Ramesh Singh Test: Sustainability and Climate Change: India and The World - 1 - UPSC MCQ

The term "green finance" typically refers to investing money in projects and efforts that support a more environmentally friendly economy. This can include initiatives that promote sustainable development, renewable energy, energy efficiency, and other environmentally conscious practices. Green finance plays a crucial role in addressing climate change and transitioning towards a more sustainable future.

1. SEBI Guidelines for Green Bonds: Approved in 2016 - Correct

• The Securities and Exchange Board of India (SEBI) did approve guidelines for green bonds in 2016 to ensure environmental standards in projects funded by these bonds.

2. Green Climate Fund (GCF): Created in 2014 - Incorrect

• The Green Climate Fund was established in 2010 by 194 countries under the UNFCCC, not in 2014.

3. Global Environment Facility (GEF): Established in 1992 - Correct

• The Global Environment Facility was indeed established just before the 1992 Rio Earth Summit to assist developing countries with urgent environmental challenges.

4. Initial Pledge for GCF: $7.1 billion - Incorrect

• The initial pledge for the Green Climate Fund was $10.3 billion, not $7.1 billion. The amount $7.1 billion refers to the GEF-7 replenishment for 2019-2023.

Thus, only two pairs are correctly matched.

1. Lifestyle for Environment: Correct. This is a movement initiated by India to encourage pro-people and pro-planet efforts to address climate change.

2. New Fund for Vulnerable Countries: Incorrect. The fund is intended to assist developing countries, not developed countries, that are vulnerable to the damaging effects of climate change.

3. Green Energy Corridor: Correct. This initiative is supported by the National Clean Energy Fund to enhance the transmission sector, making it more environmentally friendly.

4. Wind Power Pilot Project: Correct. This pilot project has been initiated to assess the potential of wind power as a renewable energy source.

Thus, three out of the four pairs are correctly matched.

1. The Sharm el-Sheikh Implementation Plan emphasized the need to double funds to help communities better handle the challenges posed by climate change.

- This statement is correct. One of the outcomes of COP 27 was a plan to double funds to assist communities in managing the challenges brought about by climate change.

2. COP 27 succeeded in meeting the $100 billion per year funding target for climate finance.

- This statement is incorrect. COP 27 acknowledged that the target of $100 billion per year for climate finance had not been achieved yet, and a new goal (NCQG) was to be established before 2025.

3. India initiated the National Clean Energy Fund (NCEF) in 2012-13 to support clean energy projects and research.

- This statement is incorrect. India started the National Clean Energy Fund (NCEF) in 2010-11, not in 2012-13, to support clean energy projects and research.

Thus, only statement 1 is correct.

Option A: 1 Only

- Statement 1 is correct. The SDG India Index is indeed a tool created by NITI Aayog to measure the progress of states and union territories in achieving the Sustainable Development Goals (SDGs).

- Statement 2 is correct. The SDG India Index assigns scores between 0 and 100. According to the Economic Survey 2021-22, India's performance improved from an overall score of 60 in 2019-20 to 66 in 2020-21.

- Statement 3 is incorrect. The SDG India Index is developed by NITI Aayog, not by the Ministry of Environment, Forest and Climate Change.

Thus, the correct answer is Option B: 1 and 2 Only.

1. Paris Agreement - 2015: Correctly matched. The Paris Agreement was adopted in 2015 during the 21st Conference of the Parties (COP21) of the United Nations Framework Convention on Climate Change (UNFCCC).

2. Sustainable Development Goals (SDGs) - 2005: Incorrectly matched. The SDGs were adopted in 2015 during the 17th session of the UN General Assembly, not in 2005.

3. Millennium Development Goals (MDGs) - 2000: Correctly matched. The MDGs were established following the Millennium Summit of the United Nations in 2000.

4. Rio+20 Conference - 2012: Correctly matched. The United Nations Conference on Sustainable Development, also known as Rio+20, took place in 2012 in Rio de Janeiro.

Thus, the correctly matched pairs are 1, 3, and 4.

Statement-I is accurate as it highlights India's proactive stance in integrating the SDGs into its policies and programs, as described in the provided content. However, Statement-II is incorrect. The COP 27 conference mentioned in the second statement actually took place in Sharm el-Sheikh, Egypt, from November 6 to 20, 2022, under the United Nations Framework Convention on Climate Change (UNFCCC), and does not directly relate to India's SDG initiatives, making Statement-II inaccurate.

1. The Green Climate Fund (GCF) was established in 2010 by 194 countries under the UNFCCC:
This statement is correct. The Green Climate Fund was indeed established in 2010 by 194 countries under the United Nations Framework Convention on Climate Change (UNFCCC) to support developing countries in their efforts to combat climate change by reducing greenhouse gas emissions and adapting to its impacts.

2. The Securities and Exchange Board of India (SEBI) approved guidelines for green bonds in 2016:
This statement is also correct. SEBI, the regulatory body for securities and commodity markets in India, approved guidelines for the issuance of green bonds in 2016 to ensure that funds raised through these bonds are used for environmentally friendly projects.

3. The Global Environment Facility (GEF) was created just before the 1992 Rio Earth Summit to help primarily developing countries tackle environmental challenges:
This statement is correct as well. The Global Environment Facility was established in 1991, just prior to the 1992 Rio Earth Summit, to address global environmental issues and assist primarily developing countries in managing these challenges.

Since all three statements are correct, the correct answer is:

Answer: Option D

- Statement 1: Correct. The Paris Agreement under the United Nations Framework Convention on Climate Change (UNECCC) was created to limit the rise in global temperatures and promote a low-carbon, resilient, and sustainable future. This aligns with the text provided, which mentions the goal of the Paris Agreement is to limit global temperature rise and promote sustainability.

- Statement 2: Correct. The Sustainable Development Goals (SDGs) indeed replaced the Millennium Development Goals (MDGs) and set the global development agenda for the next 15 years, as stated in the text.

- Statement 3: Incorrect. The SDGs were not introduced at the United Nations Conference on Sustainable Development (Rio 20) in June 2012; instead, they were introduced in September 2015 during the 17th session of the UN General Assembly. The Rio 20 conference initiated discussions that eventually led to the formulation of the SDGs.

Thus, only statements 1 and 2 are correct, making Option B the right answer.

The Green Climate Fund (GCF) was established in 2010 to support developing countries in reducing greenhouse gas emissions and adapting to the impacts of climate change. The fund aims to encourage a shift towards development that is both low in emissions and resilient to climate changes, especially focusing on countries highly vulnerable to these impacts.