2023-05-17 09:06:05
For Safety's Sake: As President, India can guide G20’s disaster management initiative The G20 under India’s Presidency has endorsed
a new working group on disaster risk reduction. This makes it well-positioned
to prioritise disaster risk financing to achieve the targets set by the Sendai Framework for 2030. Recent Reports on DisasterCentre for Science and Environment (CSE) Report 2022India has witnessed a
climate change-induced natural disaster almost every day in 2022. Some examples are
Floods in Uttar Pradesh and Amarnath, Manipur Landslides, Cyclone Asani, Uttarkhanad Avalanche, etc. As a result, 2,755 lives were lost, almost 1.8 million hectare of crop area was affected, 416,667 houses were destroyed and killed close to 70,000 livestock.
The Intergovernmental Panel on Climate Change (IPCC)’s Sixth Assessment
Report: It highlights that
a significant number of people live in areas that are highly vulnerable to climate change, especially South Asia.
The 2021-22 Human Development Report: The report shows that disasters not only worsen poverty and thwart development, but also generate social polarisation across nations and communities.
How can G20 under Indian Presidency overcome these challenges? India has extensive experience dealing with natural disasters and can lead in promoting awareness of the financial impacts of disasters.
It can also lead the way in establishing a regulatory framework to enhance the financial capacity of insurance companies to cover disaster losses.
By emphasising the importance of disaster risk financing, the G20 can help governments worldwide to manage risk more effectively and ensure sustainable development.
The G20’s new Disaster Risk Reduction Working Group (DRRWG) has recognised the importance of prioritising disaster risk financing.
#prelims
@studytoday1
916 views06:06