Top News Highlights- 17 October 2024

Global Standards Symposium 2024 in New Delhi

• The 5th Global Standards Symposium GSS-24 came together in New Delhi, identifying international standards as the key enabler for global trade and innovation in technology.
• Bridging the gap: the discussions involved centering on the aspects of improving countries’ gaps, and developing sustainable development for emerging digital technologies.
• This symposium made a great end to noting the role of standards in achieving SDGs and recognized efforts like U4SSC.

New Consumer Protection Guidelines against Greenwashing

• Central Consumer Protection Authority issued guidelines against environmental misconstrued advertisement: it defined greenwashing with transparency requirements and discussed third-party certifications about compostability and recyclability in all green claims
• All such environmental claims needed to be supported with third-party certificates to build up on claims like compostability and recyclability.
• These steps would also ensure that all environmental claims are real and valid, hence promoting honest efforts towards a cleaner environment.

AI Risks in the Financial Sector Highlighted by RBI Governor

• RBI Governor outlined dangers posed by rising AI in finance and also the possible vulnerabilities to systemic risks and risks of turbulence in markets
• Some of the risks discussed at the conference were the concentration risk, algorithmic bias, and threats about data security.
• Some of the proposed measures include a complete regulation of AI and learning from the best practices globally that are being implemented in this regard along with a ‘Security by design’ approach.

Study on the Just Energy Transition in India

• This was a study report compiled by the environmental think-tank iForest, on the economic and social implications on account of transitioning from coal-based energy.
• The study reflects that India will be required to mobilize an enormous corpus for this transition, thereby pronouncing the vitalness of DMF and CSR funds.
• Recommendations require international financing as well as private investments to actually facilitate effective just transition measures.

Pathways out of the Polycrisis Report by the World Bank

• The World Bank report talks about how the post-pandemic slows the reduction of global poverty as well as grows the prosperity gap.
• It gives pathways toward more inclusive growth and climate resilience, suggesting that the ways of synergies of policies toward sustainable development must be made.
• Prioritized actions based on the economic status of countries have to be designed to organize both the poverty and prosperity gap beneficially.

AI Centres of Excellence Announced in India

• The Union Minister for Education announced three AI Centres of Excellence on topics such as Healthcare, Agriculture, and Sustainable Cities.
• The centers are meant to build a strong capacity for AI in India so that the start-up ecosystem flourishes based on the vision of “Make AI in India and Make AI work for India.”

Key Concepts and Policies:

• ITU Bridging the Standardization Gap Programme: It is a program that strives to bridge the gaps related to the different technological standards between various nations.
• Code on Social Security 2020: It includes gig workers in India’s national social security framework.
• e-Shram Portal: It is the national database of unorganized workers, further demonstrating the government’s penetration and support of the informal workforce.