Just Energy Transition Partnership (JET-P)
Source : DTE
GS II : International Relation; GS III : Environment
Overview
- About Just Energy Transition Partnership (JET-P)
- How it helps
Why in News ?
Senegal has become the fourth country after South Africa, Indonesia and Vietnam to sign the JET-P deal, with the International Partners Group comprising France, Germany, the European Union, the United Kingdom and Canada.
About Just Energy Transition Partnership (JET-P)
- It is a system for international finance by wealthier nations to assist developing nations with an energy transition.
- It seeks to quicken the phase-out of coal and lower emissions in the energy industry.
- Transition refers to the progressive shift towards lower-carbon technology, but “Just” specifies that this shift won’t have a detrimental impact on society, employment, or way of life.
- The United Kingdom (UK), the United States (US), France, Germany, and the European Union (EU) all supported its debut at the COP26 in Glasgow.
- Senegal has joined the International Partners Group, which consists of France, Germany, the European Union, the United Kingdom, and Canada, as the fourth nation to sign the JET-P agreement after South Africa, Indonesia, and Vietnam.
Senegal
- Senegal officially the Republic of Senegal, named after the Senegal River.
- It is a country in West Africa
- On West the Atlantic Ocean coastline.
- Senegal is bordered by
- Mauritania to the north
- Mali to the east
- Guinea to the southeast
- Guinea-Bissau to the southwest.
- Senegal nearly surrounds the Gambia
- Senegal also shares a maritime border with Cape Verde.
- Senegal’s economic and political capital is Dakar.
- The largest export markets as of 2020 are Mali (20.4%), Switzerland (12.2%), and India (8.3%).
- the Government of India provided a line of credit worth $2 billion to a group of 9 West African nations, including Senegal, called Team-9.
- India provides scholarships for training Senegalese personnel under its Indian Technical and Economic Cooperation Programme.
- The two countries entered into a Bilateral Investment Promotion and Protection Agreement in 2005 and a Double Taxation Avoidance Agreement in 2007.
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