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Current Affairs 22 November 2025

  1. Centre notifies four new Labour Codes
  2. Kerala snakebite mitigation model
  3. Guidelines defining ‘obscenity’ in online content proposed
  4. India’s First Private PSLV Launch Likely in Early 2026
  5. Humboldt Penguin Decline
  6. Big ideas, small purse” (COP30 Just Transition Work Programme)


 Why Is It in News?

  • All four Labour Codes have finally been brought into force, replacing 29 central labour laws (1930s–1950s era).
  • Government calls it the biggest pro-worker reform since Independence; Central Trade Unions call it an anti-worker, pro-employerreform.
  • Implementation follows years of delay due to state-level rule-making bottlenecks.
  • Debate revived due to concerns on hire-and-fire norms, fixed-term employment, union rights, gig-worker protection, wage security, and compliance costs.

Relevance

GS 2 – Governance, Policy, Labour Regulation

  • Rights of workers, state capacity, federalism in labour reform.
  • Welfare obligations vs ease of doing business.
  • Institutional rationalisation after decades of fragmented legislation.

GS 3 – Economy, Growth, Employment

  • Effects on formalisation, productivity, MSMEs.
  • Labour flexibility vs job security debate.
  • Impact on manufacturing competitiveness (China+1 strategy).

What Are the Four Labour Codes?

  • Code on Wages, 2019
  • Industrial Relations (IR) Code, 2020
  • Occupational Safety, Health & Working Conditions (OSH) Code, 2020
  • Social Security Code, 2020

Purpose of Codification

  • Replace 29 fragmented laws into 4 integrated codes to simplify compliance.
  • Modernise labour regulation to match global supply-chain standards.
  • Create a single, digitised compliance ecosystem.

1. Code on Wages, 2019

Core Provisions

  • Universal wage definition → reduces litigation; increases PF/ESI outgo if “allowances >50% of CTC”.
  • National Floor Wage → binding benchmark for states.
  • Timely payment, removal of discrimination.

Pros

  • Reduces wage variability; strengthens worker rights.
  • Prevents states from suppressing minimum wages.

Criticisms

  • Floor wage not linked to regional living costs; risks widening real wage gap.

Scholars: Prof. Ravi Srivastava notes wage definition may raise compliance costs, affecting MSMEs.

2. Industrial Relations Code, 2020

Core Provisions

  • Threshold for retrenchment/closure without govt approval raised from 100 → 300 workers.
  • Mandatory notice for strikes; wider definition of “industry”.
  • Fixed Term Employment institutionalised.

Pros

  • Predictability for industry; encourages formal hiring; global benchmarking.

Criticisms

  • Trade unions argue hire-and-fire flexibility erodes job security.
  • 300-worker threshold may push firms to avoid scaling up (K.P. Kannan).

Data

  • 83% of India’s factories have <300 workers, making this provision widely applicable.

3. OSH Code, 2020

Core Provisions

  • Consolidates 13 laws; uniform safety standards.
  • Mandatory welfare facilities, working hours norms.

Pros

  • Reduces inspector raj; improves safety standardisation.

Concerns

  • Rule-making dilution by states may weaken worker protection.
  • Gig and platform workers largely left out of OSH protections.

4. Social Security Code, 2020

Core Provisions

  • Extends social security to gig/platform workers, unorganised workers, fixed-term employees.
  • Aggregators to contribute 1–2% of turnover.

Pros

  • First legal recognition of gig workers; potential for universal social safety net.

Criticisms

  • No clear social security architecture; contribution unclear; minimal short-term benefits.

Scholars: Guy Standing links gig-worker precarity to need for portable benefits.

Cross-Cutting Issues

Positive Structural Gains

  • Single registration, single licensing, single return.
  • Digital compliance → reduces corruption and red tape.
  • Aligns India with OECD labour flexibility norms.

Major Criticisms

  • Shifts bargaining power in favour of employers.
  • Promotes informality-by-avoidance strategies (stall at 295–299 workers).
  • Implementation asymmetry: some states may dilute worker protections in competition.

Federal Concerns

  • Centre makes the Codes → States write rules → delays created a legal vacuum for years.
  • Risk of “race to the bottom” between states.

Way Forward

  • Link minimum wage to living wage (ILO recommendation).
  • Strengthen grievance redressal and worker data portability.
  • Universal social security architecture with clear enforcement.
  • Balanced flexibility: flexibility for firms + security for workers (John Dunlop framework).


Why Is It in News?

  • Kerala has declared snakebite envenomation a notifiable disease (Oct 2025) under the Kerala Public Health Act, 2023, aligning with the Centre’s 2024 National Action Plan for Snakebite Envenoming.
  • State aims for zero snakebite deaths by 2030, reducing deaths from 123 (2018–19) to 34 (2024–25).
  • Triggered by a 2019 childs death in a school, which exposed systemic gaps and sparked the creation of SARPA (Snake Awareness, Rescue, and Protection App) and statewide infrastructure reforms.

Relevance

GS 2 – Health, Governance, Disaster Management

  • Notifiable disease framework.
  • Public health preparedness, inter-departmental coordination.
  • Training and capacity building; emergency response systems.

GS 3 – Environment, Biodiversity, Ecology

  • Humanwildlife conflict.
  • Conservation through awareness.
  • Impact of land-use change on species behaviour.

GS 1 – Society

  • Vulnerability of rural/agricultural workers.
  • Behavioural change and community awareness.

Basics

  • India accounts for 64,000 of the 78,600 global snakebite deaths annually (Nature Communications, 2022).
  • Kerala: 130+ snake species, ~10 venomous; nearly 5,000 cases annually, many unreported.
  • High-risk groups: agricultural workers, forest-fringe residents, rural communities.

 Origins of Kerala’s Reform Drive

  • 2019: A 10-year-old girl died due to delayed treatment, lack of ventilator support, and school infrastructure negligence.
  • High Court initiated suo motu proceedings → mandatory school safety audits, infrastructure upgrades, pest-control norms.

Institutional Response: SARPA Initiative (2020)

Features

  • Mobile application connecting people to trained rescuers; first-aid protocol; species identification.
  • Training in scientific bag-and-pipe rescue method + mandatory safety gear (boots, gloves, hooks).
  • 6,200 trained, 3,300 licensed, but fewer than 1,000 active.
  • 58,000 snakes rescued and released; deaths reduced by over 70%.

Significance

  • India’s first digitised snake rescue network with trained handlers.
  • Shifts rescues from unscientific, risky practices to professionalised operations.

Public Health & Preventive Measures

Declaring Snakebite a Notifiable Disease

  • Enables accurate surveillance, mapping hotspots, epidemiological tracking.
  • Strengthens ASV inventory management and hospital readiness.

MGNREGS Worker Protection

  • Government supplies gloves, gumboots due to high exposure to vegetation and snake habitats.
  • Evidence-based worker safety response (increasing pit viper encounters).

School Safety

  • Annual safety audits; crack-filling; clearing vegetation; infrastructure maintenance.

Ecological & Environmental Drivers

  • Decline in paddy and rise of rubber/cardamom plantations → moist leaf litter → spike in hump-nosed pit viper encounters.
  • Kerala’s species profile differs from India’s “Big Four” paradigm.

Medical and Clinical Challenges

Antivenom Issues

  • National polyvalent ASV targets Big Four venom.
  • Ineffective against hump-nosed pit viper (Western Ghats endemic).
  • Kerala plans local ASV production with region-specific venom banks.

Clinical Management

  • Hesitancy in ASV administration due to fear of anaphylaxis → need for training, ICU preparedness.
  • Pre-hospital delays: heavy reliance on private vehicles; limited emergency protocols in ambulances.

Health System Model Needed

  • Hub-and-spoke: PHC → CHC → Taluk → District; emergency triage, stabilisation, ventilator access.

Wildlife & Conservation Linkages

  • Snakes crucial for rodent control, preventing crop loss and zoonotic disease spread.
  • SARPA + Snakepedia → improved public attitudes, shift from killing to scientific handling.

Operational & Administrative Constraints

  • Only ~1,000 active rescuers; most trained individuals unavailable due to day jobs.
  • RRTs overburdened with rising human-wildlife conflict (elephants, boars).
  • Plan to ensure one licensed handler per panchayat.

Challenges Highlighted

  • Ineffective ASV for region-specific species.
  • Shortage of active trained rescuers; operational gaps.
  • Medical system hesitancy, inadequate critical-care support.
  • Underreporting of snakebites.
  • Geographical variation in venom potency; dependence on Irula venom supply.
  • Ambulance systems not fully equipped for snakebite management.

Way Forward

  • Region-specific ASV, venom-collection centres in Kerala.
  • Mandatory ASV-administration training, ICU-ready district hospitals.
  • Ambulances equipped with snakebite protocols; community-first responder networks.
  • Panchayat-level deployment of certified handlers.
  • Expand SARPA Phase II with predictive mapping using GIS.
  • Integrate awareness in school curricula; Kudumbashree-led community training.
  • Strengthen occupational safety for MGNREGS/agricultural workers.


Why Is It in News?

  • The Union Government has submitted to the Supreme Court a draft amendment to the IT Rules, 2021 proposing explicit definitions of obscenityand disallowed online content.
  • The proposal seeks to import restrictions from the Cable Television Networks (Regulation) Act, 1995 into the digital ecosystem.
  • Supreme Court had earlier asked the government to frame clear guidelines for online content, prompting this response.
  • Digital rights groups view this as Indias most sweeping regulatory expansion over online content.

Relevance

GS 2 – Governance, Regulation, Fundamental Rights

  • Executive powers under IT Act & IT Rules.
  • Judicial oversight and constitutional tests (decency, obscenity).
  • Free speech vs public morality.

GS 3 – Cybersecurity, IT & Media Regulation

  • Digital platforms, online content moderation, intermediary obligations.
  • Platform liability and safe harbour.

GS 1 – Society & Ethics

  • Community standards, evolving social morality, cultural sensitivities.

Basics

  • IT Act, 2000 – Section 67 punishes publishing/transmitting obscene material electronically.
  • IT Rules, 2021 – impose due diligence obligations on social media intermediaries, news platforms, and OTT platforms; include a Code of Ethics.
  • Cable TV Act, 1995 – defines Programme Code with restrictions on indecency, vulgarity, communal disharmony, etc.
  • Cinematograph Act, 1952 – governs film certification; not traditionally applicable to OTT platforms (which are self-classified under IT Rules).
  • SC StandardAveek Sarkar vs State of West Bengal → “community standards test” to evaluate obscenity.

What the New Proposal Seeks to Change ?

  • Introduces explicit definition of “obscene digital content” into IT Rules.
  • Imports 17 broad categories from Cable TV Programme Code into the online Code of Ethics:
    • Avoid content offending “good taste or decency”.
    • No portrayal of criminality as desirable.
    • Avoid “indecent, vulgar, suggestive, repulsive or offensive themes”.
    • Restrictions on portrayal of ethnic, linguistic, regional groups.
  • Applies to all digital content: social media posts, OTT content, digital news.

Legal Basis Claimed

  • Amendment backed by Section 67 of IT Act, 2000, Cable TV Act provisions, Indian Penal Code (precursor to BNS).
  • Government says SC approval required before finalisation; public consultation to follow.
  • Seeks to revive Rules 9(1) and 9(3) of IT Rules (Code of Ethics enforcement) which are currently stayed by Bombay High Court.

Why Major Implications for OTT Platforms ?

  • OTT platforms required to ensure content is fit for public exhibition → effectively brings them close to Cinematograph Act certification norms.
  • Government says this applies only to OTT, not social media, but the draft does not show this demarcation.

Regulatory Shift & Concerns

Scale and Breadth

  • Digital rights experts call this the biggest regulatory expansion into digital content in India.
  • Restrictions originally meant for broadcast TV are now extended to user-generated content, memes, stand-up comedy, podcasts, news.

Overbreadth & Vagueness

  • Phrases like “good taste”, “decency”, “repulsive themes”, “snobbish attitude” → subjective and open-ended.
  • Risk of executive overreach as the government seeks to regulate content before courts decide validity of IT Rules.

Impact on Free Speech

  • “Sweeping” inclusion may chill satire, creative expression, political commentary, and stand-up comedy.
  • Comes in context of controversy around content by comedian Samay Raina and influencer Ranveer Allahbadia.

Judicial Context

  • The Supreme Court earlier urged the government to lay down clear guidelines due to rising disputes over online content.
  • Bombay HC stay on parts of IT Rules persists; government attempts to revive these provisions through amendment without final judicial verdict.

The “Community Standards Test”

  • Proposal references SC judgment (Aveek Sarkar).
  • Content not obscene if:
    • It does not appeal to lustful/voyeuristic interests to an average person using contemporary community standards.
    • It possesses literary, scientific, artistic or political value.
  • But experts say the draft ignores this nuance and expands categories far beyond obscenity.

Institutional & Federal Dimensions

  • Digital content regulation traditionally under MeitY, but proposed amendment introduced by I&B Ministry.
  • Highlights growing inter-ministerial overlap and blurred regulatory jurisdiction over digital spaces.

Criticisms

  • Vagueness of terms leads to arbitrary enforcement.
  • Possible revival of provisions under judicial stay.
  • Concerns about prior restraint, censorship, and chilling effect.
  • Extending Cable TV standards to digital media ignores distinct nature of on-demand platforms.
  • Potential conflict with Article 19(1)(a) rights.
  • Risk of overblocking by platforms to avoid liability.

Way Forward

  • Clear, narrow definitions aligned with SC jurisprudence, not broad moral codes.
  • Transparent, participatory rule-making with digital rights groups.
  • Distinct content norms for social media, OTT, news, not uniform standards.
  • Independent regulatory mechanism instead of executive-driven oversight.
  • Periodic review of guidelines to reflect contemporary community standards.


Why Is It in News?

  • India’s first privately manufactured PSLV (Polar Satellite Launch Vehicle) is expected to launch in early 2026.
  • A HALL&T consortium is manufacturing at least five PSLV rockets under ISRO’s commercialisation push.
  • Marks a major shift as, for the first time, a non-government entity will build an entire PSLV, not just components.

Relevance

GS 3 — Science & Technology

  • Indigenous manufacturing, space commercialisation, technological self-reliance.
  • Role of private sector in strategic technology.

GS 3 Economy

  • Boost to high-tech manufacturing, exports, industrial ecosystem.

GS 2 Governance

  • Role of ISRO, NSIL, IN-SPACe; regulatory shifts enabling private participation.

 

What is PSLV?

  • India’s workhorse launcher since 1993.
  • Designed for placing satellites into Polar Sun-Synchronous Orbits (SSO) and low-Earth orbits.
  • Known for reliability (over 50 successful launches).
  • Used for iconic missions: Chandrayaan-1, Mars Orbiter Mission, IRNSS/NavIC satellites.

What is New?

  • Until now, PSLV was built by ISRO, with private industry supplying components.
  • For the first time, a complete rocket is being assembled, integrated, and tested by a private consortium.

Background: ISRO’s Privatisation & Commercialisation Push

  • ISRO shifted focus from manufacturing to R&D and high-end design.
  • IN-SPACe and NSIL created to expand private participation.
  • After 2022, ISRO announced PSLV manufacture would be opened to industry to increase capacity and meet global demand.
  • HAL–L&T consortium won the bid to build five PSLV-XL versions.

Details of the Current Development

  • Hardware delivery to ISRO has begun; integration is on track.
  • First PSLV from private sector expected in early 2026, with two further launches in the same year.
  • ISRO remains responsible for payload contracting, launch operations, and safety.
  • Private players handle assembly, integration, and testing—a new model.

Key Differences vs Earlier Model

  • Earlier:
    • Private companies supplied components, not entire launch vehicles.
    • Manufacturing coordination was ISRO-led.
  • Now:
    • A fully industry-built PSLV delivered as a ready-to-launch vehicle.
    • ISRO acts as technical authority and launch provider, not manufacturer.

Why This Matters — Strategic Significance

1. Increased Launch Capacity

  • Demand for small satellites and commercial launches is surging.
  • Private production frees ISRO to focus on Gaganyaan, reusable vehicles, deep space.

2. Strengthens Indias Space Industry

  • Reduces dependence on ISRO’s limited production capacity.
  • Enables India to enter the fast-growing global small-satellite launch market.

3. Technology Transfer & Industrial Capability

  • HAL–L&T gaining capability to build rockets independently → enhances Aatmanirbhar Bharat in space technology.

4. More Competitive Globally

  • PSLV is globally trusted but capacity is limited.
  • Private manufacturing will allow India to offer more launches per year, competing with SpaceX rideshare, Rocket Lab, etc.

Challenges & Concerns

  • Skill transfer and maintaining PSLVs reliability standards.
  • Ensuring quality control in private manufacturing.
  • Competition from emerging Indian private launch startups (Skyroot, Agnikul).
  • Global pricing pressures due to SpaceX’s aggressive cost structure.


Why Is It in News?

  • Chile has officially declared the Humboldt Penguin an endangeredspecies (October 2024).
  • Scientists warn that the population may soon fall to critically endangered if current threats persist.
  • Chile hosts 80% of the global Humboldt Penguin population, making the decline globally significant.
  • New estimates: <20,000 penguins, down from ~45,000 in the late 1990s.

Relevance

GS 3 — Environment & Biodiversity

  • Species conservation, climate vulnerability, marine ecosystems, anthropogenic pressures.

GS 1 — Geography

  • Ocean currents, Humboldt Current system, El Niño impacts.

GS 2 Governance

  • Fisheries regulation, wildlife legislation, transboundary marine conservation (Chile–Peru).

Species Profile

  • Scientific Name: Spheniscus humboldti
  • Habitat: Pacific coasts of Chile and Peru; nests in rocky islands, burrows, and coastal cliffs.
  • Food: Anchovies, sardines, other small fish.
  • Lifespan: 15–20 years in the wild.
  • IUCN Status: Vulnerable globally; now Endangered in Chile.

Why “Humboldt”?

  • Named after the Humboldt Current, a cold, nutrient-rich ocean current along Chile–Peru coast that supports abundant fish populations.

Population Trends

  • Late 1990s: ~45,000
  • Today: <20,000
  • Decline rate: Over 55% in ~25 years.
  • Scientists expect further decline due to additive threats.

Key Threat Factors

A. Climate Change (Most Critical)

  • Warming oceans weaken the Humboldt Current, reducing nutrient upwelling.
  • Decreased plankton → weaker fish populations → food scarcity for penguins.
  • El Niño events cause mass starvation by driving fish into deeper, warmer waters.
  • Increased storm surges destroy nests.

B. Overfishing & Food Competition

  • Intense industrial fishing of anchovies and sardines, the penguins’ primary diet.
  • Small-scale artisanal fishing also competes for resources.
  • Population crash in prey species leads directly to penguin mortality.

C. Bycatch in Fishing Nets

  • Penguins drown in nets used for:
    • artisanal gillnets
    • industrial trawlers
  • A leading direct cause of adult mortality.

D. Habitat Loss & Disturbance

  • Coastal development, tourism pressure, egg collection.
  • Burrow collapse due to human intrusion.
  • Pollution (oil spills, plastics) affects nesting islands.

E. Avian Influenza (H5N1)

  • Bird flu outbreak has killed thousands of seabirds across South America since 2023.
  • Humboldt Penguins have shown significant vulnerability.

Why Chile’s Alarm Matters Globally ?

  • Chile hosts 80% of the world population → any decline here has global extinction-level impact.
  • Endangered classification allows:
    • stricter fisheries regulation
    • protection of nesting sites
    • control over tourism and coastal projects
    • enforcement of bycatch monitoring.

Expert Concerns

  • Marine biologist Guillermo Cubillos:
    Persistent threats could push species to critically endangered, a short step from extinction.
  • Veterinary scientist Paulina Arce:
    Urges legally binding sustainable fishing regulations + stronger bycatch controls.

Conservation Challenges

  • Weak enforcement of marine protected areas.
  • Difficult to regulate small-scale fishing fleets.
  • Climate change impacts not fully reversible.
  • Limited rescue/rehabilitation capacity for stranded birds.

International Comparison

  • Humboldt Penguins face steeper decline than related species:
    • African Penguin: dramatic decline due to similar threats.
    • Magellanic Penguin: declining but less severely.
  • Shows how climate + overfishing combo hits Humboldt species hardest.


Why Is It in News?

  • On November 21, the final scheduled day of COP30, the Presidency released a strengthened draft of the UAE Just Transition Work Programme (JTWP) under the Paris Agreement.
  • It proposes a new Just Transition Mechanism, a major institutional step, but fails to secure new finance, angering developing countries.
  • The draft removes politically sensitive references to unilateral trade measures, critical minerals, and transition away from fossil fuels, reflecting tense Global South–North negotiations.

Relevance

GS 3 — Environment & Climate Governance

  • Climate negotiations, equity, CBDR-RC
  • Global climate finance, adaptation gap
  • Just transition framework

GS 2 International Relations

  • Global NorthSouth politics
  • Trade-related climate measures (CBAM)
  • Multilateral governance

GS 3 Economy

  • Impacts on energy transition, MSMEs, labour markets
  • Transition risks for developing economies

What is “Just Transition”?

  • A framework ensuring that climate actions (mitigation + adaptation) happen fairly, protecting workers, communities, vulnerable groups, and development needs.
  • Originated from labour rights movements; evolved into a global climate governance agenda.

What is the JTWP?

  • A structured, multi-year programme under the Paris Agreement (adopted at COP28).
  • Objective: share best practices, guide countries, and build capacity for equitable climate transitions.

What is the new “Just Transition Mechanism”?

  • Proposed institutional platform under UNFCCC to:
    • enable cooperation
    • provide technical assistance
    • support capacity-building
    • coordinate just transition activities globally
  • Scheduled for detailed development in 2026, adoption likely at CMA8.

Key Highlights of the COP30 Draft

A. Major Institutional Progress

  • Creates a Just Transition Mechanism — a big structural shift for anchoring just transition in the UN climate regime.
  • Invites Parties to submit design suggestions by March 2026.

B. But Zero Advance on Finance

  • No new commitments from developed countries.
  • No clarity on:
    • additional finance
    • predictable flows
    • public financing obligations
  • Only weak language: “encourages” developed-country support.
  • Despite acknowledging widening finance and adaptation gaps, the text avoids enforceable obligations.

C. Political Trade-offs in the Final Text

  • Removed:
    • unilateral climate-related trade measures (e.g., CBAM) — demanded by G77, LMDCs, African + Arab Groups.
    • transition away from fossil fuels” — pushed by AOSIS, AILAC, developed nations.
    • references to critical minerals — which China opposed.
    • objections by Paraguay and Argentina on gender terminology.

Result: a politically diluted but institutionally enhanced text.

Broader Definition of Just Transition

The draft defines just transition as:

  • multisectoral (energy, agriculture, industry, transport, MSMEs)
  • multidimensional (jobs, skills, rights, social protection, livelihoods)
  • cross-cutting (poverty, resilience, equity)

Key elements:

  • labour rights and human rights
  • Indigenous Peoples’ rights
  • informal economy inclusion
  • decent work and skills
  • universal energy access (clean cooking highlighted)
  • strong focus on adaptation and resilience, not just energy transition

This expanded framing aligns with most Global South priorities.

What It Means for the Global South

Positive

  • Strong reaffirmation of equity and CBDR-RC.
  • Recognition that transitions must be country-specific, bottom-up, and development-linked.
  • Inclusion of informal workers, MSMEs, and universal energy access.
  • Improved institutional home for just transition inside the UNFCCC.

Negative

  • No finance guarantees → biggest disappointment.
  • No recognition of trade-related pressures (CBAM not mentioned).
  • Weakened language on obligations of developed countries.
  • Risk that the mechanism may become a knowledge-sharing platform without real funding power.

Implications for India

Strategic Wins

  • Equity + CBDR-RC reaffirmed.
  • Multidimensional framing aligns with India’s priorities:
    • poverty eradication
    • energy access
    • livelihoods
    • informal workforce
    • adaptation-centric development
  • Fits India’s pitch: “Just transition must not equal energy transition only.”

Key Concerns

  • No new finance, despite India’s push for:
    • concessional support
    • adaptation finance
    • MSME transition support
    • clean cooking and energy access
  • Removal of language on unilateral measures → India loses leverage in CBAM debates.

Opportunities

  • India can shape the design of the Mechanism:
    • coal region transition
    • skill development
    • green jobs
    • MSME decarbonisation
    • clean cooking
    • social protection & reskilling

How Week One Negotiations Shaped the Outcome ?

Developing Country Demands

  • G77 + China → mechanism with finance mobilisation mandate.
  • LMDCs, Arab, African Groups → address trade restrictions (CBAM).
  • Nigeria → new body to channel predictable finance.

Developed Country Stance

  • EU, UK → oppose new obligations; prefer voluntary action plans.
  • Reject trade-related language (domestic policy sovereignty).
  • Push for “transition away from fossil fuels” → blocked by Russia + Arab Group.

Result

  • Structural win (mechanism exists).
  • Substance diluted (finance + fossil-fuel transition language removed).

Why Finance is Missing — Structural Reasons

  • Developed countries fear:
    • additional financial liabilities
    • duplication with existing funds
    • precedents for future negotiations
  • COP is under pressure from:
    • global debt crisis
    • unmet $100 bn target
    • adaptation finance gap
    • political backlash in domestic economies
  • Hence, institutional architecture moves ahead; money does not.

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