Clean Economy Investor Forum
News: The Indo-Pacific Economic Framework for Prosperity (IPEF) will host its first clean economy investor forum in Singapore on June 5-6th
Clean Economy Investor Forum:
- It is one of the initiatives under the IPEF.
- It shall bring top investors, philanthropies, financial institutions, innovative companies, start-ups and entrepreneurs of the Indo-Pacific together.
- This Forum aims to mobilise investments into sustainable infrastructure, climate technology and renewable energy projects.
- This Forum is managed by Invest India, India’s National Investment Promotion Agency.
- The Forum will have opportunity for the Indian industry in the two tracks such as the Climate Tech Track and the Infrastructure Track.
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- Climate Tech Track: This track aims s to recognise the top climate tech companies and startups among the member countries including India and present them to global investors.
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- It focuses on recognizing leading enterprises in climate technology.
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- Infrastructure Track: This track highlights ready-to-invest sustainable projects in energy (solar, wind, hydrogen), transport (EVs, charging stations), and waste management, to be showcased at the 2024 Forum in India.
- Climate Tech Track: This track aims s to recognise the top climate tech companies and startups among the member countries including India and present them to global investors.
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Indo-Pacific Economic Framework for Prosperity (IPEF):
- The Indo-Pacific Economic Framework for Prosperity (IPEF) is an economic initiative launched by U.S. President Joe Biden on May 23, 2022.
Aim:
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- Provide a platform for countries in the region to collaborate on advancing resilient, sustainable, and inclusive economic growth.
- To contribute to cooperation, stability and prosperity in the region.
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14 Members: India, the US, Australia, Brunei Darussalam, Fiji, Indonesia, Japan, the Republic of Korea, Malaysia, New Zealand, Philippines, Singapore, Thailand, and Vietnam.
Pillars of IPEF:
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- Trade
- Supply chain resilience
- Clean economy
- Fair economy (tax and anti-corruption).
Nodal Agency: The Department of Commerce is the nodal agency for the IPEF engagements.
India: So far, India has agreed to three pillars relating to supply chains: tax, anti-corruption and clean energy but has chosen to opt out from joining the trade pillar of IPEF.
International Narcotics Control Board (INCB)
News: Jagjit Pavadia of India was re-elected to the International Narcotics Control Board (INCB).
Definition: It is the independent and quasi-judicial monitoring body for the implementation of the United Nations international drug control conventions.
Members:
- INCB has 13 members, each elected by the Economic and Social Council for a period of five years.
- INCB members may be re-elected.
- 10 members are elected from a list of persons nominated by Governments.
- The other 3 are elected from persons nominated by the World Health Organization (WHO) for their medical, pharmacological or pharmaceutical experience.
Aim:
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- Ensures adequate supplies of drugs for medical and scientific uses.
- Ensures that drugs are not diverted from a legal source to illegal ones.
- Monitors Governments’ control over chemicals used in the illicit manufacture of drugs and assists them in preventing the diversion of those chemicals into illicit traffic.
