Clean Economy Investor Forum

08.06.2024

Clean Economy Investor Forum

 Why in the news?   

The Indian delegation participated in the inaugural Indo-Pacific Economic Framework for Prosperity (IPEF) Clean Economy Investor Forum.

About Indo-Pacific Economic Framework for Prosperity (IPEF)

• It is an economic initiative launched by the United States President on May 23, 2022.
• It has 14 members: Australia, Brunei, Fiji, India, Indonesia, Japan, South Korea, Malaysia, New Zealand, Philippines, Singapore, Thailand, United States and Vietnam.
• This framework is intended to advance resilience, sustainability, inclusiveness, economic growth, fairness, and competitiveness for member economies.
• The forum seeks to go beyond traditional free trade agreements and work on the issues of supply chains, clean energy, decarburization, infrastructure and tax and anti-corruption.
• Four pillars of cooperation: Trade, Supply Chain, Clean Economy, and Fair Economy. India is not part of the trade pillar.

Clean Economy Investor Forum

• The IPEF Clean Economy Investor Forum is one of the initiatives under the IPEF.
• It brings together the region's top investors, philanthropies, financial institutions, innovative companies, startups and entrepreneurs. The forum aims to mobilize investments into sustainable infrastructure, climate technology and renewable energy projects.
• The Department of Commerce is the nodal agency for the IPEF engagements, and the IPEF Clean Economy Investor Forum is managed by Invest India, the country's national investment promotion agency.

                                                                        Source: PIB

Consider the following statements with reference to the Clean Economy Investor Forum:

Statement-I

 It is one of the initiatives under the Indo-Pacific Economic Framework for Prosperity (IPEF).

Statement-II

It aims to mobilize investments into sustainable infrastructure, climate technology and renewable energy projects.

Ques :- Which one of the following is correct in respect of the above statements?

1. Both Statement-I and Statement-II are correct, and Statement-II is the correct explanation for Statement-I.
2. Both Statement-I and Statement-II are correct, and Statement-II is not the correct explanation for Statement-I.
3. Statement-I is correct, but Statement-II is incorrect.
4. Statement-I is incorrect, but Statement-II is correct.

Answer A