Invest ahead of time. After a Caribbean cyclone an automatic payment is sent to scuba divers to immediately repair the reef

Source: The post is based on the article “Invest ahead of time. After a Caribbean cyclone an automatic payment is sent to scuba divers to immediately repair the reef” published in The Times of India on 27^th June 2023.

Syllabus: GS 3 – Disaster Management

Relevance: About the role of CDRI and G20 in tackling disaster related concerns.

News: The article discusses the role of Coalition for Disaster Resilient Infrastructure (CDRI) and measures taken by the G20 in addressing disaster related concerns.

What is Disaster Resilient Infrastructure?

Disaster resilient infrastructure refers to the building or upgrading of structures while also understanding the ways in which natural and climatic events intersect with that infrastructure.

What measures are being taken by the CDRI in building disaster resilient infrastructure?

CDRI is designing infrastructure to sustain certain Richter scale events of earthquakes, taking pre-emptive measures to prevent collapse of infrastructures, and prevent loss of lives.

CDRI is also implementing capacity-building programs, and developing a curriculum on disaster risk in collaboration with institutes such as IITs.

What role is being played by CDRI in tackling the effects of climate change?

There are two important things associated with climate change – mitigation and adaptation.

While mitigation aims to limit global warming within a specific limit and focuses on achieving net-zero emissions, the adaptation accepts global warming as a reality and focuses on the impact of global warming, especially from an infrastructural point of view.

Hence, CDRI tries to analyse how the intersections between infrastructure and changing climatic patterns affect human lives and aims to reduce the risks from becoming disasters.

What is disaster risk financing and why is it needed?

DRF is about reducing the risk of disasters by investing ahead of time so that when hazards occur, the impact of the disaster is minimal and recovery can be made easily.

Risk pool mechanism set up in the Caribbean, a cyclone-prone region, is an example of DRF.

Under this mechanism, whenever a cyclone increases beyond a threshold, an automatic payment is sent to scuba divers, who immediately go and repair the coral reef. Because, coral reefs help in reducing wave strengths.

Hence, DRF can help in mitigating the impact of disaster.

How can awareness be raised about disaster-related events?

Technology plays an important role in increasing awareness. For instance, receiving messages on mobile phones about weather conditions enables people to take appropriate actions.

However, awareness alone is not sufficient and it is equally important for individuals to make informed decisions.

Hence, the Sustainable Development Goals initiative is one such programme which helps people in making decisions. Sharing and communicating information is also crucial.

What are key takeaways of the G20 meeting on disaster risk reduction?

Every member has expressed its concern towards disaster risk reduction and a roadmap is being developed.

Since the first G20 Disaster Risk Reduction Working Group (DRR WG) meeting was held under India’s G20 Presidency, efforts are initially being taken about sharing the information to initiate the process. DRF is also being emphasized as a priority.

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

How can G20 play a role in financial risk management?

The G20 already emphasizes infrastructure investments through its Quality Infrastructure Investment (QII) principles. However, disaster risks can also be included in financing mechanisms of the G20.

For this, G20 can work with the bankers and private investors to establish a framework for implementation. This can be done at a global stage with certain guidelines for the financiers.