India’s G20 presidency can show the way on disaster management

Source- The post is based on the article “India’s G20 presidency can show the way on disaster management” published in “The Indian Express” on 25th May 2023.

Syllabus: GS3- Disaster management

News– A second meeting of the Disaster Risk Reduction Working Group will be held in Mumbai between May 23-25. This is an opportune time to focus and deliver on the goals of disaster risk reduction.

How are G20 nations vulnerable to disasters?

The G20 nations have large exposure, and risk from asset concentration. They are vulnerable to natural disasters. In the current World Risk Index, four out of the top 10 vulnerable countries are G20 nations.

The combined estimated annual average loss in the G20 countries alone is $218 billion. It is equivalent to 9% of the average annual investment in infrastructure made by them.

What is the importance of disaster risk reduction?[Text Wrapping Break]Disaster risk reduction measures can play an important role in preventing such losses. Reducing risk can be achieved mainly by reducing vulnerability and exposure to risk through some measures. These are better economic and urban development choices and practices, protection of the environment, reduction of poverty and inequality.

Disasters can set back development gains. Hence, risk reduction is an important strategy if a country’s economic ambitions are to be realised.

Setting up early warning systems, undertaking periodic risk assessments, constructing disaster-resilient infrastructure are important strategies.

What were the five priorities outlined in the first meeting of the Disaster Risk Reduction working group?

Coverage of early warning systems to all.

Focus on disaster and climate-resilient infrastructure.

Improving financing frameworks for national disaster risk reduction.

Improving systems and capabilities for response to disasters and application.

Ecosystem-based approaches to disaster risk.

How is India contributing to disaster risk reduction?

PM Modi’s 10-point agenda outlined after the adoption of the Sendai Framework, guides the country in the implementation of the framework.

India has transformed the way the government finances disaster risk reduction and made targeted efforts to reduce losses from disasters.

The Coalition for Disaster Resilient Infrastructure is presently chaired by India and the United States.

The creation of the new workstream under the G20 is reflective of the prime minister’s commitment towards disaster preparedness.

What is the importance of G20 for disaster risk reduction?

The recently concluded high-level meeting of the General Assembly on the midterm review of the implementation of the Sendai Framework for Disaster Risk Reduction 2015-2030 mentions the importance of G20’s efforts in the implementation of the Sendai Framework.

The G20 provides a broader platform to drive global goals on disaster risk reduction. The perspectives that G20 as a group will bring to the table would be unique.

For example, any talk about risk financing will not be merely about additional financial resources. It will also include more efficient, effective and predictable financing mechanisms.

The Working Group on Disaster Risk Reduction is an opportunity for the G20 to take a lead in the implementation of the Sendai framework over the next seven years.