Ans: A

Exp:

The voluntary biodiversity credit market, a mechanism where private companies fund biodiversity conservation and restoration projects, has been touted as a potential game-changer. However, a new review study casts a shadow of doubt on its effectiveness in its current state, noting substantial methodological and regulatory gaps .

• The study was published in the journal Proceedings of the Royal Society B, highlighted “deep uncertainties” within the market and questioned whether its benefits truly outweigh the potential harms.

• Statement 1 is correct: Bio-credits are financial instruments proposed to support the targets outlined in the Kunming-Montreal Global Biodiversity Framework. 
  • The 2022 Kunming-Montreal Global Biodiversity Framework under the Convention on Biological Diversity also calls for innovative financing mechanisms like payment for ecosystem services, green bonds, biodiversity offsets and credits, benefit-sharing mechanisms, with environmental and social safeguards, aiming to mobilise $200 billion annually by 2030. 
• Statement 2 is incorrect: The Biodiversity Credit Alliance was launched in COP15 of Convention on Biological Diversity (CBD), 2022, Montreal, Canada to promote bio credits. 

Similar to carbon credits, bio-credits aim to generate funds for biodiversity protection and restoration by selling credits, with proceeds directed toward conservation projects.

Ans: D

Exp:

The Department of Consumer Affairs will  launch “Jago Grahak Jago App”, “Jagriti App” and “Jagriti Dashboard” for public use on National Consumers Day 2024 i.e. 24th December, 2024.

• The “Jagriti App”: It allows users to report URLs where they suspect the presence of one or more dark patterns declared illegal. These reports are then registered as complaints to the Central Consumer Protection Authority (CCPA) for possible redressal and subsequent action. 

• • Statement 1 is correct: Dark patterns are deceptive design techniques used in apps and websites to manipulate user behaviour and encourage unwanted actions. 
  • Statement 2 is correct: This  term was coined by Harry Brignull.

• Types of dark patterns identified the Consumer Affairs Ministry:

• False urgency: Creates a sense of urgency or scarcity to pressure consumers into making a purchase or taking an action;
• Basket sneaking: Dark patterns are used to add additional products or services to the shopping cart without the user’s consent;
• Confirm shaming: Uses guilt to make consumers adhere; criticises or attacks consumers for not conforming to a particular belief or viewpoint;
• Forced action: Pushes consumers into taking an action they may not want to take, such as signing up for a service in order to access content;
• Nagging: Persistent criticism, complaints, and requests for action.

Ans: A

Exp:

Recently, the Indian rupee exchange rate against the US dollar has breached the 85 mark. In April, this “exchange rate” was around 83 and a decade ago, it was around 61.

• • Statement 1 is incorrect: NEER is the weighted average of bilateral nominal exchange rates of the home currency in terms of foreign currencies. An increase in Nominal Effective Exchange Rate (NEER) indicates the appreciation of rupee.
  • Statement 2 is incorrect: REER is the weighted average of nominal exchange rates adjusted for relative price differential between the domestic and foreign countries.
    • An increase in a nation’s REER is an indication that its exports are becoming more expensive and its imports are becoming cheaper. Means, it is losing its trade competitiveness.

• Statement 3 is correct: A real effective exchange rate (REER) is the NEER adjusted by relative prices or costs, typically captured in inflation differentials between the home economy and trading partners. A nation’s nominal effective exchange rate (NEER) when adjusted for inflation in the home country, equals its real effective exchange rate (REER). 

• Higher the inflation higher will be divergence (difference between) NEER and REER.

Ans: C

Exp:

The Geneva-based World Trade Organization (WTO), which serves as a multilateral trade referee, is set to miss yet another crucial target of revitalising “a full and well-functioning dispute settlement system” by the end of 2024. 

• • It has been five years since the Appellate Body (AB), the second tier of the WTO’s two-tier dispute settlement system, has been non-operational due to the persistent blocking, by the United States, of the appointment of the Appellate Body members.
  • Statement 1 is correct: Formally, the WTO was established on January 1, 1995, under the 1994 Marrakesh Agreement.
  • Statement 2 is correct: The WTO is a successor to the General Agreement on Tariffs and Trade (GATT) of 1948, which was established in the wake of the Second World War.

• Statement 3 is correct: The World Trade Organization (WTO) is the only global international organization dealing with the rules of trade between nations.

• • Headquarters: Geneva, Switzerland

Ans: D

Exp:

A group of researchers from Pune have developed a novel hybrid aerogel capable of easily extracting gold from electronic waste. 

• The technique, if scaled-up, could potentially be useful in addressing e-waste management besides lowering the burden on the hazardous mining practices.

• Statement 1 is incorrect: Aerogels are among the lightest solid materials and are also known as  ‘Solid air’ or ‘Frozen smoke’.
• Created by combining → A polymer with a solvent → To form a gel → Then removing the liquid from the gel and replacing it with air.
• Statement 2 is incorrect: Properties → Aerogels are characterized by being extremely porous with very low density.
  • Excellent adsorbents and are incredibly lightweight solids composed mostly of air.
  • Most preferred in → Environment and oil spill clean up, for insulation purposes

Key facts about the newly developed Hybrid Aerogel:

• Aerogel’s unique structural composition was treated with iron nitrate salts and maintained at room temperature for about two to five minutes.
• This specially designed aerogel → Found to be effective in extracting and retrieving upto 99 per cent of gold ions from the e-waste.
• In daylight (Less)→ Hybrid aerogel could extract 1689mg/gram of e-waste and 2349mg / gram under blue light (More)
• As there were dual processes involved → that of adsorption and reduction — The quality of the recovered gold was reasonably pure thereby reducing the need for further purifying processes.