Current Affairs 27 May 2026

India is among the leading carbon markets, according to the World Bank’s 2026 report.

India launched its Carbon Credit Trading Scheme (CCTS) in 2026, becoming a major global carbon pricing system.
India ranks as the fourth-largest carbon market by volume, after China, European Union, and Republic of Korea.
The scheme covers 7 sectors and about 490 industries, with emissions coverage of 477 million tCO2e.
Built on the Perform Achieve and Trade (PAT) energy efficiency framework.
Companies earn carbon credits by exceeding emission intensity reduction targets.
Global carbon pricing now covers 29% of emissions, with rising average prices reaching $21/tCO2e in 2026.
India has issued over 375 million carbon credits (2010–2025) in voluntary markets.

Asian Infrastructure Investment Bank launched a $10 billion fund on May 21, 2026, to support West Asia conflict–affected economies.
Facility named Energy, Food Security and Economic Resilience Facility.
Provides fast-disbursing financial support for energy, food, and essential imports.
Aims to strengthen economic resilience and infrastructure continuity.
Works in coordination with the International Monetary Fund, World Bank Group, and Asian Development Bank.

Department of Space approved space manufacturing clusters in Gujarat and Tamil Nadu.
Nodal agency: IN-SPACe to develop and manage common technical facilities.
Gujarat cluster (Khoraj, near Ahmedabad): focused on spacecraft, payload systems, and applications.
Tamil Nadu cluster (Thoothukudi): focused on launch vehicle manufacturing, testing, and integration.
Aim is to strengthen India’s space manufacturing ecosystem and private sector participation.

Oil and Natural Gas Corporation to develop India’s first commercial geothermal project in Puga Valley, Ladakh.
Project approved with a 5-year extension of MoU by the Ladakh administration.
Location: Puga Valley, over 14,000 feet altitude in Ladakh.
Planned 1 MWe pilot geothermal power plant, targeted for FY 2026–27.
Subsurface temperatures reach around 240°C, with high-pressure steam resources.
Aims to support Ladakh’s goal of becoming carbon-neutral through renewable energy development.

Lionel Messi becomes the second footballer to reach billionaire status after Cristiano Ronaldo.
Net worth confirmed by the Bloomberg Billionaires Index.
Career earnings exceed $700 million in salaries and bonuses.
Currently plays for Inter Miami CF in Major League Soccer (MLS).
Won a record 8 Ballon d’Or awards and led Argentina to the 2022 FIFA World Cup title.