Giving a major diplomatic push to the proposed global ‘Coalition for Disaster Resilient Infrastructure’ (CDRI), an Indian initiative on the lines of Solar Alliance of 120 countries, New Delhi has pledged Rs 480 crore for setting up of a secretariat here for the new grouping. The initiative has the support of UN and World Bank apart from other multilateral development banks.
• Among 33 countries which have already supported the Indian initiative, Italy, UK, Australia, South Africa and European Union have agreed to fund the new organisation set to be declared at the UN Climate Summit, scheduled in September at UN headquarters.
• Representatives from these 33 countries deliberated on the issue of policy challenges governments may face in view of the complexities arising out of disasters and climate change. Members felt the need for developing standards and regulation in building resilient infrastructure.
Climate change is causing more havoc than geophysical events like earthquakes and tsunamis. A study by the UN Office for Disaster Risk Reduction (UNISDR), had said about 91% of all disasters in the past 20 years (1998-2017) were caused by floods, storms, droughts, heatwaves and other extreme weather events. Globally, disaster losses during this period have been estimated at $3 trillion.
• Low income countries like India has suffered greater economic losses where up to 87% of their disasters are not reported. India suffered losses of $80 billion during the 20-year period. Globally, disaster losses are estimated at $520 billion per annum, pushing more than 26 million people into poverty every year. As a result inequality was rising at a far greater pace than projected, the study had said.
• The CDRI will work towards developing common standards in infrastructure building and invest in research and development (R&D) that will also determine funding from multilateral banks towards future investments by countries.
• The coalition’s charter provides for facilitating collaborative start-ups between countries to develop knowledge platforms, sector-specific studies on disaster and climate risk and resilience for infrastructure. The CDRI has been designed to provide development standards, financial and compliance mechanisms and appropriate governance arrangements.
• The challenge is that a transformation is now required in how infrastructure is designed, constructed, operated and maintained, and in the financial incentives, standards, governance arrangements and capacities that are required to facilitate resilient infrastructure.