In News:

The International Maritime Organization (IMO) has approved a draft Net-Zero Framework aimed at achieving net-zero greenhouse gas (GHG) emissions from global shipping by around 2050. This is a major milestone in aligning the maritime sector with global climate goals.

Overview of the Draft Net-Zero Framework

What is it?

The framework proposes a legally binding global mechanism to reduce GHG emissions in the maritime industry. It is the first international effort to combine sector-wide emissions caps with a carbon pricing model, setting a precedent for other global industries.

Key Features

• Legal Foundation: Introduced under Chapter 5 of MARPOL Annex VI, focusing on the prevention of air pollution from ships.
• Global Fuel Standard (GFI): Requires ships to reduce GHG intensity of fuel on a “well-to-wake” basis (i.e., accounting for emissions from fuel production to usage).
• Carbon Pricing Mechanism:
  • Ships that exceed GFI thresholds must purchase remedial credits.
  • Ships using low-GHG fuels can earn and trade surplus credits.
• IMO Net-Zero Fund:
  • Redistributes carbon revenues to support:
    • Zero-emission vessels
    • R&D and capacity building
    • Climate resilience initiatives in Small Island Developing States (SIDS) and Least Developed Countries (LDCs).
• Scope: Applies to ships over 5,000 gross tonnage (GT), covering approximately 85% of global maritime CO? emissions.
• Compliance Tools:
  • Credit trading among ships.
  • Purchase of credits through the IMO fund.
  • Credit banking for future compliance.

Significance of the Framework

• First Global Regulation of Its Kind: Introduces a unified emissions and pricing system for international shipping, transcending national boundaries.
• Promotes Technological Shift: Encourages the adoption of green fuels, carbon capture systems, and hybrid propulsion technologies.
• Supports Climate Goals: Aligns with the Paris Agreement and the IMO’s 2023 Strategy for emissions reduction.
• Equity and Justice-Based Approach: Prioritises financial and technological support to vulnerable maritime nations.
• Catalyst for Green Shipping: Expected to boost demand for ammonia, green methanol, and hydrogen-based marine fuels.

On December 20, 2024, the Government of India and the Asian Development Bank (ADB) signed a $350 million policy-based loan aimed at expanding India's manufacturing sector and improving the resilience of its supply chains. This loan is part of the Strengthening Multimodal and Integrated Logistics Ecosystem (SMILE) program.

Key Points:

• Loan Agreement Signatories:
  • Department of Economic Affairs (DEA), Ministry of Finance, Government of India
  • Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce and Industry
  • Asian Development Bank (ADB)
• SMILE Program:
  • Goal: Strengthen the logistics ecosystem to enhance India's manufacturing sector and improve supply chain resilience.
  • Structure: The program includes two subprograms focusing on strategic reforms in logistics and infrastructure development.
• Key Features of the SMILE Program:
  • Strengthening Multimodal Infrastructure: Enhances logistics infrastructure at the national, state, and city levels.
  • Standardization: Improves warehousing and other logistics assets to attract private sector investment.
  • External Trade Logistics: Enhances efficiencies in external trade logistics.
  • Smart Systems: Adopts systems for efficient, low-emission logistics to promote sustainability.
• Expected Outcomes:
  • Cost Reduction & Efficiency: Strategic reforms will reduce logistics costs and improve efficiency.
  • Job Creation: Infrastructure development and reforms are expected to generate substantial employment opportunities.
  • Gender Inclusion: The program promotes gender inclusion through economic growth initiatives.
• Impact on India’s Economy:
  • The transformation of India’s logistics sector will enhance the competitiveness of the manufacturing sector and drive sustainable economic growth.

About the Asian Development Bank (ADB):

• Headquarters: Mandaluyong, Metro Manila, Philippines.
• Established: December 19, 1966.
• Members: 69 countries, including both regional (e.g., India, China) and non-regional (e.g., USA, Japan) members.
• Function: ADB promotes social and economic development in Asia and the Pacific, providing loans, grants, and technical assistance for development projects.
• Key Shareholders:
  • Japan: 15.57%
  • USA: 15.57%
  • India: 6.32%
  • China: 6.43%
  • Australia: 5.77%

In News:

Recently, the Indian Army successfully conducted the Multilateral Annual Joint Humanitarian Assistance and Disaster Relief (HADR) Exercise, 'SanyuktVimochan 2024' at Ahmedabad and Porbandar, Gujarat.

Key Highlights:

• Conducted by: Konark Corps of Southern Command, Indian Army.
• Day 1: Tabletop Exercise (TTX)
  • Theme: 'Cyclone in Coastal Region of Gujarat'.
  • Focused on simulating a cyclone scenario affecting the Okha-Porbandar coastline.
  • Discussed disaster relief strategies and interagency cooperation to improve response readiness.
  • Attended by senior officials from NDMA, Armed Forces, State Disaster Management, and industry representatives, including delegates from nine foreign countries.
• Day 2: Multi-Agency Capability Demonstration
  • Held at Chowpatty Beach, Porbandar.
  • Simulated Disaster Scenario: Coordinated response to a cyclone, showcasing joint operations by:
  • Indian Army, Navy, Air Force, Coast Guard, NDRF, SDRF, and other Central and State agencies.
  • Key actions demonstrated:
    • Requisition and Surveillance: Civil administration’s request for Armed Forces' assistance, followed by area surveillance.
    • Rescue Operations: Insertion of personnel to rescue casualties.
    • Casualty Evacuation: Use of resources to evacuate and assist victims.
    • Resuscitation and Rehabilitation: Restoration efforts for affected citizens.
• Industrial Display &Atmanirbhar Bharat Initiative:
  • Showcased indigenous HADR equipment from Indian defense industries.
  • Highlighted technological advancements and self-reliance in disaster management.
• SanyuktVimochan 2024 enhanced India's disaster response capabilities, ensuring a coordinated and effective approach to humanitarian assistance.
• The exercise also bolstered India’s leadership in global disaster relief, contributing to international best practices and collaborative efforts in humanitarian assistance and disaster response.

Why is it in the News?

Experts from The International Centre for Integrated Mountain Development (ICIMOD) called for ‘bold action’ and ‘urgent finance’ to prevent collapse of nature in High Mountain Asia on February 5, 2024, in the Nepalese capital of Kathmandu.

About the International Centre for Integrated Mountain Development (ICIMOD):

• The International Centre for Integrated Mountain Development (ICIMOD) is an intergovernmental knowledge and learning center dedicated to serving the communities of the Hindu Kush Himalaya (HKH) region.
• Established and inaugurated on December 5, 1983, its mission is to generate and share knowledge that informs regional policy and action, attracting investments to facilitate the transition to greener, more inclusive, and climate-resilient development.

Membership and Governance:

• ICIMOD's member countries include Afghanistan, Bangladesh, Bhutan, China, India, Myanmar, Nepal, and Pakistan.
  • Its highest governing body is the Board of Governors, composed of representatives from each member country and independent members nominated by the ICIMOD Support Group based on their professional expertise and experience.

Functions and Objectives:

• The center serves the HKH region by generating and sharing information and knowledge to address critical mountain-related challenges.
  • It bridges scientific research with policy formulation and practical on-the-ground implementation.
  • Furthermore, ICIMOD provides a regional platform for experts, planners, policymakers, and practitioners to exchange ideas and perspectives, facilitating sustainable mountain development.
• Headquarters of ICIMOD is in Kathmandu, Nepal.

Key Facts about the Hindu Kush Himalaya (HKH) Region:

• The Hindu Kush Himalaya (HKH) region spans 3,500 km across eight countries, from Afghanistan in the west to Myanmar in the east.
• It serves as the source of ten major Asian river systems, including the Amu Darya, Indus, Ganga, Brahmaputra, and others.
• The HKH region plays a vital role in providing water, ecosystem services, and livelihoods to the people living within its boundaries.