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PIB News Synopsis 15th December, 2019

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1. Ministry of Coal to Establish Sustainable Development Cell for Environmental Mitigation Measures

  • To promote environmentally sustainable coal mining in the country and address environmental concerns during the decommissioning or closure of mines
  • Role of Sustainable Development Cell:
    The Sustainable Development cell (SDC) will advise, mentor , plan and monitor the mitigation measures taken by the coal companies for maximising the utilisation of available resources in a sustainable way, minimising the adverse impact of mining and mitigating it for further ecosystem services and will act as nodal point at Ministry of Coal level in this matter. This cell will also formulate the future policy framework for the environmental mitigation measures including the Mine closure Fund.
  • Tasks of the cell:
    1. Land amelioration and afforestation
    2. Air quality, emission and noise management
    3. Mine water management
    4. Sustainable Overburden Management
    5. Sustainable Mine Tourism
    6. Planning and Monitoring (of Mine Closure Plans)
    7. Policy, Research, Education, and Dissemination

2.Marathon International climate talks closed with no deal on carbon markets

  • UN Climate Change Conference (COP25) was held in Madrid, Spain, under the presidency of the Chilean government.
  • Negotiators postponed until next year a key decision on global carbon markets
  • Despite holding the longest climate talks ever in 25 nearly annual editions, they left one of the thorniest issues for the next summit in Glasgow.
  • The talks have been accompanied at times by angry protests from indigenous and environmental groups, both inside and outside the venue. The demonstrations reflected growing frustration, particularly among young people, at the slow pace of government efforts to curb climate change

3. S&P reaffirms India’s rating at ‘BBB’ with stable outlook

  • Rating Agency S&P has reaffirmed the Sovereign Credit Rating of India at BBB
  • In their Summary publication on India, they said India’s economy continues to achieve impressive long term growth rates despite a recent deceleration.
  • The report said that it is believed that the economic slowdown is cyclical rather than structural.
  • They expect the economy to continue to outperform its peers on the back of rising domestic demand and strong demographics
  • Standard & Poor’s (S&P) is considered one of the Big Three credit-rating agencies, which also include Moody’s Investors Service and Fitch Ratings.
  • A credit rating is an evaluation of the credit risk of a prospective debtor (an individual, a business, company or a government), predicting their ability to pay back the debt, and an implicit forecast of the likelihood of the debtor defaulting.
  • It represents an evaluation of a credit rating agency.

4. World’s 1st fully electric commercial aircraft

It took its inaugural test flight in Vancouver, Canada.

5. 2020 Crystal Award: World Economic Forum

  • The Crystal Awards recognises as well as celebrates the achievements of leading artists and cultural figures whose leadership inspires inclusive and sustainable change.
  • The annual awards are hosted by World Economic Forum’s World Arts Forum.
  • Recipients: Jin Xing, Lynette Wallworth, Theaster Gates, Deepika Padukone
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