3rd UN Ocean Conference

For Prelims: UN Ocean Conference, Sustainable Development Goals (SDG), Oil Spills, Coral Bleaching, Biodiversity of Areas Beyond National Jurisdiction, Convention on Biological Diversity, Kunming-Montreal Global Biodiversity Framework, Coral Reefs, Dead Zones, Vadhavan Port, Mangrove, Ocean Currents, Marine Protected Areas (MPAs), Microbeads, Paris Agreement,  Seagrasses. 

For Mains: Key outcomes of the third UN Ocean Conference, challenges being faced by oceans and needs to safeguard them, Actions needed to promote ocean sustainability. 

Source: DTE 

Why in News? 

The 2025 UN Ocean Conference (UNOC3), held in Nice, France, adopted the declaration “Our Ocean, Our Future: United for Urgent Action”, reinforcing global commitments to Sustainable Development Goals (SDG) 14 (Life Below Water).  

• Indigenous leaders called for a binding plastics treaty ensuring justice for vulnerable communities, with 95 countries supporting regulation of plastics from production to disposal. 
• The declaration aims to tackle the triple planetary crisis of climate change, biodiversity loss, and pollution that threatens the world’s oceans. 

Triple Planetary Crisis 

• The Triple Planetary Crisis refers to the three interconnected global environmental threats i.e., climate change, biodiversity loss, and pollution & waste. 
  • Climate change is driven by greenhouse gas emissions, causing global warming, extreme weather, rising seas, and threats to food security and ecosystems. 
  • Biodiversity loss results from deforestation, pollution, habitat destruction, and overexploitation, leading to mass species extinction and weakened ecosystems. 
  • Pollution and waste — from plastics, chemicals, and air/water contamination — harm human health, marine life, and ecosystems, and contribute to climate and biodiversity crises. 
• These crises are deeply linked — climate change accelerates species loss, pollution worsens climate impacts, and degraded ecosystems reduce carbon absorption — requiring urgent, integrated global action. 

What is the United Nations Ocean Conference? 

• About: UNOC is a high-level global summit convened by the UN to accelerate action toward SDG 14 (Life Below Water), which aims to conserve and sustainably use oceans, seas, and marine resources. 
• Theme: Accelerating action and mobilizing all actors to conserve and sustainably use the ocean.     
• Purpose: It aims to address critical ocean challenges like climate change (ocean warming, acidification, sea-level rise), marine pollution (plastics, oil spills, chemical waste), overfishing and IUU (Illegal, Unreported, Unregulated) fishing, and biodiversity loss (coral bleaching, habitat destruction). 
  • The objectives of UNOC3 was to establish the "Nice Ocean Agreements" as an international pact aligned with the UN’s 2015 SDGs, and to advance the Agreement on Marine Biodiversity of Areas Beyond National Jurisdiction (BBNJ Agreement) by securing ratification from 60 countries to regulate the high seas. 
• Major Outcomes in Past:  
  • 2017 (New York): "Call for Action" declaration; focus on marine pollution and overfishing. 
  • 2022 (Lisbon): Renewed pledges for 30% marine protection by 2030 (30x30 target). 

What are the Key Outcomes of the Third UN Ocean Conference? 

• Strengthening Global Ocean Governance: The declaration urged the full implementation of key agreements, including the Convention on Biological Diversity, the Kunming-Montreal Global Biodiversity Framework, and the Agreement on Marine Biological Diversity of Areas Beyond National Jurisdiction (BBNJ). 
• Addressing Climate Change and Ocean Acidification: The declaration called for enhanced global action to minimize climate change impacts, including ocean acidification, and stressed the need to adapt to unavoidable climate effects while protecting marine ecosystems. 
  • The conference expressed concern over plastic pollution and its environmental harm, while reaffirming the commitment to prevent and reduce marine pollution of all kinds. 
• Sustainable Ocean-Based Economies: The declaration recognized the economic potential of sustainable ocean activities, particularly for small island developing states (SIDS) and least developed countries (LDCs), and highlighted tools like sustainable ocean plans for the effective management of ocean resources. 
• Indigenous Knowledge, and Ocean Mapping: The declaration emphasized that ocean action should be guided by scientific research, traditional knowledge, and the expertise of Indigenous Peoples.  
  • It also highlighted the importance of national ocean accounting and mapping marine ecosystems to support better policy making. 

Key Ocean Conservation Initiatives Announced at UNOC3  

• European Commission: Announced a 1 billion Euro investment to promote ocean conservation, advance marine science, and support sustainable fishing practices. 
• French Polynesia: Pledged to create the world’s largest marine protected area — covering its entire exclusive economic zone (5 million sq km) to safeguard marine biodiversity. 
• Spain: Announced the creation of five new marine protected areas, enhancing its network of safeguarded marine zones. 
• Indonesia & World Bank: Introduced a ‘Coral Bond’ — an innovative financial tool to fund reef conservation and restoration efforts in Indonesia. 
• High Ambition Coalition for a Quiet Ocean: A 37-country coalition led by Panama and Canada, focused on tackling underwater noise pollution to protect marine life. 

How the Triple Planetary Crisis is Harming Oceans and Marine Ecosystems? 

• Climate Change Impacts: Oceans absorb 90% of excess heat from global warming, causing thermal expansion, increased salinity, and disruption of marine ecosystems.  
  • They also absorb 23% of anthropogenic CO₂ emissions, making oceans 30% more acidic since pre-industrial times and harming shell-forming organisms and coral reefs.  
  • Warmer waters hold less oxygen, creating dead zones, while melting polar ice and glacier calving are rising sea levels, threatening coastal cities like Mumbai, Chennai, and Kolkata. 
• Coral Reef Destruction: Rising temperatures trigger coral bleaching, as corals expel symbiotic algae (zooxanthellae), turning white and often leading to mass die-offs.  
  • The 4^th Global Mass Bleaching Event (2023–2025) affected 84% of the world’s coral reefs across 82 countries, causing severe damage to marine biodiversity hotspots. 
• Overexploitation of Marine Resources: Overfishing has caused significant decline in key species e.g., a 75% drop in oil sardine catch along the Kerala coast in 2021, while projects like Vadhavan Port face criticism for displacing fishing communities and harming the marine ecosystem.  
  • Bottom trawling and plans to mine the ocean floor for metals threaten to destroy coral, sponge habitats, and undiscovered species, creating underwater dust clouds that could suffocate marine life over vast areas. 
• Plastic & Chemical Pollution: Millions of tons of plastic enter oceans each year, causing harm to marine life through ingestion and entanglement.  
  • Oil spills, ship accidents, and industrial runoff introduce toxic chemicals, as seen in the recent sinking of a Liberian-flagged vessel near the Kochi coast, threatening the region’s rich biodiversity and nearby communities, prompting the Kerala government to declare it a state disaster. 
• Habitat Destruction: Mangrove forests, vital coastal nurseries for fish, are being cleared for shrimp farms and resorts, while coastal development builds over turtle nesting beaches for hotels.   

What is the Need of Safeguarding Oceans? 

• Ecological & Biodiversity Significance: Phytoplankton, producing over 50% of Earth’s oxygen, and plankton form the foundation of marine food webs that sustain fish, marine mammals, and seabirds.  
  • Oceans, the largest ecosystem, support 94% of all life and nearly a million known species, with coral reefs and mangroves serving as vital biodiversity hotspots. E.g., Ocean currents create fertile fishing grounds (e.g., Newfoundland’s Grand Banks) by bringing nutrient-rich waters to the surface. 
• Climate Regulation: Oceans regulate global temperatures and play a key role in climate balance by absorbing and redistributing heat through currents like the Gulf Stream. 
  • They drive the hydrological cycle, influencing rainfall, monsoons, weather systems, and ensuring freshwater availability. Oceans also act as the world’s largest carbon sink, absorbing vast amounts of CO₂ to help mitigate climate change. 
• Economic & Livelihood Support: Over 3 billion people rely on seafood as a primary protein source, with fisheries and aquaculture supporting millions of jobs, while continental shelves hold vast reserves of oil and natural gas (e.g., Gulf of Mexico, Persian Gulf, Bombay High).  
  • Oceans are vital to the global economy, enabling 90% of trade through shipping routes and supporting multi-billion-dollar coastal tourism in regions like the Caribbean and Mediterranean. 
• Scientific & Medicinal Value: Marine organisms have contributed to medical breakthroughs, including anticancer compounds from coral and algae.  
  • Deep-sea exploration enhances understanding of Earth’s geology, climate history, and the potential for new resources. 

What Actions are Needed to Promote Ocean Sustainability? 

• For Governments & Policymakers:  
  • Expand Marine Protected Areas (MPAs): Expand MPAs to protect 30% of oceans by 2030 (30x30 target), as seen in the Galápagos Marine Reserve, where industrial fishing is banned to let wildlife thrive. 
  • Reduce Plastic Pollution: Finalize the draft Global Plastic Treaty to phase out single-use plastics, support ban on microbeads and non-recyclable plastics to stop plastic leakage into oceans.  
  • Fight Climate Change: Meet Paris Agreement goals to cut CO₂ emissions and promote blue carbon ecosystems like mangroves and seagrasses to limit ocean acidification. 
• For Businesses & Industries: 
  • Sustainable Fishing: Use selective fishing gear (e.g., turtle-safe nets), avoid overfished species like bluefin tuna and shark, and promote plant-based seafood alternatives (e.g., algae-based fish). 
  • Green Shipping & Tourism: Switch to low-sulfur fuels and electric port systems, along with adopting coral-safe sunscreen policies (e.g., banning oxybenzone). 
  • Circular Economy: Redesign packaging with innovations like edible seaweed wrappers and recycling fishing nets into clothing. 
• For Individuals: Choose sustainable seafood (e.g., Marine Stewardship Council labels), ditch single-use plastics (carry reusable bottles, bags, utensils), and join beach cleanups to stop trash from entering the ocean. 
• Indigenous & Local Knowledge: Learn from coastal communities by adopting traditional fishing methods like Palau’s bul system and Hawaii’s kapu system that protect fish stocks.  

Conclusion 

The 2025 UN Ocean Conference reinforced global commitment to protect oceans from climate change, pollution, and overexploitation. While policies like the BBNJ Agreement and 30x30 target offer hope, urgent, inclusive, and science-based action—from ending plastics to empowering Indigenous stewardship—is vital to safeguard marine ecosystems, ensuring biodiversity, climate stability, and livelihoods for present and future generations. 

Drishti Mains Question:

What are the major threats facing the world’s oceans today? Suggest measures to ensure ocean sustainability.

UPSC Civil Services Examination, Previous Year Question (PYQ) 

Mains

Q. What is oil pollution? What are its impacts on the marine ecosystem? In what way is oil pollution particularly harmful for a country like India? (2023)

Q. What are the consequences of spreading ‘Dead Zones’ on marine ecosystems? (2018). 

Reforming Civil Liability for Nuclear Damage Act, 2010

For Prelims: Civil Liability for Nuclear Damage Act, 2010 (CLNDA 2010), Convention on Supplementary Compensation (CSC, 1997), International Atomic Energy Agency (IAEA), Small Modular Reactors (SMRs), Atomic Energy Regulatory Board (AERB).                     

For Mains: Provisions, challenges and need to reform India’s Civil Liability for Nuclear Damage Act, 2010, Steps needed to reform CLNDA 2010. 

Source: TH

Why in News? 

India is considering easing Civil Liability for Nuclear Damage Act, 2010 (CLNDA 2010) to reduce accident-related penalties on suppliers, addressing foreign firms’ concerns over unlimited liability. The step aims to revive stalled nuclear projects and advance India’s clean energy targets.

What is Civil Liability for Nuclear Damage Act, 2010? 

• About: The Civil Liability for Nuclear Damage Act (CLNDA), 2010 is India’s nuclear liability law ensuring compensation for victims and defining responsibility for nuclear accidents. 
  • It aligns with the Convention on Supplementary Compensation (CSC, 1997), adopted post-Chernobyl to set global minimum compensation standards; India ratified CSC in 2016. 
    • It follows the nuclear liability principles of the Vienna Convention 1963, Paris Convention 1960, and Brussels Supplementary Convention 1963. 
  • The Act imposes strict, no-fault liability on operators, caps operator liability at Rs 1,500 crore.  
    • If damage claims exceed Rs 1,500 crore, the CLNDA expects the government to intervene.  
    • The government's liability is capped at the rupee equivalent of 300 million Special Drawing Rights (SDRs), roughly Rs 2,100 to Rs 2,300 crore. 
  • The Act also establishes a Nuclear Damage Claims Commission to ensure fair compensation and resolve conflicts. 
• Supplier Liability: India’s CLNDA is unique as it introduces supplier liability under Section 17(b), enabling operators to seek recourse against suppliers—unlike global frameworks like the CSC, which place liability solely on the operator. 
  • Unlike CSC, which allows recourse only for contractual breaches or intentional acts, CLNDA broadens supplier accountability to cases where a nuclear incident results from a supplier’s or their employee’s act, including the supply of defective equipment, materials, or sub-standard services.

What is the Convention on Supplementary Compensation for Nuclear Damage (CSC), 1997?  

• About: The Convention on Supplementary Compensation for Nuclear Damage (CSC) is an international treaty established in 1997 under the International Atomic Energy Agency (IAEA) to create a global liability regime for nuclear damage. 
  • It supplements existing national and international compensation mechanisms by providing additional funds in case of a major nuclear accident. 
• Eligibility for Membership: 
  • Primary Eligibility Criteria: The CSC is open to all IAEA member states and to countries that are parties to either the Vienna Convention on Civil Liability for Nuclear Damage (1963) or the Paris Convention on Third Party Liability in the Field of Nuclear Energy (1960). 
  • Special Case (Non-Party States): A country not party to the Vienna or Paris Conventions (e.g., India) can join the CSC if its national nuclear liability laws align with CSC principles and it declares compliance at the time of ratification. 
• India’s Participation in the CSC: India signed the CSC in 2010 based on its Civil Liability for Nuclear Damage (CLND) Act, 2010, and ratified it in 2016, becoming a State Party despite not being part of the Vienna or Paris Conventions.

What are the Key Concerns Regarding the Civil Liability for Nuclear Damage Act, 2010? 

• Supplier Liability Concerns: Foreign and domestic suppliers fear unlimited liability due to unclear insurance rules, ambiguous “nuclear damage” definition, and the risk of civil suits under Section 46 of CLNDA.  
  • While the government claims alignment with CSC, experts note that Section 17(b) still exposes suppliers to lawsuits for defective equipment or intentional acts, deepening liability concerns. 
• Deterring Foreign Investment in India’s Nuclear Sector: India’s nuclear liability laws were initially seen as an obstacle to the implementation of nuclear deals with countries like the United States.  
  • Critics argue that the liability clauses and restrictions may hinder foreign investments and collaborations in the nuclear energy sector, especially when compared to international frameworks like the Convention on Supplementary Compensation for Nuclear Damage (CSC), which has broader provisions. 
• Challenges to India’s Clean Energy Goals: The CLNDA 2010 liability clause has hurt investor confidence, created uncertainty, and slowed nuclear energy growth in India, crucial for the 500 GW non-fossil fuel target by 2030.  
  • With nuclear power contributing just 3% of total power, delays in projects like Jaitapur (9.6 GW) are hindering decarbonization efforts.

What Measures can be Adopted to Revamp Civil Liability for Nuclear Damage (CLND) Act, 2010? 

• Legislative Reforms: Amend Section 17(b) to limit supplier liability to cases of intentional wrongdoing or gross negligence, aligning it more closely with international norms. This would help alleviate concerns over unlimited liability and encourage foreign suppliers to participate in the nuclear sector. 
  • Also, amend the Atomic Energy Act to enable private sector participation, especially in Small Modular Reactors (SMRs). 
• Financial Safeguards:, and create an international insurance consortium to address supplier liability concerns. 
  • Additionally, explore alternative funding models like nuclear risk-sharing funds to reduce the burden on taxpayers. 
• Diplomatic & Bilateral Solutions: India could sign intergovernmental agreements (IGAs) with key partners (US, France, Japan) to clarify liability terms and set up a dispute resolution mechanism for cross-border claims, while using diplomatic assurances to revive stalled projects like Jaitapur and Kovvada. 
• Strengthening Regulatory & Safety Framework: Strengthen the role of independent regulatory bodies like the Atomic Energy Regulatory Board (AERB) to ensure rigorous oversight of nuclear safety, operations, and adherence to standards and mandate third-party safety audits for all nuclear plants to ensure stringent safety standards. 
  • Fast-track nuclear disaster response protocols to strengthen public confidence in nuclear energy. 
• Offer Financial Incentives to Encourage Investment: Provide tax incentives and subsidies for nuclear energy investments with risk mitigation measures to boost private participation and accelerate nuclear power growth in India. 
  • Consider introducing low-interest loans or grants for nuclear power projects to ensure that the costs of insurance and risk management don’t deter investments. 

Status of India's Nuclear Energy Sector:  

• As of May 2023, nuclear energy contributes 1.6% to India’s energy generation, with plans to grow from 7.5 GW to 100 GW by 2047, aiming to supply 25% of electricity by 2050.  
• Key developments like the Fast Breeder Reactor at Kalpakkam highlight India’s growing nuclear capabilities. The 2025-26 Budget allocates Rs 20,000 crore for Small Modular Reactors (SMRs), with five indigenously designed SMRs planned by 2033. 
  • India has 22 operational nuclear reactors, all run by NPCIL, with over a dozen new projects planned, but key ventures like Jaitapur (France’s EDF) and Kovvada (US firms) remain stalled due to liability concerns.

Conclusion

It is high time that India must reform the Civil Liability for Nuclear Damage (CLND) Act, 2010 to align with global nuclear liability norms, easing supplier concerns while ensuring victim compensation. By expanding insurance pools, and strengthening bilateral agreements, India can revive stalled projects, attract foreign investment, and advance its clean energy goals without compromising safety or accountability. 

Drishti Mains Question:

Examine the need to reform India’s Civil Liability for Nuclear Damage Act, 2010. How can India balance supplier liability concerns with its nuclear energy expansion goals?

 

UPSC Civil Services Examination, Previous Year Question (PYQ) 

Prelims

Q. Consider the following statements: (2017)

1. The Nuclear Security Summits are periodically held under the aegis of the United Nations. 
2. The International Panel on Fissile Materials is an organ of the International Atomic Energy Agency. 

Which of the statements given above is/are correct? 

(a) 1 only 

(b) 2 only 

(c) Both 1 and 2 

(d) Neither 1 nor 2 

Ans: (d) 

Q. In India, why are some nuclear reactors kept under “IAEA safeguards” while others are not? (2020)

(a) Some use uranium and others use thorium 

(b) Some use imported uranium and others use domestic supplies 

(c) Some are operated by foreign enterprises and others are operated by domestic enterprises 

(d) Some are State-owned and others are privately owned 

Ans: (b)  

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Mains 

Q. With growing energy needs should India keep on expanding its nuclear energy programme? Discuss the facts and fears associated with nuclear energy. (2018)

Q. Give an account of the growth and development of nuclear science and technology in India. What is the advantage of the fast breeder reactor programme in India? (2017)

India’s PM Historic Visit to Cyprus

Source: TH 

India’s Prime Minister’s visit to Cyprus — the first by an Indian Prime Minister in 23 years — marks a significant step in bolstering bilateral relations, with a focus on energy security, counterterrorism cooperation, and India-EU strategic alignment. 

• About Cyprus:  
  • Location: Cyprus is a Eurasian island country located in the northeast Mediterranean Sea at the crossroads of Europe, Asia, and Africa.  
  • It is the 3rd largest Mediterranean island after Sicily and Sardinia. 
  • Historical Background: Cyprus gained independence from Britain in 1960, but the 1974 Turkish invasion led to its partition into the Turkish-controlled north (recognized only by Turkey) and the Republic of Cyprus in the south. 
    • The UN patrols the Green Line, maintaining peace between the divided regions. 
  • Political Division: It is politically divided between the Republic of Cyprus (internationally recognized and an European Union (EU) member) and the Turkish Republic of Northern Cyprus. 
  • Geography: It has a Mediterranean climate with hot, dry summers and wet winters and rainfall critical for agriculture. 
• India-Cyprus Relation: India and Cyprus established diplomatic ties in 1962. India supports a bi-zonal, bi-communal federation for the Cyprus issue, in line with UNSC resolutions, and international law. 
  • Archbishop Makarios (Cyprus's first President) and Pandit Nehru were pioneers of the Non-Aligned Movement (NAM). 
  • Cyprus’s consistent support for India’s UNSC bid, NSG membership, and stance on Kashmir and terrorism makes India’s engagement with Cyprus a strategic counterbalance to growing Turkey-Pakistan military ties.

Read More: Cyprus as a Tax Haven 

50 Years of Crocodile Conservation Project and World Crocodile Day

Source: TH 

On World Crocodile Day (17th June), India commemorates 50 years of its Crocodile Conservation Project (CCP) (1975–2025), with Odisha emerging as the epicentre of this pioneering ecological effort. 

• Odisha is the only Indian state to host wild populations of all three native crocodilian species (Gharial (Gavialis gangeticus), Mugger crocodile (Crocodylus palustris) and Saltwater crocodile (Crocodylus porosus)). 
• Crocodile Conservation Project: India launched its CCP at Odisha’s Bhitarkanika National Park with support from United Nations Development Programme and the Food and Agriculture Organisation. 
  • It adopted the “rear and release” method, created protected habitats like Bhitarkanika and Satkosia Tiger Reserve, and promoted captive breeding and community awareness, making it a national model for crocodilian conservation. 
• Crocodiles: They are the largest surviving reptiles, primarily inhabit freshwater swamps, lakes, and rivers, with one saltwater species.  
  • They are nocturnal and poikilothermic (also known as ectotherms or cold-blooded animals, are characterized by their body temperature fluctuating with the surrounding environment). 
  • Their survival is threatened by habitat destruction, egg predation, poaching, dam construction, and sand mining. 
• Population: India hosts nearly 80% of the global wild gharial population, with around 3,000 individuals across sites like National Chambal Sanctuary, Katarnia Ghat, and Son Gharial Sanctuary.  
  • The saltwater crocodile population has recovered to about 2,500, mainly in Bhitarkanika, Andaman & Nicobar Islands, and the Sundarbans.  

Read more: World Crocodile Day 

Shipki La Pass

Source: TH 

Shipki La Pass (3,930m) in Himachal’s Kinnaur district, along the India-China border has been opened to domestic tourists to boost borderland economies, enhance strategic connectivity, and promote cultural tourism. 

Shipki La Pass 

• Shipki La is a motorable mountain pass which marks a boundary post on the Line of Actual Control (LAC) and is among India’s highest motorable passes. 
• The Sutlej River (Langqen Zangbo in Tibet) enters India through this pass, which historically served as a key Indo-Tibetan trade route.  
• The pass was earlier known as Pema La or Shared Gate and was renamed Shipki La by the Indo-Tibetan Border Police (ITBP) after 1962. 
• It has been a vital trade route since the 5th century, which ceased after the 1962 Sino-India War, post-Doklam standoff and Covid-19. 
• Shipki La facilitated India-Tibet trade, with imports like wool, livestock, yak products, religious items, and minerals, and exports of grains, spices, tobacco, timber, and metal tools. 

Mountain Passes 

• Passes are natural low points or gaps in mountain ranges that facilitate the movement of people, goods, and armies across otherwise difficult terrain. 
• They are formed by erosion, glaciation, or tectonic activity and serve as connectors between valleys or regions, historically enabling trade, migration, and military movement, with strategic, economic, and cultural significance. 

Read More: China and Bhutan Meet to Delimit Boundary 

NISHAD Designated as Global Rinderpest Holding Facility

Source: PIB 

ICAR-NIHSAD, Bhopal, has been designated a Category A Rinderpest Holding Facility by World Organisation for Animal Health (WOAH) and the Food and Agriculture Organization (FAO) , making India one of 6 countries globally entrusted with securely holding Rinderpest Virus-Containing Material. 

• Rinderpest: Rinderpest (cattle plague) was a highly contagious and deadly viral disease,  globally eradicated in 2011, that affected cattle, buffaloes, and some wild ruminants caused by the Rinderpest virus (a Morbillivirus related to measles).  
  • It spread via contact with infected secretions or contaminated feed/water. Symptoms included high fever, mouth ulcers, diarrhoea, and rapid death.  
  • It caused massive livestock losses across Africa, Asia, and Europe, leading to economic collapse and food insecurity. 
• The virus of this disease is still stored in a few high-security laboratories, and any accidental or intentional release could lead to its re-emergence.  
  • Therefore, FAO and WOAH strictly regulate the storage and handling of Rinderpest Virus-Containing Material (RVCM). 

NIHSAD (National Institute of High Security Animal Diseases) 

• NIHSAD is India’s premier Biosafety Level-3 (BSL-3) facility high-containment lab for research on exotic and emerging animal pathogens, disease diagnosis, and bio-containment of high-risk organisms. 
  • Established in 1984 as High Security Animal Disease Laboratory (HSADL) and later renamed, it serves as a reference lab for avian influenza, Newcastle disease, and other transboundary and zoonotic diseases under the One Health framework.  
• It functions under Indian Council of Agricultural Research (ICAR), Ministry of Agriculture & Farmers’ Welfare. 

Read More: Lumpy Skin Disease 

Electricity Derivatives

Source: BL 

The Securities and Exchange Board of India (SEBI) has approved the launch of electricity derivatives on Multi Commodity Exchange (MCX) to enhance electricity price risk management, and support the integration of renewable energy (RE). 

• Electricity derivatives are financial instruments that help Gencos, Discoms, and large industrial consumers hedge against fluctuations in power prices by trading on future electricity output. 
  • Electricity futures contracts, options, and swaps will enable players to hedge risks, ensure supply certainty, and improve demand forecasting—key for deploying energy storage systems (ESS). 
  • It will boost liquidity, allow participation by hedgers, speculators, and investors, and separate financial settlement from physical delivery—deepening the short-term power market. 
• The move supports India’s broader clean energy vision—over 50% (500 GW non-fossil fuel) of installed capacity from RE by 2030 and net-zero emissions by 2070, needing USD 250 billion investment annually till 2047.

Derivatives are contracts whose value depends on underlying assets or indicators such as currencies, stocks, or commodities, and include instruments like forwards, futures, and options. 

• A futures contract is a legal agreement obligating the buyer and seller to transact an asset at a predetermined price on a specific future date, regardless of market price at expiry. 
• An option gives the holder the right, but not the obligation, to buy (call) or sell (put) an asset at a specified price before or at a certain date, for a premium. 
• A swap is a private agreement to exchange cash flows or financial instruments over a specified period, e.g., interest rate, currency, or commodity/electricity swaps. 

Read More: Options Writing