Daily News Analysis

Global Carbon Project (GCP) Report

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The Global Carbon Project report for 2023 was released during the recent COP28 summit held in Dubai, UAE.

It is a Global Research Project of Future Earth and a research partner of the World Climate Research Programme.

  • Established in – 2001
  • It is prepared every year by a global consortium of scientists.

Aim – To develop a complete picture of the global carbon cycle, including both its biophysical and human dimensions together with the interactions and feedbacks between them.

Focus – On the global biogeochemical cycles which govern 3 greenhouse gases (GHGs) like carbon dioxide (CO2), methane (CH4), and nitrous oxide (N2O), including their natural and human drivers, and opportunities for low carbon pathways.

Significance – It produces Global Carbon Budget annually which provides an in-depth look at the amount of fossil fuels that nations around the world burn and where it ends up.

  • 2023 report – It projects fossil CO2 emissions of 36.8 billion tonnes in 2023, up 1.1% from 2022.
  • Global emissions from coal, oil and gas are all projected to increase with most steep increase from oil.
  • Atmospheric CO2 levels are projected to average 419.3 ppm in 2023, 51% above pre-industrial levels.

In India – CO2 emissions will cross 3 gigatons (gt) by the end of 2023, about 8% higher than the figure of 2022.

  • India’s per capita emissions is only about 1.9 tonnes (against a world average of almost 5 tons) and its cumulative emissions is only 3% (as against 25% for US) of the global emissions.

India’s Third National Communication (2023) Report

  • India’s total greenhouse gas emissions (GHGs) was 3.1 gt of CO2eq (2019).
  • Almost 76% of GHGs were emitted by the energy sector followed by agriculture and industrial process sectors.
  • About 92% of the CO2 emissions is from the energy sector.
  • Among energy sectors, power generation contributes about 39% in the total CO2 emissions followed by transport and iron and steel.

Bond Yield

According to Bank of Baroda Research, the yield on India’s benchmark 10-year government bonds is expected to stay soft (low) in July. This indicates stable or easing borrowing costs for the
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VWAP for Institutional Investors

In a move aimed at making trading more transparent and efficient for institutional investors and market participants, SEBI (Securities and Exchange Board of India) has mandated the issuance of a C
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Genome Sequencing

The recent sequencing of the oldest ancient Egyptian genome, dating back 4,500 to 4,800 years, is a groundbreaking achievement in the field of genomics. About the Genome: A genome is the com
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Financial Fraud Risk Indicator (FRI)

Recently, the Reserve Bank of India’s (RBI) directed all Scheduled Commercial Banks, Small Finance Banks, Payments Banks, and Co-operative Banks to integrate the Financial Fraud Risk Indicat
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Right to Privacy

The Madras High Court's judgment quashing the 2011 phone-tapping order issued by the Union Ministry of Home Affairs (MHA) marks a crucial turning point in the interpretation of the right to pr
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Central Adoption Resource Authority (CARA)

CARA clarified that digitally certified adoption orders sent via email are legally valid and hard copies are not mandatory for adoptive parents. This aims to simplify and speed up adoption procedu
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India–Ghana Relations

Prime Minister Narendra Modi arrived in Ghana as part of a five-nation tour, marking the first visit by an Indian PM in over 30 years.The visit reflects India’s commitment to deepening ties
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mud volcano

A mud volcano erupted in Wandan Township, southern Taiwan, in front of a temple.The eruption lasted nearly 10 hours, ejecting bubbling mud from 4 vents, reaching 2 meters (6.6 feet) high. About
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Agriculture Output Report

The agriculture sector in India is witnessing a significant transformation with a shift from traditional staple crops like cereals to high-value crops such as fruits, vegetables, spices, and anima
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India’s Import Curbs on Jute Products from Bangladesh

India has imposed immediate restrictions on the import of jute and allied fibre products from Bangladesh. These apply at all Indian land and seaports except Nhava Sheva in Maharash
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