Time Standard for Moon

In order to facilitate coordination of activities between various international organizations and private enterprises on the lunar surface, the United States formally instructed the National Aeronautics and Space Administration (NASA) to establish a lunar time standard.

Context:

• The White House Office of Science and Technology Policy (OSTP) head instructed the space agency to collaborate with other US government agencies to finalize the plan by the end of 2026 for establishing what it dubbed a Coordinated Lunar Time (LTC). This information was reported by Reuters.

Time Standard for Moon:

• Coordinated Universal Time (UTC), established by the International Bureau of Weights and Measures in Paris, France, is the basis for the majority of clocks and time zones.
• In essence, UTC is a globally accepted standard for world time.
• A weighted average of over 400 atomic clocks located throughout the world is used to track it.
• Any country located east of the Greenwich meridian must add to the UTC, and any country located west of the meridian must remove from it.
• Time on the Moon flows differently from Earthly time, hence UTC cannot be used to determine time there.

Why do we need a time standard for the Moon?

• On the moon, time flows differently and cannot be calculated with UTC.
• Time is not absolute, and on the Moon, it moves a little bit more quickly than it does on Earth. The general theory of relativity, which states that gravity bends space and time, is to blame.
• The Earth-based clock will appear to lose 58.7 microseconds on average every Earth day on the Moon, with extra periodic variances.
• Incorrect time standards can cause issues for spacecraft attempting to communicate, navigate, dock on the Moon, and relay data at a precise moment.
• The simultaneous operation of several spacecraft may provide challenges.
• For instance, China and India plan to send their own astronauts to the lunar surface by 2030 and 2040, respectively, and NASA’s Artemis program seeks to return humans to the Moon after September 2026.
• A 2023 study published in the journal Nature states that in order to create a more accurate virtual clock, at least three atomic clocks must be placed on the lunar surface. These clocks will have to tick at the moon’s natural speed, and their output will be integrated using an algorithm.
• Because of the Moon’s rotation and the tiny effects of localized mass accumulations known as mascons beneath the Moon’s crust, these clocks must be positioned at various points on the Moon to measure time.
• Although these impacts are negligible, the output of these clocks can be combined to create the Moon its own independent time, which can also be linked to UTC for smooth operations from Earth.

What are atomic clocks?

• Atomic clocks use the resonance frequencies of atoms like cesium-133, which are naturally occurring frequencies at which an object tends to vibrate at a higher amplitude, to measure time.
• In terms of atomic time, one second is equal to 9,192,631,770 vibrations of a caesium atom.

Food Waste Index Report 2024

The United Nations Environment Programme (UNEP) and the UK-based non-profit organization WRAP (Waste and Resources Action Programme) jointly released the Food Waste Index Report 2024, which emphasized the significance of bolstering and broadening data infrastructure to facilitate the tracking and monitoring of food waste.

Context:

• Contrary to common belief, food waste was not a “problem in rich countries,” according to the survey, which found that the average household food waste levels in high-, upper-middle-, and lower-middle-income countries varied by only 7 kg per capita.

The Key Highlights of the Report:

• In 2022, food waste at the retail, food service, and residential levels accounted for 1.05 billion tons worldwide, or one-fifth (19%) of all food supplied to consumers. This is on top of the 13% of global food lost in the supply chain, which the Food and Agricultural Organization (FAO) estimates occurs from post-harvest to retail but not beyond.
• Eight to ten percent of greenhouse gas emissions come from food loss and waste, which is about five times more than emissions from the aviation industry combined. It happens when one-third of the world’s population experiences food insecurity.
• Urban and rural populations differ in middle-income countries, with rural areas typically spending less. In rural locations, there may be a higher divergence of food leftovers to pets, animal feed, and residential composting.
• In order to reach Sustainable Development Goal 12.3, which calls for halving food waste by 2030, many low- and middle-income nations still lack sufficient systems for monitoring progress, especially in the retail and food services sectors. Only the European Union, Australia, Japan, the United Kingdom, and the United States currently have food waste estimates that are appropriate for monitoring development through 2030.
• There is a deficiency of complete national data pertaining to food waste, as seen by the subnational estimates available for countries like India, Indonesia, and South Korea.

Key Recommendations of the Food Waste Index Report 2024:

• In order to achieve Sustainable Development Goal (SDG) 12.3, encourage the G20 countries to take the lead in international collaboration and policy development. They may do this by using their power over global consumer trends to raise awareness and spread education about food waste both locally and internationally.
• Promote the use of Public-Private Partnerships (PPPs) as a means of reducing food waste and its effects on water stress and climate change. PPPs bring together industry, government, and regional groups to work together toward a common objective using a Target-Measure-Act methodology.
• Encourage nations to adopt the Food Waste Index to assess food waste in a consistent manner, provide reliable national baselines, and monitor their progress toward SDG 12.7. One aspect of this is tackling the deficiency of thorough data collecting on food waste, particularly in the retail and food service industries.
• Draw attention to the need for representative national studies on food waste in important nations including Mexico, South Africa, China, India, and Indonesia in order to reduce data variability and effectively manage food waste at the individual and systemic levels.
• In order to meet SDG 12.3—which calls for reducing global food waste by 2030—it is necessary to press governments, cities, food companies, and researchers to work together in efforts to minimize food waste. Accurate measurement, creative problem-solving, and teamwork are crucial.

NATIONAL INVESTMENT AND INFRASTRUCTURE FUND (NIIF)

$200 million, or roughly ₹1,660 crore, was recently invested significantly by the National Investment and Infrastructure Fund (NIIF) in iBUS Network and Infrastructure, a participant in the digital infrastructure market.

Context:

• This investment is a testament to NIIF’s dedication to advancing the transformative potential of digital technology for the Indian economy. Additionally, it fits in with the $35–40 billion in capital expenditures that are expected to be spent over the next five years in the digital infrastructure industry.

About NATIONAL INVESTMENT AND INFRASTRUCTURE FUND (NIIF)

• The first sovereign wealth fund in India is called the National Investment and Infrastructure Fund (NIIF).
• NIIF is a Category II Alternative Investment Fund (AIF) registered under SEBI regulations.
• NIIF was founded in 2015 to provide a venue for domestic and foreign investors to contribute equity capital to the country’s social and economic infrastructure.
• Through investments in greenfield (new), brownfield (existing), and stalled projects, NIIF seeks to improve financing for infrastructure.
• Leading local and international institutional investors work with the Government of India (GoI) to establish NIIF, an investor-owned fund manager.

Types of NIIF Funds:

• Master Fund: This fund mostly makes investments in projects related to infrastructure, including ports, airports, highways, and electricity. Additionally, it makes investments in reputable businesses that run in controlled settings.
• Fund of Funds: This fund makes investments in other funds that are well-known and have a strong track record of performance. It serves as an anchor investor, which makes it possible for fund managers to draw in additional institutional capital.
• Strategic Fund: Mainly investing in equities and equity-linked securities, this fund is registered with SEBI as an Alternative Fund II.

NEW FEATURES OF UPI

Two new features for the Unified Payments Interface (UPI) have been launched by the Reserve Bank of India (RBI) recently.

Context:

• With these additional features, UPI is expected to become even more flexible and easy to use, which will be advantageous to financial institutions as well as customers.

About UPI, or the Unified Payments Interface:

• Through a mobile platform, the Unified Payments Interface (UPI) is a real-time payment system that enables the instantaneous transfer of money between two bank accounts.
• The Reserve Bank of India (RBI) oversees its regulation and it was created by the National Payments Corporation of India (NPCI).
• On April 11, 2016, the Immediate Payment Service (IMPS) was upgraded with the debut of UPI.
• It offers features like smooth fund routing and merchant payments by combining several bank accounts into a single mobile application.
• PhonePe, Paytm, Google Pay, Amazon Pay, and BHIM—the government’s app—are a few of the most popular UPI apps.

New Features

UPI Access for Prepaid Payment Instruments (PPIs) through Third Party Apps:

• Prior to now, the PPI issuer’s website or mobile app was the only way to make UPI payments from Prepaid Payment Instruments (PPIs).
• The RBI now wants to allow UPI payments from PPI wallets to be made using third-party UPI apps.

Enabling UPI for Cash Deposit Facility:

• Historically, debit cards have been the main method of cash deposit at Cash Deposit Machines (CDMs).
• Building on the popularity of card-less UPI cash withdrawals at ATMs, RBI now suggests enabling UPI cash deposits at CDMs.
• The purpose of this initiative is to improve customer comfort and expedite the money handling procedure in banks.
• Customers will soon be able to use the UPI app to deposit cash at ATMs and CDMs in banks.