Daily Current Events – 11 June 2016


Scientists turn CO2 into rock to combat climate change:-

In a unique experiment, scientists turned carbon dioxide into a stone by pumping it with water underground. Carbon dioxide is a huge menace and probably the only way to fight it is to bury it as deep as possible.

In the experiment called CarbFix, scientists pumped CO2 and water 540 metre underground into volcanic rock at the Hellisheidi geothermal power plant in Iceland- the world’s largest geothermal facility. After two years, 95% of the gas was captured and converted.

In this method, CO2 is dissolved with water and the mixture is pumped into volcanic rocks called basalts. Once that happens, the CO2 turns into a solid mineral (calcite), which can then be stored.

The Iceland project has been increased in scale and is set to store 10,000 tons of CO2 a year.

Implications:

  • Carbon capture, however, can be expensive – especially the capturing part. Once the gas is grabbed from the air storing it is another issue.
  • It can be stored underground and is sometimes injected to depleted oil wells, but there are concerns about monitoring it and preventing it from escaping.
  • It’s not yet clear whether this approach could be viable on a large scale. The process requires a significant amount of water — 25 tons for every ton of CO2 — and some question whether it could be easily applied to other parts of the world.

Axis Bank launches India’s first certified green bond at London Stock Exchange

Axis Bank has raised $500 million at the London Stock Exchange after it launched India’s first internationally-listed certified green bond to finance climate change solutions around the world.

The proceeds of the bond will be invested in green energy, transportation and infrastructure projects, reinforcing India’s commitment to produce 175,000 MW of renewable power by 2022.

Green bonds :-They are like any other debt instrument but the funds raised from such a bond sale are used exclusively for renewable energy projects.With the Indian government and private sector increasingly focusing on renewable energy projects, the demand for such funds is expected to rise over time.


Government frames new policy for ads in print media

Ministry of Information & Broadcasting has framed a New Print Media Advertisement Policy for Directorate of Advertising & Visual Publicity (DAVP) with the objective to promote transparency and accountability in issuing of advertisements in print media.

The policy focuses on streamlining release of Government advertisements and to also promote equity and fairness among various categories of newspapers/periodicals.

Highlights of the policy:

  • For the first time, the policy introduces a new marking system to incentivise newspapers which have a better professional standing and get their circulation verified by Audit Bureau of Circulations (ABC) or Registrar of Newspapers for India (RNI).
  • The marking system is based on six objective criteria. The six parameters include circulation certified by the Audit Bureau of Circulation (ABC) or the Registrar of Newspapers in India (RNI) (25 marks), employee provident fund subscription (20), number of pages (20), subscription to news services of PTI, UNI or Hindustan Samachar (15).
  • Other criteria include a paper having its own printing press (10) and annual subscriptions to the Press Council of India (10).
  • Advertisements shall be released by DAVP to newspapers based on marks obtained by the publication.
  • The policy framework includes circulation verification for empanelment of newspapers and journals with DAVP. It involves certification by RNI or ABC if circulation exceeds 45,000 copies per publishing day and for circulation up to 45,000 copies per publishing day certificate from cost or chartered accountant, statutory auditor certificate or ABC is mandated.w
  • The policy also says that RNI circulation certificate , ill be valid for a period of two years from the date of issue and in case of ABCthe current certificate will be used.
  • The policy allows relaxations to encourage publications in regional languages, small and medium newspapers, mass circulated newspapers (over 1 lakh), papers in the Northeast, Jammu and Kashmir and the Andaman and Nicobar Islands.
  • To promote regional equity, the budget for all India release of ads shall be divided among states based on circulation of newspapers in each state or language.

 

 

 

 

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