Logo
Published on

Climate Equity, Economic Frauds, and Governance: Key Insights for UPSC – November 24, 2023

Authors
  • avatar
    Name
    Current Affairs Wala
    Twitter

Introduction

Welcome to our in-depth analysis of significant developments in environment, economy, and governance as of November 24, 2023, tailored for UPSC aspirants. In this edition, we dissect India's pivotal demand for equity in global carbon emissions at COP28, amidst the urgent need for climate justice. We also demystify the mechanics of Ponzi schemes, revealing their implications for economic security. Furthermore, we delve into a landmark judgment by the Supreme Court of India, reshaping the understanding of the governor's powers in Indian polity. Join us as we navigate these intricate topics, offering essential insights for a comprehensive understanding of current affairs.

ENVIRONMENT AND TECHNOLOGY

COP28 INDIA'S EQUITY DEMAND

  • United Nations Framework conventions on climate change in 1992 states that per capita emissions in developing countries are still not comparable to the developed nations.
  • But the emission rate of these developing countries due to their higher population and demand generation will grow to meet their social and development needs.
  • The convention recognises the common but differentiated responsibilities and respective capabilities principle which actually did not mean that the different states have different responsibilities and different capabilities in tackling climate change.
  • This particular principle was again reaffirmed in the Paris agreement in which it was told that the increase in the global average temperature to below 2 degree Celsius above pre industrial level and to limit the temperature increase to 1.5 degree above pre industrial level.
  • But according to the IPCC report, every 1000 billion tons of carbon dioxide emission causes an estimated 0.45° rise in the global surface temperature.

WHAT IS THE GLOBAL CARBON BUDGET?

  • The term global carbon budget actually refers to the maximum cumulative global anthropogenic carbon dioxide emission from the pre industrial error to when such emission reaches net zero resulting in limiting global warming.
  • And the remaining carbon budget actually indicates how much carbon dioxide could be still emitted from a specified time after the pre industrial period.
  • It is also stated that almost 4th of the global carbon budget stands with only one fifth remaining to meet the target set in the Paris agreement. Carbon emission from a industrial plant - currentaffairswala.com

WHO IS RESPONSIBLE FOR CUMULATIVE GLOBAL CARBON EMISSION?

  • According to the IPCC AR 6 report the developed countries have this disproportionately larger share of the global carbon budget till date.
  • The contribution of South Asian countries which includes India to historical emission is only around 4% in spite of having almost 24% of the entire world population.
  • And at COP 28 India must demand an affair share of its carbon budget or equivalent reparations to bring about fairness within global order.
  • Based on India's historical emissions from 1850 to 2019 India has a carbon credit which is equivalent to 338 gt turns of carbon dioxide.
  • Without a very promising finance and technology support as promised in 1992 at Rio de Janeiro art Summit developing countries are in an even more unfair world. Biggest carbon emitters

INDIAN ECONOMY

PONZI SCHEMES

  • Ponzi is an investment fraud that pays existing investors with funds collected from new investors.
  • Often the ponzi organizers promise to invest customer's money and generate high returns with little or no risk.
  • That the fraudsters do not invest the money and said they used to pay those who invested earlier and keep some for themselves.
  • For that reason these schemes require a constant flow of new money to survive.

SOME CHARACTERISTICS OF PONZI SCHEMES

  • High return with little or no risk.
  • Unregistered investment.
  • Unlicensed sellers.
  • Overlay consistent return and the investments go up and down over time one should be skeptical about an investment that regularly generates positive return regardless of overall market conditions.

INDIAN POLITY

GOVERNOR HOLDS NO VETO POWER BILLS SAYS SUPREME COURT

  • The Supreme court said that a governor in a case withholding assent to a should send it back to the state legislature as soon as possible with a message to reconsider or any proposed law.
  • If the legislative assembly of that state again passes the bill with or without amendments the governor has no choices or discretion and he has to give his assent to it.
  • "The substantive part of article 200 powers the governor to withhold a sent to the bill" in Saturn event the governor must mandatory follow the course of action which is indicated in the first provision of communicating to the state legislature as soon as possible
  • The ultimate decision on whether or not to accept the advice of the governor completely belongs to the wish of the legislature alone.
  • The message or that wise of the governor is not binding to the legislature is evidence from the use of expression "if the bill passes again whether without amendments"
  • The court held that if a governor who choses to withhold a well without doing anything for the would we be acting in contravention of the constitution.
  • "The governor act as the unelected head of state would be in a position to virtually beetle the function of the legislative domain by a duly elected legislature by simply declaring that ascent is withheld without any further recourse search of course of action of the contrary to the fundamental principles of a constitutional democracy based on a parliamentary pattern of governance".
Discuss on Twitter