ADB, EIB join Hands to Protect Oceans by Supporting Blue Economy
The Asian Development Bank (ADB) and the European Investment Bank (EIB) joined hands for Clean and Sustainable Ocean Partnership to achieve Sustainable Development Goals (SDGs) and the climate goals as advised in the Paris Agreement. In this regard, both entities will support the initiatives in Asia and the Pacific.They will also develop joint technical assistance programs and advisory support to help their partners in achieving SDGs of blue economy.Healthy oceans are a key priority of ADB’s Strategy 2030.
NSE Retains World’s Largest Derivatives Exchange Title for 2nd consecutive year in 2020: FIA
In accordance with the Futures Industry Association (FIA), National Stock Exchange of India Ltd (NSE) remained the world’s largest derivatives exchange for the second consecutive year in 2020 in terms of number of contracts traded. On the other hand, World Federation of Exchanges (WFE) has ranked it 4th in terms of cash equities by number of trades for calendar year 2020. In 2020, NSE launched a series of new products and services. In capital market segment it has listed T-bills (Treasury Bills) and SDLs (State Development Loans) facilitating investors to transact in these securities.
Bengaluru Emerges as World’s Fastest Growing Mature Tech Ecosystem: Report
Dealroom.co data analysed by London & Partners(the Mayor of London’s international trade and investment agency) has revealed that Bengaluru, Karnataka has emerged as the world’s fastest growing mature tech ecosystem, with investment in it increased 5.4 times from USD 1.3 billion in 2016 to USD 7.2 billion in 2020.The list is followed by London, Munich, Berlin, Paris. Mumbai, Maharashtra secures 6th place. Bengaluru secures 6th place in global top 10 for Venture Capital(VC) investment. This list is topped by Beijing and San Francisco, New York, Shanghai and London.
US officially re-joined Paris Climate Agreement
On 19th February 2021, the United States of America(USA) formally re-joined the Paris Climate agreement which was adopted by 196 countries in 2015. The new government of America under Joe Biden aims to strengthen the US’s 2030 emission reduction pledge under the pact by 22nd April 2021, Earth day.Gina McCarthy has been named as the head of a new National Climate Task Force.US is the biggest historical polluter and 2nd biggest current emitter after China.European Union nations and India are in 3rd and 4th position.
Global energy-related CO2 emissions fell by 5.8% in 2020 due to Pandemic : IEA
According to data released by the International Energy Agency (IEA), Global energy-related CO2 emissions declined by 5.8% or 2 Billion Tonnes in 2020 due to the Pandemic. It is the largest annual percentage decline since World War II. More than 50% of the total global drop in CO2 emissions in 2020 was due to the decline in CO2 emissions from oil use in the Transport & aviation sectors. The Primary energy demand also fell by nearly 4% in 2020.
Facebook & Google to set-up Underground Cables to connect USA with Southeast Asia
Facebook has partnered with Google & other regional telecom companies to connect the United States of America with Southeast Asian countries through undersea cables. These underground cables will improve internet connectivity in Singapore, Indonesia.At the initial stage, 2 undersea cables: Echo and Bifrost, will be connecting the US with Indonesia through a diverse sea route across the Java Sea in the Trans-pacific region. Facebook deploys 3000 Kms of fibre in Indonesia to develop public Wi-Fi hot spots.
New Zealand introduces World’s 1st Climate Change Law for Financial Sector
New Zealand becomes the 1st country in the world to introduce a Climate Change Law for regulating the Financial Sector. As per the new law, All banks, insurers, investment managers with total asset value greater than NZ$1 billion (USD 703 million) shall report the impacts of climate change on their investments to the government.The law will be passed by 2022 & Companies have to submit the report by 2023.
UK Became the First Country to Adopt Self-Driving Cars on Motorways
United Kingdom(UK) government became the first country in the globe to permit self-driving cars on motorways after the announcement of its plan on April 28, 2021, to regulate the use of self-driving vehicles at slow speeds on motorways. In order to make safe use of the self-driving vehicle system, the transport ministry of the UK was working on specific wording to update its country's highway code. By 2035, the UK forecasts to have 40 per cent of new cars with self-driving capabilities, in turn creating up to 38,000 new skilled jobs.