Context

• In an important development for global renewable energy efforts, Panama has officially ratified the International Solar Alliance (ISA).

Key Points

• Panama's commitment to solar energy The formal ratification process was completed in New Delhi, where Panamanian Ambassador Yasiel Burillo presented the ratification instrument to Joint Secretary (Economic Diplomacy), Ministry of External Affairs.
• It is noteworthy that with the amendment of its Framework Agreement in the year 2020, all United Nations member countries are eligible to join ISA.

International Solar Alliance

• Formation: Year 2015
• At the 21st Conference of the Parties to the United Nations Framework Convention on Climate Change (UNFCCC)
• Headquarters:India
•  Interim Secretariat: Gurugram
• President Country: India
• Co-Chair Country: France

Goal of ISA

• ISA is guided by its 'Towards 1000' strategy, which aims to mobilise US$1,000 billion of investment in solar energy solutions by 2030, while providing energy access to 1,000 million people using clean energy solutions and resulting in 1,000 GW of solar Energy efficiency has to be established.
• This will help reduce global solar emissions by 1,000 million tonnes of CO2 each year.

Important Facts For Exam

Panama

• Formal name: Republic of Panama
• Geographical location: Southernmost nation of Central America
• Panama Canal: It is a man-made waterway or ship canal, which connects the Pacific Ocean and the Atlantic Ocean.
• Capital: Panama
• Currency: US Dollar