The Hindu Editorial Analysis : 4th December 2023

The Hindu Editorial Analysis

The Importance of Reading The Hindu Editorial: Reading The Hindu newspaper has several benefits, including improving reading skills, facilitating comprehension, staying informed of current events, enhancing essay writing, and more. For individuals aiming for a career in banking, reading editorials is crucial for vocabulary building. In this article, we will examine today’s editorials, provide practice questions, and highlight important vocabulary words.

‘Loss and damage fund’ by COP28

• For the year 2023, COP28 climate talks are being hosted by the UAE.
• Representatives of the member states have given their mutual acceptance to set up a fund called “loss & damage (L&D) fund”; which was announced at the end of COP27 talks held in Egypt last year.
• The L&D fund is a corpus of money & technologies that will be built up by developed countries and used by the rest to tackle the unavoidable effects of climate change.
• 4 meetings of the Transitional Committee (TC) were held to decide how funds money would be used but due to issues in TC-4 meetings, ad hoc TC-5 meeting held recently during COP28 to find out a way to operationalise newly launched funds.
• For the 1st four years the fund will be organized by the World Bank, an Independent Secretariat will be appointed to oversee the fund. It is expected that the World Bank might charge a nominal overhead fee.
• Some countries have given their approval amounts to the fund from $10 million by Japan to $100 million by Germany & the UAE, but the periodicity of the fund is not clear.
• The amount committed by the countries is also insufficient totalling $450 million for now in comparison to the actual demand of several billion dollars
• This fund especially aims to help those vulnerable countries which have their place in the developing countries list and are still struggling to tackle the challenges of climate change.
• Many important aspects of this fund are still not clear and there are many things which have to be done in the upcoming time frame.

Practice Questions:

1. What is the loss and damage fund announced in COP28?
2. Describe the main aim behind the formation of the loss and damage fund.

Important vocab:

1. Corpus: a collection of written text, main body of a subject
2. Overseen: supervise
3. Yielding: complying with the request
4. Concessions: a thing that is granted in response to a demand
5. Replenished: filled up again
6. Shortfall:  A deficit of something

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