India sets up private sector alliance for DRR
The Times of India , Mar 19, 2019
India has set up private sector alliance for disaster resilient communities, known as ARISE, an initiative supported by the UN Office for Disaster Risk Reduction (UNISDR).
This will bring Indian corporates to work in tandem with the government to take action before a disaster strikes and build back better after a calamity. Already 140 companies worldwide are members of ARISE.
The government has taken the initiative to strengthen private sector participation and investment in building disaster resilient infrastructure and bring down disaster losses, one of the key goals of the Sendai framework for disaster risk reduction.
According to UNISDR, direct economic losses from disasters such as earthquakes, tsunamis, cyclones and flooding are now reaching an average of $250 billion to $300 billion annually. "The World Bank estimates that disasters cost the global economy $520 billion annually," it said.
"The new group ARISE India would turn the private sector’s attention to the importance of action before a disaster strikes and to take advantage of opportunities that emerge to build back better after a disaster hits,” said Mami Mizutori, UN secretary-general’s special representative for DRR.
Climate change is making development highly risky, particularly in lower-middle income countries like India. A study released by the UNISDR last year said India suffered economic losses of $80 billion during the 20-year period of 1998 to 2017.
India has been ranked among world’s top five countries in absolute economic losses. Globally, disaster losses during this period have been estimated at $3 trillion. These losses have increased by more than 120% in the last 20 years compared to the preceding two decades (1978-1997). And if we just account for climate related disaster losses, they have gone up by more than 151%.
Enhancing Public and Private Investment in Disaster Reduction to ensure sustainable development- Special Representative of the UN Secretary General for Disaster Risk Reduction
Enhancing public and private investment in disaster reduction to ensure sustainable development- special representative of the UN Secretary General for Disaster risk reduction