Union Cabinet approved ratification of ISA Framework Agreement
Posted on:28 Dec 2016 17:56:25
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28 December 2016 Current Affairs: The Union Cabinet gave its ex-post facto approval for ratification of ISA’s Framework Agreement of International Solar Alliance (ISA) by India.
The approval was given at a meeting of the cabinet chaired by Prime Minister Narendra Modi in New Delhi.
International Solar Alliance : It is an alliance of 121 nations that are primarily situated between Tropic of Cancer and Tropic of Capricorn launched on 30 November 2015.
The International Solar Alliance (ISA) was jointly launched by Indian Prime Minister Narendra Modi and France President Francois Hollande in Paris on the sidelines of the Conference of Parties 21 (CoP21) of the United Nations climate change conference (UNFCCC).
It is considered as first international and inter-governmental organization mooted by India.
Functions of International Solar Alliance : It tries to improve living standards by facilitating greater access to energy.
The ISA works with partner countries to formulate projects and programmes to accelerate development and deployment of existing clean solar energy technologies.It also develops innovative financial mechanisms to reduce cost of capital. It is also instrumental in spreading knowledge about solar energy through knowledge e-portal.
It facilitates capacity building for promotion and absorption of solar technologies and research and development activities among member countries.
It encourages multilateral bodies like the International Renewable Energy Agency (IRENA), the International Energy Agency (IEA) and agencies of the United Nations to contribute towards enhanced use of solar energy.
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