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Type: IOCR

  • What did the ILO report state about International migrants?

    Why in the News?

    According to the International Labour Organisation’s (ILO) Global Estimates on International Migrant Workers, released in Geneva, the global population of international migrants reached 284.5 million in 2022, with 255.7 million of them being of working age (15 and older).

    Why are there more male International Migrants in the global labour force than women? 

    • Gender Roles and Norms: Traditional gender roles and societal norms often restrict women’s ability to migrate autonomously. Women are frequently expected to prioritize family responsibilities, which limits their opportunities for international migration and labor market participation.
    • Labour Market Segmentation: Women are often concentrated in specific sectors such as domestic work, caregiving, and low-skilled service jobs, which are undervalued and less visible.
      • Men, on the other hand, dominate higher-paying sectors like construction and agriculture, which are more open to international migrants.
    • Barriers to Employment: As per ILO, Migrant women face higher unemployment rates (8.7%) compared to migrant men (6.2%), due to factors such as language barriers, unrecognised qualifications, limited childcare options, and gender-based discrimination in host countries.
    • Economic and Social Independence: Women’s migration decisions are influenced by their access to resources and social networks. A lack of autonomy or financial independence can hinder their ability to migrate for work.
      • In some cases, women migrate as dependents or spouses of male workers, which limits their access to legal employment opportunities in the host country.

    Which economic sectors attract IMs?

    • Construction: The construction industry employs a significant number of male migrants, particularly in regions with rapid urbanisation and infrastructure projects. This sector, part of the 35.6% of male migrant employment in industry, plays a vital role in economic expansion.
    • Agriculture: Globally, 7.1% of international migrants work in agriculture, with higher figures in regions like Africa, where 27.5% are employed in agriculture, forestry, and fishing. Migrants are crucial for meeting seasonal labour demands.
    • Manufacturing: Manufacturing heavily relies on migrant workers in industrialized nations, with migrants filling manual labour and skill-specific roles. This sector highlights the alignment of migrant labour with economic development needs.
    • Services Sector: Approximately 68.4% of international migrants are employed in the services sector, compared to 51.5% of non-migrants. This sector includes a wide range of occupations, but it is particularly noted for:
      • Care Work: A significant number of migrant women are employed in caregiving roles, which include healthcare and domestic services. About 28.8% of migrant women work in the care economy.
      • Hospitality and Retail: Many migrants find employment in hotels, restaurants, and retail stores, especially in high-demand tourist areas.

    Which are the main host countries?

    Approximately 68.4% of international migrants are concentrated in high-income countries followed by 17.4% (29.2 million) in upper-middle-income countries.

    • Regional Distribution of Migrant Workers (2022): International migrants in the labour force were primarily concentrated in Europe and Central Asia (34.5%, 57.8 million), followed by the Americas (27.3%, 45.8 million), Asia and the Pacific (16.2%, 27.2 million), the Arab States (13.5%, 22.6 million), and Africa (8.5%, 14.3 million). The majority resided in Northern, Southern, and Western Europe (23.3%), Northern America (22.6%), and the Arab States (13.5%), collectively hosting 59.4% of all migrant workers.
    • Significant Proportions in Labor Forces: Migrants formed more than one-third (37.2%) of the Arab States’ labour force. Significant proportions were also observed in Europe and Central Asia (12.9%) and the Americas (9%), highlighting their vital role in these economies.

    Conclusion: Governments and international organizations should implement gender-responsive migration policies that address barriers faced by women. This includes creating support systems for childcare, recognizing foreign qualifications, and ensuring equal access to legal employment opportunities in host countries.

    Mains PYQ:

    Q “Success of make in India program depends on the success of Skill India programme and radical labour reforms.” Discuss with logical arguments. (UPSC IAS/2015)

  • UNICEF’s ‘Global Outlook 2025: Strengthening the foundations of children’s futures

    Why in the News?

    Recently, UNICEF’s Global Outlook 2025 emphasizes the urgent need for resilient systems to protect children’s rights amid crises like conflict, climate change, and economic instability, ensuring equitable access to essential services globally.

    What are the primary challenges facing children in the current global landscape as per UNICEF’s Global Outlook 2025?

    • Conflict and Displacement: Over 473 million children, or about 19% globally, live in conflict-affected areas—a figure that has nearly doubled since the 1990s. This exposes children to severe risks, including displacement, starvation, disease, and psychological trauma.
    • Economic Instability: Nearly 400 million children live in countries in debt distress, where financial pressures are reducing investments in essential services such as education and healthcare, further deepening their vulnerabilities.
    • Climate Change: Around 1 billion children are at extremely high risk from climate impacts. Disruptions from extreme weather events affect their access to education and healthcare, while only 2.4% of global climate finance is directed toward child-focused initiatives.
    • Digital Inequality: The expansion of digital public infrastructure (DPI) offers opportunities to improve service delivery, but significant digital divides persist, disproportionately affecting children in low-income and marginalised communities.

    What are the steps taken by the Indian Government?

    • Beti Bachao Beti Padhao (BBBP): Launched in 2015, this flagship scheme aims to address the declining child sex ratio and promote the education and empowerment of girls.
    • Sukanya Samriddhi Yojana (SSY): This savings scheme encourages parents to save for their daughters’ education and marriage by offering attractive interest rates and tax benefits.
    • Integrated Child Development Services (ICDS): Established in 1975, ICDS focuses on improving the nutritional and health status of children under six years, pregnant women, and lactating mothers.
    • National Nutrition Mission (POSHAN Abhiyaan): Launched in 2018, this mission aims to reduce malnutrition among children and women through a convergence of various schemes and community-based approaches.
    • Mission Vatsalya: This initiative focuses on child protection services, ensuring that vulnerable children receive necessary support and care.
    • Child Protection Policies: The government has enacted several laws, such as the Protection of Children from Sexual Offences (POCSO) Act and the Juvenile Justice (Care and Protection of Children) Act, to safeguard children’s rights and ensure their welfare.
    • National Commission for Protection of Child Rights (NCPCR): The NCPCR plays a crucial role in promoting and protecting children’s rights in India. It has launched various initiatives such as the POCSO e-Box for reporting child sexual abuse and the Bal Panchayat Abhiyan to encourage child-led governance.

    How can global governance and national systems be strengthened to support children’s rights and well-being?

    Global governance: 

    • Strengthening International Mechanisms: The United Nations should develop specialized frameworks to protect children’s rights in the digital environment, ensuring online safety and privacy are integral to global governance policies.
    • Ensuring Accountability: States and corporations must be held accountable for violations of children’s rights, with the adoption of measures like the Guiding Principles on Business and Human Rights to ensure businesses prioritize child protection.
    • Fostering Global Collaboration: Promoting bilateral and multilateral cooperation can address challenges such as cyberbullying and online exploitation through shared best practices and coordinated efforts to safeguard children’s rights worldwide.

    National systems: 

    • Developing Child Rights Governance Systems: Nations should establish comprehensive frameworks that integrate children’s rights into laws and policies, aligning with the United Nations Convention on the Rights of the Child (UNCRC) to prioritize children’s needs in governance.
    • Strengthening Civil Society Organizations (CSOs): Enhancing the capacity of CSOs through training programs can improve their ability to advocate for and implement child rights initiatives while effectively engaging with government institutions.
    • Advancing Evidence-Based Advocacy: Utilizing data-driven approaches to shape policy priorities can ensure child rights are central to resource allocation and budgeting at global, regional, and national levels.
    • Empowering Children’s Participation: Encouraging children to actively participate in decision-making processes helps create policies that address their needs and aspirations, fostering a more inclusive governance system.
    • Establishing Robust Monitoring Systems: Implement mechanisms to regularly track and report on children’s well-being indicators to ensure accountability and measure progress in achieving child rights standards.

    Way forward: 

    • Integrated Global-National Synergy: Strengthen collaboration between international frameworks and national systems to prioritize children’s rights in governance, focusing on accountability, digital safety, and climate resilience through coordinated policies and resource allocation.
    • Child-Centric Policy and Participation: Develop evidence-based policies that directly address children’s vulnerabilities while empowering them to participate in decision-making, ensuring sustainable and responsive governance structures.

    Mains PYQ:

    Q The Right of Children to Free and Compulsory Education Act, 2009 remains inadequate in promoting an incentive-based system for children’s education without generating awareness about the importance of schooling. Analyse. (UPSC IAS/2022)

  • [pib] QS World Future Skills Index

    Why in the News?

    PM has expressed his happiness as the QS World Future Skills Index ranks India 2nd for Digital Skills, ahead of Canada and Germany.

    About the QS World Future Skills Index

    • The index is launched by Quacquarelli Symonds (QS), a London-based higher education firm, the index evaluates countries on their readiness to meet evolving job market demands.
    • It assesses over 190 countries, analyzing:
      • 280 million job postings
      • 5 million employer skill demands
      • 17.5 million research papers
    • 4 Key Indicators:
      • Skills Fit: Alignment between workforce skills and employer demands.
      • Academic Readiness: Higher education’s capability to prepare students for future skills.
      • Future of Work: Job market readiness for emerging skills in digital, AI, and green technologies.
      • Economic Transformation: Capacity for innovation and sustainable growth.
    • Countries are classified into 4 categories as:
      • Future Skills Pioneers
      • Practitioners
      • Contenders (India’s category)
      • Aspirants

    Key Observations  

    • India ranks 2nd globally in digital, AI, and green skills, showcasing its leadership in technology and sustainability.
    • It achieved a perfect score in economic capacity, reflecting strong growth potential.
    • However, India scored poorly in skills fit (59.1) and sustainability innovation (15.6), highlighting gaps in education and innovation alignment.
    • Developed nations like the USA, UK, and Germany lead as “future skills pioneers.”

    Significance of the Index

    • The report serves as a global benchmark for readiness in meeting evolving job market demands.
    • It highlights the importance of digital, AI, and green skills for future industries.
    • It provides actionable insights for policy reforms in education and workforce training.
    • It positions India to address gaps and leverage its strengths to secure a competitive global role.

    PYQ:

    [2022] What are the main socio-economic implications arising out of the development of IT industries in major cities of India?

  • African leaders adopt new Kampala Declaration

    Why in the News?

    The Extraordinary African Union Summit on the Comprehensive Africa Agriculture Development Program (CAADP) concluded in Kampala, Uganda, with the adoption of the transformative Kampala Declaration.

    kampala

    What is the Kampala Declaration?

    Details
    About
    • Successor to the Malabo Declaration (2014–2025).
    • Focuses on transforming agriculture into a modern, climate-smart sector.
    • Aligns with CAADP’s vision and African Union’s Agenda 2063.
    Key Highlights
    • Adoption of a ten-year post-Malabo agenda (2026–2035) with implementation and monitoring strategies.
    • Promotes climate-smart innovations for sustainable food production.
    • Integrates agricultural policies with broader development objectives like nutrition and environmental sustainability.
    • Acknowledges global challenges like COVID-19 and geopolitical disruptions.
    Significant Features
    • Adopts an agri-food systems approach, addressing issues across the food value chain.
    • Emphasizes environmental sustainability and diverse, nutritious diets.
    • Builds resilience to withstand climate, economic, and geopolitical shocks.
    • Ensures involvement of diverse stakeholders, including policymakers, farmers, and private sector actors.
    • Establishes monitoring frameworks for accountability and progress tracking.

     

    PYQ:

    [2015] The ‘Fortaleza Declaration’ recently in the news, is related to the affairs of:

    (a) ASEAN

    (b) BRICS

    (c) OECD

    (d) WTO

  • McKinsey released Report on Demographic Transition and Depopulation

    Why in the News?

    The report, ‘Dependency and Depopulation? Confronting the Consequences of a New Demographic Reality’, released by McKinsey Global Institute, provides a detailed comparative analysis of demographic dynamics in developed (first wave) and developing (later wave) countries.

    IMPORTANT: What is Demographic Transition Theory?

    Demographic transition describes changes in birth and death rates and population age structure as societies develop economically and technologically.

    • Stage 1: High birth and death rates result in a stable population.
    • Stage 2: Decline in death rates due to improved healthcare and sanitation, causing rapid population growth.
    • Stage 3: Falling birth rates slow population growth, influenced by urbanization and access to contraception.
    • Stage 4: Low birth and death rates lead to a stable or aging population, reflecting advanced development.

    Key Highlights of the McKinsey Report 

    • Two-thirds of humanity now live in countries with fertility rates below the replacement level of 2.1 children per family.
    • Age structures are shifting from pyramids to obelisks, with a growing elderly population and a shrinking youth demographic.
    • Populations in some major economies are projected to decline by 20%-50% by 2100 (UN).
    • The global support ratio (working-age individuals per senior aged 65 or older) is projected to decline from 6.5 today to 3.9 by 2050.
    • In India, the ratio will fall from 10 workers per senior in 1997 to 4.6 in 2050 and just 1.9 by 2100, similar to Japan’s current levels..
    • Consumption Patterns in India:
      • India’s share in global consumption is projected to rise from 9% today to 16% by 2050, while shares of advanced economies are expected to remain flat or decline.
      • By 2050, the share of consumption by seniors aged 65 and older will rise from 8% to 15%, reflecting changing consumer demographics.
      • The percentage of hours worked by seniors is projected to increase from 2.9% to 5.4% by 2050 under current trends.

    About India’s Diminishing Demographic Dividend

    • India has 33 years to fully capitalize on its demographic dividend before its support ratios align with those of advanced economies.
    • From 1997 to 2023, India’s favorable demographics added 0.7 percentage points per year to its GDP per capita growth.
    • This contribution is expected to shrink to 0.2 percentage points per year through 2050 as the population ages.
    • India’s support ratio (working-age individuals per senior) is projected to decline significantly, creating greater dependency on fewer workers to support older populations.
    • By 2050, there will be only 4.6 workers per senior, down from 10 workers per senior in 1997.
    • India’s GDP per capita is currently 18% of the World Bank’s high-income threshold, emphasizing the need for faster economic progress to “get rich before it gets old.”
    • Increasing labor force participation, particularly among women, and improving worker productivity are critical to sustaining economic growth.
    • Despite rapid progress, India’s worker productivity remains at $9 per hour, significantly lower than the $60 per hour average in high-income countries.

    PYQ:

    [2012] Consider the following specific stages of demographic transition associated with economic development:

    1. Low birth-rate with low death rate
    2. High birth-rate with high death rate
    3. High birth-rate with low death rate

    Select the correct order of the above stages using the codes given below:

    (a) 1, 2, 3

    (b) 2, 1, 3

    (c) 2, 3, 1

    (d) 3, 2, 1

  • [pib] UN Committee of Experts on Big Data and Data Science for Official Statistics (UN-CEBD)

    Why in the News?

    India has joined the prestigious UN Committee of Experts on Big Data and Data Science for Official Statistics (UN-CEBD).

    About UN-CEBD

    Details
    • Established in 2014 during the 45th session of the UN Statistical Commission.
    • First Chair: Australia.
    • Explores the potential of big data and data science in transforming official statistics.
    • Monitors progress toward Sustainable Development Goals (SDGs) using innovative data sources.
    Structural Mandate and Implementation Mandate:

    • Develop global programs for using big data in official statistics.
    • Monitor SDG indicators using advanced data science.
    • Address challenges like cross-border data sharing and ethical concerns.

    Governance Structure:

    • Advisory Board: Strategic oversight and guidance.
    • UN Bureau: Handles operational tasks.

    Implementation Mechanism:

    • Capacity building through training.
    • Promote global collaboration and innovation.
    Powers and Functions
    • Strategic Vision: Integrate big data into national/international statistical systems.
    • Practical Use: Utilize non-traditional data sources like IoT, satellite imagery, and private sector data.
    • Capacity Building: Train statisticians in data science techniques.
    • Global Standards: Develop frameworks for cross-border data sharing and ethical practices.
    • Policy Integration: Advocate for data-driven policymaking.
    Why India Joined?
    • Enhancing Statistical Capabilities: Modernize processes with IoT, satellite imagery, etc.
    • Global Collaboration: Share innovations like the Data Innovation Lab and learn best practices.
    • SDG Monitoring: Leverage big data for robust tracking of SDGs.
    • Showcasing Leadership: Strengthen India’s position in global data governance.
    • Economic and Policy Benefits: Enable evidence-based decisions to address socio-economic challenges.

  • INTERPOL publishes first Silver Notice targeting criminal assets

    Why in the News?

    The International Criminal Police Organization (INTERPOL) has issued a Silver Notice to trace and recover criminal assets, marking the first expansion of its color-coded notices to specifically target the finances of organized crime networks.

    What is Silver Notice?

    • It is an INTERPOL initiative aimed at tracing, locating, and recovering criminal assets linked to crimes such as fraud, corruption, drug trafficking, and environmental offenses.
    • Objective: It targets assets like properties, vehicles, financial accounts, and businesses that are connected to criminal activities.
    • It was launched in 2023 as part of a pilot phase involving 52 countries, and this phase will run until November 2025.
    • How does it work?
      • Member countries can request INTERPOL to issue a Silver Notice for assistance in gathering information about criminal assets.
      • The Notice is shared globally with all 196 INTERPOL member countries, while Diffusions can be directed to specific countries for more targeted cooperation.
      • All Silver Notices and Diffusions are reviewed by INTERPOL’s General Secretariat to ensure compliance with its rules, including prohibitions on political misuse as outlined in Article 3 of the INTERPOL Constitution.
      • The first-ever Silver Notice was requested by Italy to trace assets linked to a senior mafia member, showcasing its potential to combat organized crime.

    INTERPOL publishes first Silver Notice targeting criminal assets

    About INTERPOL

    Structural Mandate and Implementation
    • Establishment: Founded in 1923 in Vienna, now headquartered in Lyon, France, with 195 member countries.
    • Mandate: Supports cross-border police cooperation, helping agencies combat international crime.
    • India became a member of INTERPOL in June 1956.

    Structural Mandate:

    • Secretary General: Oversees daily operations.
    • General Secretariat (Lyon): Manages global databases and police communication systems.
    • Global Complex for Innovation (Singapore): Research, training, and cybercrime initiatives.
    • Regional Bureaus: Satellite offices worldwide.
    • National Central Bureaus (NCBs): Each member country, such as India’s CBI, serves as its national focal point for INTERPOL.
    • I-24/7 Service: A secure global police communication system enabling real-time sharing of urgent and sensitive information.
    Powers and Functions
    • Data Sharing: Manages 19 police databases on crimes and criminals, accessible in real-time by member countries.
    • Notices and Diffusions: Issues color-coded notices (e.g., Red, Yellow, Blue, Silver) to locate fugitives, missing persons, or criminal assets; not legally binding but widely used by law enforcement.

    Operational Support:
    – Investigative Assistance: Provides forensics, analysis, and fugitive-tracking support.
    – Coordination: Enables law enforcement agencies to handle transnational crime efficiently.

  • Indonesia officially joined BRICS as the 11th member

    Why in the News?

    Indonesia has officially joined BRICS (Brazil, Russia, India, China, South Africa) as a full member. This move was unanimously approved during the 2023 BRICS Summit in Johannesburg and announced by Brazil, which holds the presidency of BRICS in 2025.

    What is BRICS?

    • BRICS represents a coalition of nations committed to fostering economic growth, development cooperation, and global governance reform.
    • BRICS focuses on collaboration across 3 key pillars:
    1. Political and Security Cooperation: Ensuring peace, global stability, and governance reform.
    2. Economic and Financial Cooperation: Promoting trade, investment, and economic resilience.
    3. Cultural and People-to-People Cooperation: Enhancing mutual understanding and societal linkages.
    • Present Members of BRICS
      • Original Members: Brazil, Russia, India, China, and South Africa.
      • Recent Additions: Indonesia, Egypt, Ethiopia, Iran, and the UAE.

    Indonesia has officially joined BRICS (Brazil, Russia, India, China, South Africa) as a full member. This move was unanimously approved during the 2023 BRICS Summit in Johannesburg and announced by Brazil, which holds the presidency of BRICS in 2025.

    Evolution of BRICS:

    • 2001: The term “BRIC” was coined by Jim O’Neill, an economist at Goldman Sachs, in a report highlighting Brazil, Russia, India, and China as fast-growing economies.
    • 2006: BRIC leaders held their first meeting during the G8 Outreach Summit in St. Petersburg, Russia.
    • 2009: The first BRIC Summit was held in Yekaterinburg, Russia, to formalize the grouping.
    • 2010: South Africa joined, transforming BRIC into BRICS.
    • 2014 Fortaleza Declaration: The establishment of the New Development Bank (NDB) and Contingent Reserve Arrangement (CRA) marked significant steps toward financial collaboration.
    • Recent Expansion: In 2023 Egypt, Ethiopia, Iran, and the UAE joined, reflecting BRICS’ expanding influence in the Global South.
    • 2025: Indonesia officially joins.

    Significance of BRICS:

    • Economic Growth: Acts as a significant driver of global economic growth, contributing 24% of global GDP and over 16% of global trade.
    • Multipolar World Advocacy: Promotes a multipolar world order, challenging Western dominance in global governance.
    • South-South Cooperation: Strengthens collaboration among developing nations, addressing shared issues like poverty and climate change.
    • Alternative Financial Systems: Explores mechanisms like the New Development Bank (NDB) and Contingent Reserve Arrangement (CRA) to reduce reliance on Western financial institutions and the US dollar.

    Challenges Faced by BRICS:

    • Diverging Interests: Members have differing priorities, such as India-China tensions and varying stances on global issues.
    • Economic Disparities: Wide differences in economic size and capacity, with China dominating BRICS GDP.
    • Institutional Weakness: Absence of a formal structure and binding agreements limits the bloc’s effectiveness.
    • Geopolitical Pressures: External challenges like Western sanctions on Russia and US-China tensions test BRICS’ cohesion and neutrality.

    PYQ:

    [2014]  With reference to a grouping of countries known as BRICS, consider the following statements:

    1. The First Summit of BRICS was held in Rio de Janeiro in 2009.

    2. South Africa was the last to join the BRICS grouping.

    Which of the statements given above is / are correct?

    (a) 1 only

    (b) 2 only

    (c) Both 1 and 2

    (d) Neither 1 nor 2

  • WEF released Future of Jobs Report, 2025

    Why in the News?

    According to the World Economic Forum’s (WEF) Future of Jobs Report 2025, global macro trends, including technological advancements, demographic shifts, and the green transition, will create 170 million new jobs by 2030.

    About the Future of Jobs Report, 2025

    • It is based on insights gathered from over 1,000 leading global companies, collectively representing 14 million workers across 22 industry sectors and 55 economies worldwide.
    • It provides critical insights into emerging and declining job roles, skills trends, and the overall impact of global changes on the labour market.

    What are the key findings of the report?

    • The report projects 170 million new jobs globally by 2030, with a net increase of 78 million jobs after accounting for 92 million displaced roles.
    • Fast-growing roles include AI and machine learning specialists, big data experts, FinTech engineers, and farmworkers, driven by technological advancements and the green transition.
    • Clerical jobs like data entry clerks and cashiers are declining due to automation.
    • Employers anticipate 39% of skills will change by 2030, with growing demand for AI proficiency, creative thinking, and resilience.
    • Businesses are focusing on reskilling, with 85% investing in upskilling programs.
    • Collaboration among governments, academia, and industries is vital to bridge the skills gap and align with future job demands.

    About World Economic Forum (WEF):

    • The WEF is an international NGO for Public-Private Cooperation.
    • It was established in January 1971 by German engineer and economist Klaus Schwab.
    • Important reports published by WEF include: Global Competitiveness Report, Global Risks Report, Global Gender Gap Report, Global Social Mobility Report, Energy Transition Index, and Travel & Tourism Competitiveness Report, among others.

     

    PYQ:

    [2019] The Global Competitiveness Report is published by the:

    (a) International Monetary Fund

    (b) United Nations Conference on Trade and Development

    (c) World Economic Forum

    (d) World Bank

  • What is Net-Zero Banking Alliance (NZBA)?

    Why in the News?

    Several major US banks have recently withdrawn from the Net-Zero Banking Alliance (NZBA), raising concerns about the banking sector’s commitment to combating climate change.

    What is Net-Zero Banking Alliance (NZBA)?

    • Established as a bank-led, UN-convened initiative, the NZBA commits members to align their lending, investment, and capital market activities with achieving net-zero greenhouse gas (GHG) emissions by 2050.
    • It is a part of the UNEP Financial Initiative’s Principles for Responsible Banking, serving as a climate accelerator.
    • NZBA retains 142 members from 44 countries, with 80 European banks representing the majority of the alliance’s $64 trillion in assets.
    • No Indian banks are signatory to this NZBA.
    • Structural Mandate:
      • Overseen by a Steering Group representing diverse geographies and business models.
      • Supported by the UNEP FI Secretariat and governed under documents updated in August 2023 and March 2024.
    • Commitments of Member Banks:
      • Transition operational and portfolio emissions to align with net-zero pathways.
      • Set 2030 targets (or sooner) within 18 months of joining and establish intermediate targets every five years.
      • Publish annual reports on absolute emissions and emissions intensity.

    What is the Net-Zero Greenhouse Gas (GHG) Emissions Target by 2050?

    • Net-zero greenhouse gas (GHG) emissions by 2050 refer to achieving a balance between the amount of GHGs emitted into the atmosphere and the amount removed or offset by natural or technological means.
    • This target is critical for limiting global warming to 1.5°C above pre-industrial levels, as outlined in the Paris Agreement.

    About the Glasgow Financial Alliance for Net Zero (GFANZ)

    • The GFANZ is a global coalition of leading financial institutions committed to accelerating the transition to a net-zero economy and achieving net-zero GHG emissions by 2050.
    • It was established in April 2021 in the lead-up to the COP26 climate summit in Glasgow.
    • Membership comprises over 550 financial institutions across 50 countries.
      • Includes banks, insurers, asset managers, and other financial players managing a combined $150 trillion in assets.
    • It is chaired by Mark Carney, former Governor of the Bank of England and current UN Special Envoy for Climate Action and Finance.
    • It is supported by global initiatives like the UN Race to Zero campaign and other financial alliances.

    PYQ:

    [2016] The term ‘Intended Nationally Determined Contributions’ is sometimes seen in the news in the context of:

    (a) Pledges made by the European countries to rehabilitate refugees from the war-affected Middle East.

    (b) Plan of action outlined by the countries of the world to combat climate change.

    (c) Capital contributed by the member countries in the establishment of the Asian Infrastructure Investment Bank.

    (d) Plan of action outlined by the countries of the world regarding Sustainable Development Goals.