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In the area of financing disaster risk reduction (DRR), it is important to pursue structured mechanisms at all levels for financing all aspects of DRR, said PK Mishra, Principal Secretary to Prime Minister Narendra Modi.
“Over the last few years, in India, we have completely transformed the way DRR is financed. There is now a predictable mechanism for financing, not just disaster response but also disaster mitigation, preparedness, and recovery,” he said in his inaugural address on Monday of the Third Meeting of the G20 Disaster Risk Reduction Working Group.
“Mobilising private finance for DRR has been a challenge but without it, we will not be able to go very far in addressing all the DRR needs,” said Mishra.
A glimpse of the G20 Disaster Risk Reduction Working Group
In all the five priorities pursued by the DRR Working Group, there has been significant progress on all the deliverables. The zero draft of the Communique that you are going to discuss over the next few days puts forward a clear and strategic agenda on DRR for the G20 nations, he added.
Read: G20 working group calls for disaster risk financing
Mami Mizutori, Special Representative of the UN Secretary-General, said in her remarks that at the midpoint of the Sendai Framework (for DRR 2015–2030, an international document that was adopted by the UN member states), progress has certainly been made. “But we are not where we need to be,” she added.
By prioritizing DRR on the G20’s agenda, you have firmly established it as an economic matter requiring attention from national financial authorities and the global financial system. This sends a powerful message that DRR is financially viable and indispensable for achieving development and climate objectives, she added.
As the climate crisis intensifies, you have acknowledged the importance of integrating DRR into all aspects of national financial planning and spending and across the global financial system, she told the delegates.
You have also recognised the need to mainstream DRR into policy and investment decisions as well as into standards, regulations, and legislative frameworks in all sectors, particularly infrastructure. National disaster management agencies have been loyal custodians of the DRR agenda for many decades, but it is now time to share this responsibility across all ministries.
You have been steadfast in your resolve to enhance partnerships with developing countries to build their resilience, including through sharing your good practices. As developing countries are the ones most impacted by disasters, this assistance will go a long way to reducing global losses, she added.
Read: War, debt distress, inflation: G-20 finance chiefs spar in India
According to India’s G20 Sherpa, Amitabh Kant, the earthquakes in Turkey, earlier this year, and the lives lost due to it, served as a stark reminder of the urgent need to prioritise DR in policy discourse. Heatwaves have claimed thousands of lives in Europe, and droughts have left millions of people in Africa grappling with the scarcity of water and resources. DRR is not merely about preparedness and swift emergency response, he said.
DRR encompasses a comprehensive approach that aims to identify and address the underlying drivers of risk- climate change, urban development policies, governance architectures, and financing frameworks. “All the countries represented in this hall believe that disaster risk reduction is not just a policy issue but a moral imperative,” he said.
The mid-term review of the Sendai Framework emphasised the urgency to accelerate disaster risk reduction efforts at all levels. The working group’s discussions aim to turn early warnings into actions, integrate risk assessments into infrastructure projects, and align national financing strategies comprehensively, he added.
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