Current Affairs - International

The 45th Scientific Assembly of the Committee on Space Research (COSPAR) was hosted in Busan, South Korea. This marked the first time South Korea hosted this global space research conference, which drew 3,000 participants from 60 nations. The event showcased South Korea's commitment to space exploration, with plans for ambitious projects and fostering international cooperation in space research. Distinguished attendees included leaders from major space agencies, emphasizing the global interest and collaboration in the field.

SYNCHN 2024 was a significant industry meet hosted by India, organized by the Translational Health Science and Technology Institute under the Biotechnology Research and Innovation Council, Department of Biotechnology. The objective of the meeting was to strengthen collaborations between academia and industry to advance biomanufacturing and bio-innovation. The event featured focused discussions and one-on-one interactions between industry representatives, with Prof. Vinod K. Paul, a Member of NITI Aayog, serving as the chief guest.

The Philippines has been chosen to host the "Loss and Damage" fund board, a key initiative designed to aid countries affected by climate change. This decision is significant as the World Bank will temporarily oversee the fund for the next four years. Despite some concerns regarding the influence of funding countries, particularly the U.S., this move highlights the Philippines' critical role in global climate change mitigation efforts. The fund's administration will be conducted under the overarching guidance of the UNFCCC, headquartered in Bonn, Germany since 1996.

The World Bank's Board of Executive Directors approved $1.5 billion in financing on June 28 to help India accelerate the development of low-carbon energy. This funding aims to promote green hydrogen, scale up renewable energy, and stimulate finance for low-carbon investments. This operation is part of a series to support reforms and initiatives to reduce carbon emissions and boost renewable energy integration in India, including incentives for battery energy storage and amendments to the Indian Electricity Grid Code.

India has approved the signing of the High Seas Biodiversity Agreement, which aims to promote the sustainable use and protection of marine biological diversity in areas beyond national jurisdiction, commonly referred to as the 'High Seas'. Led by the Ministry of Earth Sciences, India's decision underscores its commitment to international efforts under the UN Convention on the Law of the Sea (UNCLOS) to safeguard marine biodiversity and ensure responsible ocean governance.