QUIZ – 2020: Insights Current Affairs Quiz, 9 June 2020

Solution: c)

The National Green Tribunal’s order in the Visakhapatnam gas tragedy found LG Polymers prima facie liable under the 19th century English law principle of “strict liability”, which was made redundant in India by the Supreme Court in 1986. Lawyers say the term “absolute liability” should have been used instead.

Under the “strict liability principle”, a party is not liable and need not pay compensation if a hazardous substance escapes his premises by accident or by an “act of God’” among other circumstances.

Under the absolute liability principle, the apex court held that a company in a hazardous industry cannot claim any exemption. It has to mandatorily pay compensation, whether or not the disaster was caused by its negligence.  If any harm results on account of such activity, the enterprise must be absolutely liable to compensate for such harm irrespective of the fact that the enterprise had taken all reasonable care and that the harm occurred without any negligence on its part.

The principle of absolute liability is part of Article 21 (right to life).

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Solution: b)

Indian Renewable Energy Development Agency Limited (IREDA) is a Mini Ratna (Category – I) Government of India Enterprise under the administrative control of Ministry of New and Renewable Energy (MNRE). IREDA is a Public Limited Government Company established as a Non-Banking Financial Institution in 1987 engaged in promoting, developing and extending financial assistance for setting up projects relating to new and renewable sources of energy and energy efficiency/conservation with the motto: “ENERGY FOR EVER”

IREDA has been notified as a “Public Financial Institution” under section 4 ‘A’ of the Companies Act, 1956 and registered as Non-Banking Financial Company (NFBC) with Reserve Bank of India (RBI).

IREDA’s mission is “Be a pioneering, participant friendly and competitive institution for financing and promoting self-sustaining investment in energy generation from Renewable Sources, Energy Efficiency and Environmental Technologies for sustainable development.”

IREDA’s Motto is “Energy for Ever.”

The Union government has appointed Indian Renewable Energy Agency (Ireda) as the implementing agency for setting up solar power plants by Central Public Sector Undertakings (CPSU). The CPSU scheme, meant to promote domestic solar manufacturing, was being run by the Solar Energy Corporation of India (SECI).

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Solution: a)

The International Seabed Authority (ISA) is an autonomous international organization established under the 1982 United Nations Convention on the Law of the Sea (UNCLOS) and the 1994 Agreement relating to the Implementation of Part XI of the United Nations Convention on the Law of the Sea (1994 Agreement).

ISA is the organization through which States Parties to UNCLOS organize and control all mineral-resources-related activities in the Area for the benefit of mankind as a whole. In so doing, ISA has the mandate to ensure the effective protection of the marine environment from harmful effects that may arise from deep-seabed related activities.

ISA which has its headquarters in Kingston, Jamaica, came into existence on 16 November 1994, upon the entry into force of UNCLOS.

In accordance with article 156 (2) of UNCLOS, all States Parties to UNCLOS are ipso facto members of ISA. As of 1 May 2020, ISA has 168 members, including 167 member States and the European Union.

The Authority obtained its observer status to the United Nations in October 1996.

Solution: b)

The Economic Survey 2019-20 backed the government’s move to aggressively privatise central public sector enterprises (CPSEs) through divestment of government stake, which will have a multiplier effect on improving efficiency and profitability of the divested company while unlocking capital that can be used for building public infrastructure.
The Survey cited the case of Temasek Holdings Company in Singapore, a model which it said can be adopted for successful maximisation of government stake in CPSEs.
In the model, the government can transfer its stake in the listed CPSEs to a separate corporate entity which would be managed by an independent board and would be mandated to divest the government stake in these CPSEs over a period of time. “This will lend professionalism and autonomy to the disinvestment programme which, in turn, would improve the economic performance of the CPSEs,” the Survey said.

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Solution: d)

AOSIS is a coalition of 44 small island and low-lying coastal developing states, including five observers. As a voice for the vulnerable, its mandate is more than amplifying marginalised voices as it also advocates for these countries’ interests. In terms of size, AOSIS closely resembles the countries it represents on the global stage, but often punches far above its weight, negotiating historic global commitments to cut greenhouse gas emissions, among other achievements.

To achieve its goals, AOSIS often draws on partnerships, including with the United Nations Development Programme (UNDP) and the European Commission, to bolster its capacity to effectively influence climate negotiations, some of the most complex and difficult in the world. AOSIS also makes vital contributions by helping its members to pool their resources and amplify their collective voice in climate talks. This goes beyond just speaking up to securing ambitious agreements with tangible benefits for vulnerable communities.

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