PIB Summary- 15th February, 2024 | Current Affairs & Hindu Analysis: Daily, Weekly & Monthly - UPSC PDF Download

International Energy Agency

Why in News?
Recently the Prime Minister of India addressed then International Energy Agency’s Ministerial Meeting.

• The agency celebrated 50th anniversary of its establishment on 14th February 2024.
• The meeting underlined the need for energy security and sustainability for sustained growth.

About the International Energy Agency (IEA)

• The International Energy Agency (IEA) is an autonomous Intergovernmental Organisation established in 1974 in Paris, France.
• IEA mainly focuses on its energy policies which include economic development, energy security and environmental protection. These policies are also known as the 3 E’s of IEA.
• It is best known for the publication of its annual World Energy Outlook.

IEA’s Role and Functions

• IEA’s role has expanded to cover the entire global energy system, encompassing traditional energy sources such as oil, gas, and coal as well as cleaner and faster growing ones such as solar PV, wind power and biofuels.
• IEA acts as a policy adviser to its member states, as well as major emerging economies such as Brazil, China, India, Indonesia and South Africa to support energy security and advance the clean energy transition worldwide.
• IEA’s mandate has broadened to focus on providing analysis, data, policy recommendations and solutions to help countries ensure secure, affordable and sustainable energy for all. In particular, it has focused on supporting global efforts to accelerate the clean energy transition and mitigate climate change.
• The IEA has a broad role in promoting rational energy policies and multinational energy technology co-operation with a view to reaching net zero emissions.
• IEA Clean Coal Centre is dedicated to providing independent information and analysis on how coal can become a cleaner source of energy, compatible with the UN Sustainable Development Goals.

Membership of IEA

• The IEA is made up of 30 member countries. Only OECD member states can become members of the IEA.
• IEA member countries are required to maintain total oil stock levels equivalent to at least 90 days of the previous year’s net imports.
• In 2018, Mexico joined the IEA and became its 30th member.
• India became an Associate member of IEA (NOT full membership) in 2017 but it was in engagement with IEA long before its association with the organization.
• Other Association Countries of IEA apart from India are: Brazil, China, Indonesia, Morocco, Singapore, South Africa and Thailand.

HLC on One Nation One Election

Why in News?

• The High Level Committee on One Nation One Election, and its members  interacted with some leading economists of the country.
• A paper titled, “Macroeconomic Impact of Harmonizing Electoral Cycles” was presented to the committee.
• The paper brought out that, apart from the expenses, there are wider economic ramifications in addition to repetitive expenses, which entailed issues of GDP growth, investment, expanded public expenditure, fiscal deficit, education, health outcomes, and law and order, besides uncertainty in the minds of investors and other societal stakeholders.
• The HLC decided to have a wider discussion on the paper.

About One Nation, One Election:

• The fundamental concept behind One Nation, One Election is to coordinate the timing of Lok Sabha and State Assembly elections across all states, aiming to reduce the frequency of polls throughout the country.
• This practice was in effect until 1967 but was disrupted due to various factors such as defections, dismissals, and government dissolutions.
• The continuity of synchronized elections was first disrupted in 1959 when the Centre utilized Article 356 to dismiss the government in Kerala at that time.
• Following this, due to defections and counter-defections among parties, several Legislative Assemblies dissolved after 1960, leading to separate elections for Lok Sabha and State Assemblies.
• The proposal for conducting simultaneous elections was initially put forward in 1999 by the Law Commission, chaired by BP Jeevan Reddy.