Daily Current Affairs: October 5-6, 2023

Dakar Declaration

The Dakar Declaration was issued jointly by ministers from 46 of the world’s least-developed countries (LDC). This declaration was made in preparation for the 28th Conference of Parties (COP28) to the United Nations Framework Convention on Climate Change.

Key messages from the Dakar Declaration include calls for:

Swift worldwide reductions in emissions
Increased financial support for climate initiatives
Effective implementation of the new Loss and Damage Fund
An ambitious Global Stocktake to identify and address gaps in global climate action
The COP28 meeting is scheduled for November 30 to December 12, 2023.
The venue for COP28 is Dubai, United Arab Emirates.

Highlights Of The Declaration

The ministers focused on the findings of the Intergovernmental Panel on Climate Change’s Synthesis Report (IPCC AR6).
The report shows that GHG emissions are still rising globally.
Warming is nearing the 1.5°C mark at a fast pace.
They called on all nations, especially big emitters, to slash GHG emissions quickly and significantly.
They insisted that nations should review and bolster their 2030 targets in their NDCs.
This strengthening is necessary to align them with their fair contribution to the global effort. The ultimate aim is to restrict warming to 1.5°C.
The declaration mandates developed nations to present a clear strategy. This strategy should aim to double adaptation finance by 2025.
This finance should come from public, grant-based sources.
The newly proposed goal for climate finance should also provide fresh resources and exceed the existing $100 billion per year limit significantly.
The centralised carbon market mechanism of the UNFCCC needs to be functional by 2024.
The mechanism should recognise the specific needs of Least Developed Countries (LDCs).
The mechanism should also facilitate the implementation of Article 6 of the Paris Agreement’s capacity-building programme.

Least Developed Countries

LDCs, or Least Developed Countries, make up over 14% of the world’s population.
However, these countries contribute only around 1% of the total emissions from fossil fuels and industrial activities.
The ministers note that these countries hold minimal historical responsibility for climate change.
Despite their limited role in causing climate change, LDCs are compelled to adapt beyond their capabilities.
They are on the front lines of the climate crisis, facing its impacts head-on.

Source: Down To Earth

2023 Nobel Peace Prize

The 2023 Nobel Peace Prize is awarded to Iranian human rights activist, Narges Mohammadi.
She actively fights against the oppression of women in Iran.
Despite being imprisoned, she has earned this prestigious award.
She has become the 19th woman to receive the Nobel Peace Prize.
The Norwegian Nobel Committee appreciates her contribution to human rights and freedom.
The prize, worth about 1 million US dollars, will be presented on December 10th.

Prof. Dr Joyeeta Gupta Receives Spinoza Prize

Prof. Dr. Joyeeta Gupta, who hails from India, has bagged the Spinoza Prize. This is considered one of the most prestigious awards in Dutch science.
She earned this honour for her significant contributions to climate change research.
The presentation ceremony was held in the Netherlands’ city, The Hague.
Robert Dijkgraaf, Netherlands’ Minister for Education, Science, and Culture, presented the award.
The Dutch Research Council (NWO) awards this prize, which includes a 1.5 million euros cash component.
Gupta plans to use this monetary reward for advancing scientific research and promoting knowledge utilisation.
She holds a professorship at the University of Amsterdam, focusing on Environment and Development in the Global South.

Source: News On Air

India Re-elected As President Of AIBD

For the first time in its history, India has been elected as the President of the Asia-Pacific Institute for Broadcasting Development (AIBD) General Conference (GC) for a third consecutive term.
India’s re-election is unprecedented, as it had already served two terms from 2018-2021 and 2021-2023.
AIBD is an international organisation with a history spanning 50 years.
The organisation was established in 1977 under the guidance of UNESCO.
It is a unique inter-governmental organisation with 92 members from 44 different countries.
Membership includes 26 Government Members, who are represented by 48 broadcasting authorities and broadcasters, and 44 Affiliates, represented by 28 countries and regions across Asia, Pacific, Europe, Africa, Arab States, and North America.
India is a founding member of AIBD, with Prasar Bharati, India’s public service broadcaster, representing the Ministry of Information & Broadcasting, Govt. of India at AIBD.

Source: PIB

RuPay Domestic Card Scheme Agreement Between India And The UAE

NPCI International Payments Limited (NIPL) and Al Etihad Payments (AEP) have signed a strategic partnership.
NIPL is fully owned by India’s National Payments Corporation (NPCI).
AEP is an indirect subsidiary of the Central Bank of UAE (CBUAE).
They will work together to create and run the UAE’s national domestic card scheme.
This scheme will boost e-commerce and digital transactions in the UAE.
It will also improve financial inclusion and support the UAE’s move towards digitisation.
This partnership will provide more payment options, lower payment costs, and boost the UAE’s standing as a global payments leader.
NIPL’s mission is to help other countries create their own secure, cost-effective payment systems, and this partnership aligns with that mission.

India’s Digital Public Infrastructure (DPI)

India’s Digital Public Infrastructure (DPI), known worldwide, is revolutionising the payment sector.
The DPI framework consists of digital identity, payments, and data exchange.
These three components together are driving India’s fintech revolution.
In simple terms, nearly all adults in India have access to bank services.
They can authenticate themselves remotely via Aadhar.
Affordable and efficient internet services are available due to strong mobile connectivity.
These factors position India as the world’s third-largest fintech ecosystem.
The emergence of fintech unicorns in India is rapid.
The country has seen a 367% rise in digital transaction users in the last five years.
The active customer base for digital transactions exceeds 340 million.