BRICS – OVERVIEW
BRICS is the acronyms of five emerging economies of the world, Brazil, Russia, India, China, S Africa. BRICS nations are all leading developing industrialising countries. These are the fastest growing nations which also influence their regional affairs. These nations are also the members of G20 group. BRICS brings together five major emerging economies, comprising 43% of the world population, having 30% of the world GDP and 17% share in the world trade.
B – Brazil
R – Russia
I – India
C – China
S – South Africa
The term “BRICS” was first coined in 2001 by chairman of Goldman Sachs Asset Management,
The BRICS forum an independent international organisation encouraging commercial, political and cultural cooperation between the BRICS nations, was formed in 2011.
In June 2012 BRICS pledge 75 million $ to boost lending power of IMF.
In March 2013 During BRICS summit in Durban, member countries agreed to create global financial institution as rival against IMF & WB which are western dominated.
In 2014 creation of New Development Bank was started. New Development Bank formally inaugurated its business in 7th BRICS summit held in Ufa, Russia, which was also attended by Finance Ministers of members countries. Initial collective investment in bank is 50$ billion and a ‘Contingency Reserve Fund’ was formed with 100 Billion $ capital. The contribution in bank is equal by all member countries, China being major contributor to CRF(Contingency Reserve Fund). Bank’s Headquarter is in Shanghai and its first president (for 6 years) will be ex-ICICI Bank chief K.V. Kamath. It is significant development for world economy. Bank’s main focus will be on member countries, yet it will be accessible to other countries as well. Summit also offered some help to Greece.
BRICS 2016 INDIA GOA
- India hosted 8th annual summit of BRICS on 16-18 oct 2016.
- India’s core theme is to build Responsive, Collective, Inclusive solution for grouping.
- India’s emphasis on Institution building, Implementation of previous commitment following from past summit & exploring synergies among existing mechanism.
- The logo of the summit is a Lotus with colours of all members countries and traditional Namaste in centre.
- Fast track setting up of BRICS Rating agency.
- The declaration urge the dismantling of terror bases & nation should adopt comprehensive approach that include tackling radicalisation, recruitment, cutting off terror funding systems and address terrorism on the internet and social media the declaration also mention Al Qaeda, ISIS.
- They called for holistic approach and said that all counter terrorism measure should uphold the “International Law” & Respect “Human Rights”
- The declaration also hold the need for adaptation of comprehensive convention on international terrorism (CCIT) in the UN general assembly and urgent need to reform UN, And to increase the representation of developing country.
- It also try to solve international problem on basic of collective efforts for peaceful settlement of dispute through political and diplomatic means.
- The declaration also include unilateral military intervention & economic sanction in violation of international law & universal recognised norms of international relations.
- Problems of Middle East and North Africa were also concern.
- BRICS U17 football tournament was held in Goa among BRICS members. Brazil won the tournament by 5-1 playing against SouthAfrica in finals.
- (i) Institution building to further deepen, sustain and institutionalise BRICS cooperation;
- (ii) Implementation of the decisions from previous Summits;
- (iii) Integrating the existing cooperation mechanisms;
- (iv) Innovation, i.e. new cooperation mechanisms;
- (v) Continuity i.e. continuity of mutually agreed existing BRICS cooperation mechanisms.
- In short, the Indian approach towards its BRICS Chairmanship could be captured by ‘IIC(Impact Investor Council) or I4C’.
- The focus during India’s BRICS Chairmanship was on enhanced people-to-people (P2P) contacts of BRICS member states, especially youth. In this context, India has planned activities like Youth Summit, Young Diplomats’ Forum, Film Festival etc.
KEY INITIATIVES DURING INDIA’S BRICS CHAIRMANSHIP.
- BRICS Agriculture Research Platform.
- BRICS Railway Research Network.
- BRICS Sports Council.
- BRICS Rating Agency.
- BRICS Institute for Economic Research and Analysis.
- MoU on Environmental Cooperation.
- Regulations on BRICS Customs Cooperation Committee.
- MoU on Cooperation between Diplomatic Academies of BRICS Countries.
- MoU on Cooperation among BRICS Development Banks and the NDB.
10.BRICS Women Parliamentarians’ Forum.
11.BRICS Under-17 Football Tournament.
12.BRICS Trade Fair.
13.BRICS Film Festival.
14.BRICS Convention on Tourism.
15.BRICS Digital Conclave.
16.BRICS Wellness Forum.
17.BRICS Friendship Cities Conclave.
18.BRICS Smart Cities Workshop.
19.3rd BRICS Urbanisation Forum.
20.BRICS Local Bodies Conference.
21.BRICS Handicraft Artisans’ Exchange Programme.
22.BRICS Young Scientist Conclave.
23.BRICS Innovative Idea Prize for Young Scientists.
24.BRICS Economic Research Award.
Source: The Financial Express/The Hindu/Indian Express/PIB
Compiled by: SuperProfs Acads Team.
Paris Climate Change agreement
What is paris agreement ?
Paris agreement is convention within united nation convention of climate change (UNFCCC) dealing with Greenhouse Gases emission, adaptation, mitigation. The agreement was negotiated by almost 195 countries at paris 21 climate change conference by UNFCCC. It bring about all nation under common goal of undertaking the ambitious project of climate change to adopt its effect.
The paris agreement aim to respond to threat of climate change by controlling the temperature by rising above 2degree celsius for this century or 1.5 degree celsius as of pre industrial level.
Aim of paris agreement
- To strengthen the country to deal with impact of climate change.
- To increase the ability to adapt the adverse impact of climate change.
- To low greenhouse gas emission in a manner that do not threaten food production.
- To make finance available to poor & developing country to fight climate change & to reduce greenhouse gases.
- To enhance transparency of action on framework.
- Nationally determined contribution (NDC)
- The agreement also strengthen the country to deal with impact of climate change. To reach ambitious goal, appropriate financial flow, to bring new technology for fighting climate change thus supporting the vulnerable, poor, and developing country iin the line of their own national objective.
- The agreement will enter into force 30 days after when 55 country or country emitting almost 55% of global emission had deposit their instrument of ratification.
Adaptation. (article 7)
All measures taken by countries to reduce the impact of climate change (rise in sea level, droughts, etc.), including for example building seawalls along the coast.
Mitigation (article 4)
All measures and policies introduced to reduce greenhouse gas emissions. This includes, for example, promoting the development of renewable energy sources and supporting low-emission transport.
Differentiation (article 2)
The notion of “common but differentiated responsibility and respective capabilities” (CBDR-RC) is a principle of the Framework Convention, and structures the collective effort to combat climate change by distinguishing between countries based on their historic responsibility and their capabilities.
Each Party to the UNFCCC was asked to publish its Nationally Determined Contributions (NDC), formerly known as Intended Nationally Determined Contributions (INDC), to present its greenhouse gas emissions reduction measures up to 2025 or 2030. 189 countries published their action plans, which will be evaluated during a first global stocktake in 2023. In the meantime, they will be enhanced through the five-year review mechanism to increase the ambition of contributions.
The Ad Hoc Working Group on the Durban Platform for Enhanced Action (ADP) was established during COP17 in 2011 and brought together the 196 Parties to the UNFCCC. It was responsible, under the Framework Convention, for producing a new “protocol, another legal instrument or an agreed outcome with legal force”. This agreement was adopted in 2015 and will take effect in 2020. That was the challenge of COP21. It thus finished its work during COP21.
- INDIA & PARIS AGREEMENT
India the third largest emitter of global greenhouse gases agreed to fight the global climate change.
India had given it ratification of paris agreement which was signed earlier by India.
According to this India and other country will try to reduce their emission and try to control the global temperature rising by 2degree celsius of preindustrial era.
Six changes after Paris climate deal: How the new global pact could affect your life in India.
- Solar and wind energy
- photovoltaic cell and wind mill will become a regular sighting in India for fighting against climate change.
- India had planned to make almost 100 GW of energy through solar photovoltaic cell by 2022 of which 40 GW will be of individual roof top system and 60 GW by windmill by 2022
- Home appliances
- Proper use of home appliance with greater use of energy in fulfilling India main commitments under Paris Agreement. As India had promised to reduce the emission of greenhouse gas by 33-35 % by 2030 as compared to 2005 levels. Electrical appliances like air conditioners, refrigerators, television etc.
- Private & public transport
- Development of electric cars(Tesla), bike (Tork), public transports (e rickshaws), now stricter fuel efficiency norms will be placed like adding ethanol to fuel, developing more and more metros in all major cities etc.
- More trees
- India had made promise to create more carbon sink to absorb more and more carbon dioxide from atmosphere and to absorb almost of 2.5 to 3 billion tonne of carbon from environment with help of planting more trees by 2030. The CAMPA (Compensatory Afforestation Fund Management and Planning Authority) bill passed by govt to make up for forest destroyed for any reason for Green India Mission under it.
- Smarter buildings
- According to this the construction and infrastructure that India is willing to by 2030 will be of “smart” and “net zero” which are new buzzwords for construction. Eg new building of union environment ministry. It was constructed to be net zero, ie., the total amount of energy used on an annual basis is roughly equal to the amount of renewable energy created on the site.
- There will also be green parameters for green buildings, the Green Rating for Integrated Habitat Assessment (GRIHA), endorsed by the Ministry of New & Renewable Energy.
- Leadership in Energy and Environmental Design (LEED), a third-party certification programme, which is one of the most popular green building certification programs used worldwide are fairly well established.
- There is lot of uncertainties of water availability for most of the country in north african region and middle east and even many parts of India. Climate change is additional stress.
- Industries will be mandated to use only treated water.
The difference between signing and ratification
A number of steps need to be taken before a treaty enters into force. The states involved first conduct negotiations. Once they reach agreement, the treaty is signed.
Source: The Financial Express/The Hindu/Indian Express/PIB
Compiled by: SuperProfs Acads Team