Outgames.

Key Objectives-

• The Declaration outlines a number of rights and freedoms pertaining to LGBT and intersex people that it is proposed to be universally guaranteed.
• It encompasses all aspects of human rights, from the guarantee of fundamental freedoms to the prevention of discrimination against LGBT people in healthcare, education and immigration.
• The Declaration also addresses various issues that impinge on the global promotion of LGBT rights and intersex human rights.

16. Istanbul Convention

Brief Intro–

• The Istanbul Convention is the first legally-binding instrument which “creates a comprehensive legal framework and approach to combat violence against women” and is focussed on preventing domestic violence, protecting victims and prosecuting accused offenders. The convention aims at prevention of violence, victim protection and “to end with the impunity of perpetrators.
• The Council of Europe. Only European countries have signed this convention.

17.vienna convention on diplomatic relations

Brief Intro–

It is a treaty that came into force in 1964 2.It lays out the rules and regulations for diplomatic relations between countries as well as the various privileges that diplomats and diplomatic missions enjoy.

Key Objectives-

• One of these privileges is legal immunity for diplomats so that they don’t have to face prosecution as per their host country’s laws.
• The Vienna Convention classifies diplomats according to their posting in the embassy, consular or international organisations such as the UN. A nation has only one embassy per foreign country, usually in the capital, but may have multiple consulate offices, generally in locations where many of its citizens live or visit.
• Diplomats posted in an embassy get immunity, along with his or her family members. While diplomats posted in consulates too get immunity, they can be prosecuted in case of serious crimes, that is, when a warrant is issued.
• Besides, their families don’t share that immunity.It has been ratified by 187 countries, including India.

18.Jaipur Summit

Brief Intro–

• The Forum for India–Pacific Islands Cooperation (FIPIC) was launched during Hon’ble Prime Minister, Mr. Narendra Modi’s visit to Fiji in November 2014.
• FIPIC includes 14 of the island countries – Cook Islands, Fiji, Kiribati, Marshall Islands, Micronesia, Nauru, Niue, Palau, Papua New Guinea, Samoa, Solomon Islands, Tonga, Tuvalu, and Vanuatu.
• The second summit of the Forum for India Pacific Cooperation (FIPIC-2) in Jaipur on 21-22 August 2015 has made significant progress in strengthening India’s engagement with the 14 Pacific Island countries. Increase Cooperation Between India and 14 Pacific Countries.

Key Objectives-

• Though these countries are relatively small in land area and distant from India, many have large exclusive economic zones (EEZs), and offer promising possibilities for fruitful cooperation.
• India’s focus has largely been on the Indian Ocean where it has sought to play a major role and protect its strategic and commercial interests. The FIPIC initiative marks a serious effort to expand India’s engagement in the Pacific region.
• At this moment, total annual trade of about $300 million between the Indian and Pacific Island countries, where as exports are around $200 million and imports are around $100 million.

19.NPT

Brief Intro–

The NPT is a landmark international treaty whose objective is to prevent the spread of nuclear weapons and weapons technology, to promote cooperation in the peaceful uses of nuclear energy and to further the goal of achieving nuclear disarmament and general and complete disarmament.

Key Objectives-

• The Treaty represents the only binding commitment in a multilateral treaty to the goal of disarmament by the nuclear-weapon States. Opened for signature in 1968, the Treaty entered into force in 1970.
• To prevent the spread of nuclear weapons and weapons technology, to promote cooperation in the peaceful uses of nuclear energy, and to further the goal of achieving nuclear disarmament and general and complete disarmament.

India Specific-

India has not signed the treaty as India argues that the NPT creates a club of “nuclear haves” and a larger group of “nuclear have-nots” by restricting the legal possession of nuclear weapons to those states that tested them before 1967, but the treaty never explains on what ethical grounds such a distinction is valid.

20.CTBT

Brief Intro–

• The Comprehensive Nuclear-Test-Ban Treaty (CTBT) is a multilateral treaty that bans all nuclear explosions, for both civilian and military purposes, in all environments.
• It was adopted by the United Nations General Assembly on 10 September 1996 but has not entered into force as eight specific states have not ratified the treaty. Nuclear weapon-free
• The treaty thus awaits signature and ratification from India, Pakistan, and North Korea and in addition requires the United States, China, Israel, Iran and Egypt (which have already signed) to formally ratify it.

India Specific-

Even though it is yet to sign the CTBT, India has supported the treaty’s basic principle of banning nuclear explosions by declaring a unilateral moratorium on nuclear testing. India’s expressed support to the essential requirement of the treaty makes it a de facto member of the CTBT.

21.Convention on biological diversity

The Convention on Biological Diversity (CBD), a legally binding treaty to conserve biodiversity has been in force since 1993.

Objectives-

• It has 3 main objectives: The conservation of biological diversity.
• The sustainable use of the components of biological diversity.,fair and equitable sharing of the benefits arising from the use of genetic resources.
• The CBD, one of the key agreements adopted during the Earth Summit held in Rio de Janeiro in 1992, is the first comprehensive global agreement which addresses all aspects relating to biodiversity.

22.International Whaling Commission (IWC)

The IWC is an Inter-Governmental Organisation set up by the terms of the International Convention for the Regulation of Whaling (ICRW) signed in Washington, D.C in 1946. It aims to provide for the proper conservation of whale stocks and thus make possible the orderly development of the whaling industry. The body is the first piece of International Environmental Legislation established in 1946.

23.Global Digital Health Partnership Summit

The Global Digital Health Partnership (GDHP) is an international collaboration of governments, government agencies and multinational organisations dedicated to improving the health and well-being of their citizens through the best use of evidence-based digital technologies.

Objectives-

• Governments are making significant investments to harness the power of technology and foster innovation and public-private partnerships that support high quality, sustainable health and care for all. The GDHP facilitates global collaboration and co-operation in the implementation of digital health services.The GDHP is committed to improving health and care through promoting its principles of equality, co-operation, transparency and responsibility.
• Equality: All participants will have an equal opportunity to participate and contribute to the development of the GDHP deliverables and share in the lessons learnt and outputs of the GDHP.
• Co-operation: Participants are helpful and supportive and participate in debates thoughtfully, constructively and respectfully.
• Transparency: Participants act with openness in their engagement with fellow participants to contribute to improved health services, promote innovation and create safer and healthier communities.
• Responsibility: Participants are responsible for their country’s input through their active contribution to GDHP activities that are guided by the annual work plan. Each participant shall endeavour to ensure that outcomes from meetings, such as tasks appointed to them or in general, are carried out effectively and efficiently. Participants will make decisions and participate in discussions in a transparent and fair manner, using evidence, and without discrimination or bias, ensuring they act in the public interest and not for commercial purposes.

24.TIR

The Convention on International Transport of Goods Under Cover of TIR Carnets is a multilateral treaty that was concluded at Geneva on 14 November 1975 to simplify and harmonise the administrative formalities of international road transport.

Objectives-

• The TIR Convention establishes an international customs transit system with maximum facility to move goods:in sealed vehicles or containers;
• from a customs office of departure in one country to a customs office of destination in another country;
• without requiring extensive and time-consuming border checks at intermediate borders;
• while, at the same time, providing customs authorities with the required security and guarantees.

25. 1 Trillion Trees Initiative

It aims to ensure the conservation and restoration of one trillion trees within this decade. Initiative is led by UNEP and initiated by WEF.

Objectives-

• The Sendai Framework for Disaster Risk Reduction (SFDRR), 2015-2030, which is the first major agreement of the post-2015 development agenda, identifies investing in Disaster Risk Reduction (DRR) for resilience and to build back better in reconstruction as priorities for action towards reducing disaster risk.
• Similarly, Goal 9 of the Sustainable Development Goals (SDGs) recognizes disaster resilient infrastructure as a crucial driver of economic growth and development.
• Besides reducing infrastructure losses, disaster resilient infrastructure will also help achieve targets pertaining to reduction in mortality, number of affected people and economic losses due to disasters.

26.International Chemical Weapons Convention (CWC)

The Chemical Weapons Convention is an arms control treaty that outlaws the production, stockpiling, and use of chemical weapons and their precursors.

Key points of the Convention

Objectives-

• Prohibition of production and use of chemical weapons
• Destruction (or monitored conversion to other functions) of chemical weapons production facilities
• Destruction of all chemical weapons (including chemical weapons abandoned outside the state parties territory)
• Assistance between State Parties and the OPCW in the case of use of chemical weapons
• An OPCW inspection regime for the production of chemicals which might be converted to chemical weapons
• International cooperation in the peaceful use of chemistry in relevant areas

27.Convention on Supplementary Compensation for nuclear Damage (CSC)

The Vienna Convention on Civil Liability for Nuclear Damage is a 1963 treaty that governs issues of liability in cases of a nuclear accident. It was concluded at Vienna on 21 May 1963 and entered into force on 12 November 1977. The convention has been amended by a 1997 protocol. The depository is the International Atomic Energy Agency.

Objectives-

• The Convention on Supplementary Compensation (CSC) aims at establishing a minimum national compensation amount and at further increasing the amount of compensation through public funds to be made available by the Contracting Parties should the national amount be insufficient to compensate the damage caused by a nuclear incident.
• The Convention is open not only to States that are party to either the Vienna Convention on Civil Liability for Nuclear Damage or the Paris Convention on Third Party Liability in the Field of Nuclear Energy (including any amendments to either) but also to other States provided that their national legislation is consistent with uniform rules on civil liability laid down in the Annex to the Convention.

28.Hague Code of Conduct

The International Code of Conduct against Ballistic Missile Proliferation, also known as the Hague Code of Conduct (HCOC), was established on 25 November 2002 as an arrangement to prevent the proliferation of ballistic missiles.

Objectives-

• The HCOC is the result of international efforts to regulate access to ballistic missiles which can potentially deliver weapons of mass destruction. The HCOC is the only multilateral code in the area of disarmament which has been adopted over the last years.
• It is the only normative instrument to verify the spread of ballistic missiles.
• The HCOC does not ban ballistic missiles, but it does call for restraint in their production, testing, and export.

29. Tropical Forest Alliance

Global PPP launched at Rio+20 summit. It aims halving deforestation by 2020 and ending it by 2030 in tropical rainforest countries. The secretariat of the Alliance is hosted by the World Economic Forum.

30.Biological weapons convention

The Convention on the Prohibition of the Development, Production and Stockpiling of Bacteriological and Toxin Weapons and on Their Destruction was the first multilateral disarmament treaty banning the production of an entire category of weapons.

Objectives-

• Each State Party to this Convention undertakes never in any circumstances to develop, produce, stockpile or otherwise acquire or retain:
• Microbial or other biological agents, or toxins whatever their origin or method of production, of types and in quantities that have no justification for prophylactic, protective or other peaceful purposes;
• Weapons, equipment or means of delivery designed to use such agents or toxins for hostile purposes or in armed conflict.”
• The United States Congress passed the Bioweapons Anti-Terrorism Act in 1989 to implement the Convention. The law applies the Convention’s convent to countries and private citizens, and criminalizes violations of the Convention.

31.Sendai Framework

The Sendai Framework for Disaster Risk Reduction (2015-2030) is an international document which was adopted by UN member states between 14th and 18th of March 2015 at the World Conference on Disaster Risk Reduction held in Sendai, Japan and endorsed by the UN General Assembly in June 2015. It is the successor agreement to the Hyogo Framework for Action (2005–2015), which had been the most encompassing international accord to date on disaster risk reduction.

Objectives-

• The Sendai Framework sets four specific priorities for action:
• Understanding disaster risk;
• Strengthening disaster risk governance to manage disaster risk;
• Investing in disaster risk reduction for resilience;
• Enhancing disaster preparedness for effective response, and to “Build Back Better” in recovery, rehabilitation and reconstruction.

32.Outer Space Treaty

The Outer Space Treaty, formally the Treaty on Principles Governing the Activities of States in the Exploration and Use of Outer Space, including the Moon and Other Celestial Bodies, is a treaty that forms the basis of international space law. The 1967 Outer Space Treaty bans the stationing of weapons of mass destruction (WMD) in outer space, prohibits military activities on celestial bodies, and details legally binding rules governing the peaceful exploration and use of space.

33.Kyoto Protocol

The Kyoto Protocol is an international treaty which extends the 1992 UNFCCC that commits State Parties to reduce greenhouse gas emissions, based on the premise that

(a) global warming exists and (b) human-made CO2 emissions have caused it.

Objectives-

• The main feature of the Protocol is that it established legally binding commitments to reduce emissions of greenhouse gases for parties that ratified the Protocol.
• The commitments were based on the Berlin Mandate, which was a part of UNFCCC negotiations leading up to the Protocol.
• Minimizing Impacts on Developing Countries by establishing an adaptation fund for climate change.

34.U.N. Frame Work Convention on Climate Change (UNFCCC)

Objectives-

• A framework for international cooperation to combat climate change by limiting average global temperature increases and the resulting climate change, and coping with impacts that were inevitable.
• The primary goals of the UNFCCC were to stabilize greenhouse gas emissions at levels that would prevent dangerous anthropogenic interference with the global climate.
• The convention embraced the principle of common but differentiated responsibilities which has guided the adoption of a regulatory structure.

35.Basel Convention

• The industrialized world in the 1980s had led to increasing public resistance to the disposal of hazardous wastes, in accordance with what became known as the NIMBY (Not in My Back Yard) syndrome, and to an increase of disposal costs.
• This, in turn, led some operators to seek cheap disposal options for hazardous wastes in the developing countries.
• Environmental awareness was much less developed and regulations and enforcement mechanisms were lacking. The objectives of the convention are to reduce trans-boundary movements of hazardous wastes, to minimize the creation of such wastes and to prohibit their shipment from developed countries to the LDCs.

36.Montreal Protocol

Objectives-

• The protocol set targets for reducing the consumption and production of a range of ozone-depleting substances.
• In a major innovation, the protocol recognized that all nations should not be treated equally.
• The agreement acknowledges that certain countries have contributed to ozone depletion more than others.
• It also recognizes that a nation‘s obligation to reduce current emissions should reflect its technological and financial ability to do so.
• Because of this, the agreement sets more stringent standards and accelerated phase-out time tables to countries that have contributed most to ozone depletion

37.World Conservation Strategy

Objectives-

• It set out fundamental principles and objectives for conservation worldwide and identified priorities for national and international action.
• It is considered one of the most influential documents in 20th-century nature conservation and one of the first official documents to introduce the concept of sustainable development.

38.Convention on Migratory Species of Wild Animals (Bonn Convention)

Objectives-

• Aims to conserve terrestrial, marine and avian migratory species throughout their range.
• The Convention facilitates the adoption of strict protection measures for endangered migratory species, the conclusion of multilateral agreements for the conservation and management of migratory species, and co-operative research activities.

39.World Sustainable Development summit

• WSDS has replaced TERI’s earlier called Delhi Sustainable Development Summit (DSDS). The first DSDS was organised in 2005. It underscored the need for businesses and the private sector to take lead in poverty reduction and to ensure rapid and sustained adoption of Sustainable Development Goals (SDGs).
• It had brought together Nobel laureates, decision-makers political leaders from around the world to deliberate on issues related to sustainable development.
• The aim of the summit is to provide various stakeholders with a single platform in order to provide long-term solutions for the benefit of the global community.

40.Kigali Agreement

The Kigali Amendment amends the 1987 Montreal Protocol to now include gases responsible for global warming and will be binding on countries from 2019.

Objectives-

• It also has provisions for penalties for non-compliance.
• It is considered absolutely vital for reaching the Paris Agreement target of keeping global temperature rise to below 2-degree Celsius compared to pre-industrial times.
• Under it, developed countries will also provide enhanced funding support estimated at billions of dollars globally. The exact amount of additional funding from developed countries will be agreed at the next
• Meeting of the Parties in Montreal in 2017 to reduce the emissions of category of greenhouse gases (GHGs) which leads to hydro fluorocarbons (HFCs)

41. Glassgow Summit

The Glasgow meeting was the 26th session of the Conference of Parties to the UN Framework Convention on Climate Change, or COP26.

Achievements:

1. Mitigation: The Glasgow agreement has emphasised that stronger action in the current decade was most critical to achieving the 1.5-degree target.
2. Adaptation: Most of the countries, especially the smaller and poorer ones, and the small island states have been demanded that at least half of all climate finance should be directed towards adaptation efforts.
3. Finance: In 2009, developed countries had promised to mobilise at least $100 billion every year from 2020, which did not happen. The developed nations have now said that they will arrange this amount by 2023.
4. Accounting earlier mistakes: Asked the developed countries to provide transparent information about the money they plan to provide
5. Loss & Damage: The frequency of climate disasters has been rising rapidly, and many of these caused large scale devastation. One of the earlier drafts included a provision for setting up of a facility to coordinate loss and damage activities.
6. Carbon markets: This meeting has allowed carbon credits to be used in meeting countries’ first NDC targets to the developing nations.

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Important Financial Institutions

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28 Apr 2022

Development Finance Institutions

The Need of DFIs

Classification of DFIs

All India DFIs	Special DFIs	Investment Institutions	Refinance Institutions	State Level DFIs
Industrial Finance Corporation of India Industrial Development Bank of India Small Industries Development Bank of India (SIDBI) ICICI ICICI ceased to be a DFI and converted into a Bank on 30 March 2002. IDBI was converted into a Bank on 11 October 2004.	EXIM Bank IFCI Venture Capitalist Fund Tourism Finance Corporation of India. IDFC.	LIC Union Trust of India. General Insurance Corporation.	National Housing Board. NABARD.	State Financial Corporation. State Industrial Development Corporations.

All India Development Finance Institutions

IFCI	ICICI	IDBI	SIDBI
IFCI was the first DFI to be setup in 1948.	It was setup in January 1995.	The IDBI was initially set up as a Subsidiary of the RBI. In February 1976, IDBI was made fully autonomous.	SIDBI was setup as a subsidiary of IDBI in 1989.
With Effect from 1 July 1993, IFCI has been converted into Public Limited Company.	With effect from April 2002, ICICI has been converted into a Bank.	The IDBI was designated as apex organisation in the field of Development Financing. However, it was converted in a bank wef Oct 2004.	The SIDBI was designated as apex organisation in the field of Small Scale Finance.The Union Budget of 1998-99 proposed the delinking of SIDBI from IDBI.
The key function of IFCI was; granting long-term loans(25 years and above); Guaranteeing rupee loans floated in open markets by industries; Underwriting of shares and debentures; Providing guarantees for industries.	The key functions of ICICI were; to provide long term or medium term loans or equity participation; Guaranteeing loans from other private sources; providing consultancy services to industry.	The key functions of IDBI were; it provides refinance against loans granted to industries; it subscribed to the share capital and bond issues of other DFIs; it also acted as the coordinator of DFIs at all India level.	The key function of SIDBI was; to provide assistance to small scale units; initiating steps for technological up gradation and modernization of SSIs; expanding the marketing channel for the Small Scale Industries product; promotion of employment creating SSIs.
IFCI was a public sector DFI.	The ICICI differed from IFCI and IDBI with respect to ownership, management and lending operation. ICICI was a Private sector DFI.	It was a Public sector DFI.

Investment Institutions

Union Trust of India	Life Insurance Company	General Insurance Corporation
The UTI was setup on Nov 1963 after Parliament passed the UTI Act.	LIC was set up in 1956 after the insurance business was nationalised.	The GIC was formed by the central government in 1971.
The objective of UTI was to channel the savings of people into equities and corporate debts. The flagship scheme of the UTI was called Unit Scheme 64.	The objective of LIC is to provide assistance in the form of term loans; subscription of shares and debentures;resource support to financial institutions and Life insurance coverages.	The GIC had four subsidiaries; National Insurance Co; New India Assurance; Oriental Insurance; and United India Insurance.
In 2002, the Union Cabinet had decided to split UTI into UTI 1 and UTI 2 as a result of the prolonged crisis in UTI.		The General Insurance Nationalisation Amendment Act, 2002, has delinked the GIC from its four subsidiaries.

Commercial Banks

• Organised under the Banking Companies Act, 1956
• They operate on a commercial basis and its main objective is profit.
• They have a unified structure and are owned by the government, state, or any private entity.
• They tend to all sectors ranging from rural to urban
• These banks do not charge concessional interest rates unless instructed by the RBI
• Public deposits are the main source of funds for these banks

What are cooperative banks?

• Cooperative banks are financial entities set up on a co-operative basis and belonging to their members.
• This means that the customers of a cooperative bank are also its owners. They are registered under the States Cooperative Societies Act and they come under the RBI regulation under two laws:

• Banking Regulations Act, 1949
• Banking Laws (Cooperative Societies) Act, 1955
• They aim to promote savings and investment habits among people, especially in rural areas.
• These banks are broadly classified under two categories – Rural and Urban.
• The rural cooperative credit institutions can be further classified into:
• Short-term cooperative credit institutions
• Long-credit institutions

The short-term credit institutions can further be sub-divided into:

• State cooperative banks
• District Central Cooperative banks
• Primary Agricultural Credit Societies

Long-term institutions can either be:

• State Cooperative Agricultural and Rural Development Banks (SCARDBs), or
• Primary Cooperative Agriculture and Rural Development Banks (PCARDBs)
• Urban Cooperative Banks (UCBs) can be further classified into scheduled and non-scheduled.
• The scheduled and unscheduled can either be operating in a single state or multi-state

Regional Rural Banks (RRBs)

• RRBs have Scheduled Commercial Banks operating at the regional level in different states of India. They are recognized under the Regional Rural Banks Act, 1976 Act.
• They have been created with a view of serving primarily the rural areas of India with basic banking and financial services.
• However, RRBs may have branches set up for urban operations and their area of operation may include urban areas too.
• The area of operation of RRBs is limited to the area covering one or more districts in the State.

Their functions

RRBs also perform a variety of different functions. RRBs perform various functions in the following heads:

• Providing banking facilities to rural and semi-urban areas
• Carrying out government operations like disbursement of wages of MGNREGA workers, distribution of pensions etc.
• Providing Para-Banking facilities like locker facilities, debit and credit cards, mobile banking, internet banking, UPI etc.
• Small financial banks etc.

About NABARD

• NABARD is an apex development financial institution in India, headquartered at Mumbai with regional offices all over India.
• It is India’s specialised bank in providing credit for Agriculture and Rural Development in India.
• The Bank has been entrusted with “matters concerning policy, planning and operations in the field of credit for agriculture and other economic activities in rural areas in India”.
• It was established on the recommendations of B.Sivaraman Committee on 12 July 1982 to implement the NABARD Act 1981.
• NABARD supervises State Cooperative Banks (StCBs), District Cooperative Central Banks (DCCBs), and Regional Rural Banks (RRBs) and conducts statutory inspections of these banks.

About National Housing Bank

• NHB is an All India Financial Institution (AIFl), set up in 1988, under the National Housing Bank Act, 1987.
• The National Housing Policy, 1988 has envisaged the setting up of NHB as the Apex level institution for housing.
• It is an apex agency established to operate as a principal agency to promote housing finance institutions both at local and regional levels.
• It aims to provide financial and other support incidental to such institutions and for matters connected therewith.

EXIM Bank

• EXIM stands for Export-Import
• Export-Import Bank of India is a wholly-owned Govt. of India entity
• Established in 1982
• HQ : New Delhi
• Aim : financing, facilitating and promoting foreign trade of India.
• The EXIM bank extends Line of Credit (loC) to overseas financial institutions, regional development banks, sovereign governments and other entities abroad.
• Thus the EXIM Banks enables buyers in those countries to import developmental and infrastructure, equipment’s, goods and services from India on deferred credit terms.
• The bank also facilitates investment by Indian companies abroad for setting up joint ventures, subsidiaries or overseas acquisitions.

International Financial Services Centres

• IFSCs are intended to provide Indian corporates with easier access to global financial markets, and to complement and promote further development of financial markets in India.
• An IFSC enables bringing back the financial services and transactions that are currently carried out in offshore financial centres by Indian corporate entities and overseas branches/subsidiaries of financial institutions (FIs) to India.
• This is done by offering business and regulatory environment that is comparable to other leading international financial centres in the world like London and Singapore.
• The first IFSC in India has been set up at the Gujarat International Finance Tec-City (GIFT City) in Gandhinagar.

Banks Board Bureau

• Banks Board Bureau is an autonomous body of Union Government of India
  It is tasked to improve the governance of Public Sector Banks, recommend the selection of chiefs of government-owned banks and financial institutions and to help banks in developing strategies and capital raising plans
• It will have three ex-officio members and three expert members in addition to Chairman
• Financial services secretary, deputy governor of the Reserve Bank of India and secretary- public enterprises are BBB’s ex-officio members

Non-Banking Financial Companies

• A Non-Banking Financial Company (NBFC) is a company registered under the Companies Act, 1956 engaged in the business of loans and advances, acquisition of shares/stocks/bonds/debentures/securities issued by Government or local authority or other marketable securities of a like nature, leasing, hire-purchase, insurance business, chit business but does not include any institution whose principal business is that of agriculture activity, industrial activity, purchase or sale of any goods (other than securities) or providing any services and sale/purchase/construction of immovable property.
• A non-banking institution which is a company and has a principal business of receiving deposits under any scheme or arrangement in one lump sum or in instalments by way of contributions or in any other manner is also a non-banking financial company (Residuary non-banking company).

NBFCs are doing functions similar to banks. What is the difference between banks & NBFCs?

NBFCs lend and make investments, and hence their activities are akin to that of banks; however, there are a few differences as given below:

1. NBFC cannot accept demand deposits;
2. NBFCs do not form part of the payment and settlement system and cannot issue cheques drawn on itself.
3. Deposit insurance facility of Deposit Insurance and Credit Guarantee Corporation is not available to depositors of NBFCs, unlike in case of banks.
4. Unlike Banks which are regulated by the RBI, the NBFCs are regulated by multiple regulators; Insurance Companies- IRDA, Merchant Banks- SEBI, Micro Finance Institutions- State Government, RBI and NABARD.
5. The norm of Public Sector Lending does not apply to NBFCs.
6. The Cash Reserve Requirement also does not apply to NBFCs.

Classification and Categorization of NBFCs

Asset Finance Company	AN AFC is a company which is a financial institution whose principle business is the financing of physical assets such as automobiles, tractors, machines etc.
Investment Company	AN IC is any company which is a financial institution carrying on its principle business of acquisitions of securities.
Loan Company	LC is a financial institution whose primary business is of providing finance by making loans and advances.
Infrastructure Finance Company	IFC is an NBFC which deploys 75% of its total assets in infrastructure loans and has a minimum net owned fund of Re 300 Crore.
Systematically Important Core Investment Company	CIC is an NBFC carrying on the business of acquisition of shares and securities. CIC must satisfy the following conditions:It holds not less than 90% of its Total Assets in the form of investment in equity shares, preference shares, debt or loans in group companies; Its investments in the equity shares (including instruments compulsorily convertible into equity shares within a period not exceeding 10 years from the date of issue) in group companies constitutes not less than 60% of its Total Assets; (c) it does not trade in its investments in shares, debt or loans in group companies except through block sale for the purpose of dilution or disinvestment; (d) it does not carry on any other financial activity referred to in Section 45I(c) and 45I(f) of the RBI Act, 1934 except investment in bank deposits, money market instruments, government securities, loans to and investments in debt issuances of group companies or guarantees issued on behalf of group companies. (e) Its asset size is ₹ 100 crore or above and (f) It accepts public funds
Infrastructure Debt Fund NBFC	IDF NBFC primary role is to facilitate long term flow of debt into infrastructure projects. Only Infrastructure Finance Companies can sponsor IDF.
Micro Finance NBFC	MFI NBFC is a non-deposit taking NBFC having not less than 85% of its assets in the nature of qualifying assets which satisfy the following criteria:a) loan disbursed by a NBFC-MFI to a borrower with a rural household annual income not exceeding ₹ 1,00,000 or urban and semi-urban household income not exceeding ₹ 1,60,000; b. loan amount does not exceed 50,000 in the first cycle and 1,00,000 in subsequent cycles; c. total indebtedness of the borrower does not exceed 1,00,000; d. tenure of the loan not to be less than 24 months for the loan amount in excess of 15,000 with prepayment without penalty; e. loan to be extended without collateral; f. aggregate amount of loans, given for income generation, is not less than 50 per cent of the total loans given by the MFIs; g. loan is repayable on weekly, fortnightly or monthly instalments at the choice of the borrower

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Important UN Organizations in News

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27 Apr 2022

United Nation Overview:

• The United Nations is an international organization founded in 1945.  It is currently made up of 193 Member States.  The mission and work of the United Nations are guided by the purposes and principles contained in its founding Charter.
• Due to the powers vested in its Charter and its unique international character, the United Nations can take action on the issues confronting humanity in the 21st century, such as peace and security, climate change, sustainable development, human rights, disarmament, terrorism, humanitarian and health emergencies, gender equality, governance, food production, and more.
• The UN also provides a forum for its members to express their views in the General Assembly, the Security Council, the Economic and Social Council, and other bodies and committees. By enabling dialogue between its members, and by hosting negotiations, the Organization has become a mechanism for governments to find areas of agreement and solve problems together.
• The main organs of the UN are the General Assembly, the Security Council, the Economic and Social Council, the Trusteeship Council, the International Court of Justice, and the UN Secretariat.  All were established in 1945 when the UN was founded.