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Goaltide Daily Current Affairs 2022

Nov 09, 2022

Current Affair 1:
Infrastructure Resilience Accelerator Fund (IRAF)

 

The Coalition for Disaster Resilient Infrastructure (CDRI) announced Infrastructure Resilience Accelerator Fund (IRAF), a CDRI multi-partner trust fund, at the India Pavilion of COP27 at Sharm El Sheikh in Egypt.

All below four pints from original document:

Also see:

What is the CDRI?

 

The Coalition for Disaster Resilient Infrastructure (CDRI) is a multi-stakeholder global partnership of national governments, UN agencies and programmes, multilateral development banks and financing mechanisms, the private sector, and academic and knowledge institutions. It addresses the challenges of building resilience into infrastructure systems and development associated with it.

Is CDRI an intergovernmental organization?

CDRI is a multi-stakeholder global partnership of national governments, UN agencies and programmes, multilateral development banks and financing mechanisms, the private sector, and academic and knowledge institutions. At present, it is not an intergovernmental organization, which are ordinarily treaty-based organizations.

Where is the Secretariat of CDRI?

The CDRI Secretariat is based in New Delhi, India.

How is CDRI funded?

A large share of the estimated fund requirements to cover the core costs over the first five years has been invested by India. There are no obligations on the part of members to make financial contributions to CDRI. However, at any point (during the first five years or beyond), members of the CDRI may make voluntary financial or in-kind contributions to the CDRI.

Current Affair 2:
India’s First Sovereign Green Bonds Framework

 

Before proceeding, just look into India’s new INDCs:

The issuance of Sovereign Green Bonds will help Government of India (GoI) in tapping the requisite finance from potential investors for deployment in public sector projects aimed at reducing the carbon intensity of the economy.

Now,

Two examples from Table 1:

Current Affair 3:
Climate Risk and Early Warning Systems (CREWS) initiative

 

CREWS is a mechanism that funds Least Developed Countries (LDC) and Small Island Developing States (SIDS) for risk informed early warning systems, implemented by 3 partners: World Bank Global Facility for Disaster Risk Reduction (GFDRR), the World Meteorological Organization (WMO) and the United Nations office for Disaster Risk Reduction (UNDRR).

The objective of the CREWS initiative is to significantly increase the capacity to generate and communicate effective impact-based, multi-hazard, gender-informed, early warnings and risk information to protect lives, livelihoods, and assets in Least Developed Countries (LDCs) and small island developing States (SIDS).

 

Current Affair 4:
Circular Bioeconomy

 

The bioeconomy is an economic model based on the consumption of biological resources for the production of food and feed, products and energy. In a circular bioeconomy, biological resources are renewable, sustainably managed, recovered and reused as much as possible. This economic model is gaining momentum as a way to deliver society’s needs while responding to sustainability issues.

A circular bioeconomy offers a conceptual framework for using renewable natural capital to transform and manage our land, food, health and industrial systems, with the goal of achieving sustainable wellbeing in harmony with nature.

While the circular bioeconomy needs advanced technology and innovation as well as traditional knowledge to succeed, it ultimately relies on biodiversity as its true engine. This is because biodiversity determines the capacity of biological systems to adapt and evolve in a changing environment, and therefore is crucial for ensuring the resilience and sustainability of our biological resources.

 

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