SNIPPETS 21 JANUARY 2026

Carbon Credit Trading Scheme: Origin: Notified by the Union Ministry of Power in 2023 under the Energy Conservation Act, 2001+ Mechanism: It operates on a ‘Cap and Trade’ model+ Union Ministry of Environment, Forest, and Climate Change has notified Greenhouse Gases Emission Intensity Target (Amendment) Rules, 2025 under the Environment (Protection) Act, 1986+ Expansion: Addition of four new sectors – Petroleum Refinery, Petrochemicals, Textiles, and Secondary Aluminium, to the list of obligated sectors to cut GHG emissions+ Reduction Goals: The overall emission intensity reduction targets range from 3% to 7% by 2026-27 (baseline: 2023-24)

Environmental Protection Fund: Statutory fund of the Government of India created to utilise penalties imposed for violations of environmental laws+ Provided for under the Environment (Protection) Act, 1986+ Strengthened by the Jan Vishwas Act, 2023, which decriminalised several environmental offences while retaining monetary penalties+ Administered by the Ministry of Environment, Forest and Climate Change (MoEFCC) or any body notified by the Central Government+ Penalties under the Air (Prevention and Control of Pollution) Act, 1981, the Environment (Protection) Act, 1986+ 75% of penalty proceeds transferred to the Consolidated Fund of the State/UT, 25% retained by the Centre

Employment and Social Trends 2026: Released by the International Labour Organization (ILO)+ estimating the global unemployment rate at 4.9% in 2025+Key Highlights: Stalled Progress on Employment Quality +The global informality rate increased by 0.3 percentage points (2015–2025)+ The pace of workers moving across economic sectors has halved globally over the last two decades+ The global unemployment rate remained at 4.9% in 2025 (forecast 186 million unemployed in 2026), with a jobs gap of 408 million

Board of Peace for Gaza: US-led intergovernmental body, established under UN Security Council (UNSC) Resolution 2803 (2025), to enact a comprehensive US peace plan for the reconstruction of Gaza+ Leadership & Structure: It is proposed to be chaired by US President+ Core Mandate: To provide strategic oversight and mobilize resources for Gaza’s demilitarization, reconstruction, economic recovery, and transitional governance until a stable administration is in place