Current Affair 1:

India's first 'Skill Impact Bond' launched

 

National Skill Development Corporation (NSDC) launched 'Impact Bonds'.

NSDC in collaboration with global partners launched first of its kind 'Impact Bonds' involving $14.4 million fund for skilling in India which will benefit 50,000 youth in four years by making them employment ready.

The target group includes 60 per cent women and girls and the objective is to equip them with skills and vocational training and provide access to wage-employment in Covid-19 recovery sectors including retail, apparel, healthcare and logistics. The stakeholders will work towards promoting effective interventions, supporting research and enhancing the impact of the skill development programme. The training will be imparted through NSDC's affiliated training partners.

What are 'Impact Bonds'?

Impact bonds are innovative financing instruments that leverage private sector capital and expertise, with a focus on achieving results. It shifts the focus from inputs to performance and results. Rather than a government or a donor financing a project upfront, private investors (risk investors) initially finance the initiative and are repaid by 'outcome funders', only if agreed-upon outcomes are achieved.

Background

Impact bonds arrived in the U.K. around 2010 as an innovative financing tool to address pressing social service delivery challenges. In an impact bond, a form of results-based financing, an investor provides upfront capital for social services programs, and this investment is repaid—often with interest—based on the program’s achievement of predetermined outcomes. In a social impact bond, the repayment is made by government, while in a development impact bond, the repayment is made by a third party, usually a donor organization or a foundation.

Current Affair 2:

Inter-Agency Space Debris Coordination Committee (IADC)

 

The Inter-Agency Space Debris Coordination Committee (IADC) founded in 1993 is an international governmental forum for the worldwide coordination of activities related to the issues of man-made and natural debris in space.

The primary purposes of the IADC are to exchange information on space debris research activities between member space agencies, to facilitate opportunities for cooperation in space debris research, to review the progress of ongoing cooperative activities, and to identify debris mitigation options.

he IADC member agencies include the following:

Current Affair 3:

India ranked 9th in VC funding for climate tech globally

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According to a report published by London & Partners and Dealroom.co, India ranks at the ninth spot globally for climate tech investment, with the country's climate tech businesses receiving US$ 1 billion in venture capital funding between 2016 and 2021.

Venture capital (VC) investment in climate technology companies has been rising worldwide since 2016, as per the report.

The top 10 countries for climate tech VC investment between 2016 and 2021 are - US (US$ 48 billion), China (US$ 18.6 billion), Sweden (US$ 5.8 billion), UK (US$ 4.3 billion), France (US$ 3.7 billion), Germany (US$ 2.7 billion), Canada (US$ 1.4 billion), Netherlands (US$ 1.3 billion), India (US$ 1 billion) and Singapore (US$ 700 million).

VC investment into climate tech businesses seven times higher this year than in 2016 (up from US$ 1.1 billion to US$ 8 billion).

Current Affair 4:

Pegasus- All You Want to Know About Supreme Court Appointed Committee

 

The Supreme Court ordered the constitution of an independent expert committee to look into the allegations of widespread and targeted surveillance of politicians, journalists, activist etc using the Pegasus spyware.

The CJI NV Ramana led bench declined the Centre's plea to allow them to appoint an Expert Committee for the purposes of investigating the allegations. The court said it is appointing an Expert Committee in view of the following compelling circumstances:

1. Right to privacy and freedom of speech are alleged to be impacted, which needs to be examined.
2. The entire citizenry is affected by such allegations due to the potential chilling effect.
3. No clear stand taken by the Union of India regarding actions taken by it.
4. Seriousness accorded to the allegations by foreign countries and involvement of foreign parties.
5. Possibility that some foreign authority, agency or private entity is involved in placing citizens of this country under surveillance.
6. Allegations that the Union or State Governments are party to the rights' deprivations of the citizens.

The court constituted three-member technical committee which will be overseen by Justice R.V. Raveendran, former Judge, Supreme Court of India, who will be assisted by the following persons:

 

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