Capturing the Resilience Dividend report

• Coalition for Disaster Resilient Infrastructure (CDRI)’s Biennial Report on Global Infrastructure Resilience: Capturing the Resilience Dividend was released recently.
• It provides a Global Infrastructure Risk Model and Resilience Index (GIRI), the first publicly available and fully probabilistic risk model to estimate risk for infrastructure assets with respect to most major geological and climate-related hazards.

MAJOR FINDINGS

• Around 30% of the average annual loss is associated with hazards such as earthquakes and tsunamis whereas 70% is associated with climate-related hazards like cyclones, floods, and storms.
• The risk is not spread equally across sectors with around 80% of the risk concentrated in the power, transport, and telecommunications sectors.
• The global average annual loss in infrastructure sectors and buildings is now in a range of $732– $845 billion taking into account climate change and that around 14% of 2021- 2022 global GDP growth is at risk.
• Annual investment required to address the infrastructure deficit, achieve the sustainable development goals, achieve net zero, and strengthen resilience by 2050 amounts to $9.2 trillion of which $2.84-$2.90 trillion must be invested in low-and middle-income countries.
• Around 67% of the global value of infrastructure assets is concentrated in high-income countries Low and Middle-Income Countries carry the highest relative risk to their infrastructure.

ABOUT COALITION FOR DISASTER RESILIENT INFRASTRUCTURE (CDRI)

• It is a global partnership of national governments, United Nations agencies and programmes, multilateral development banks and financing mechanisms, the private sector, and academic and research institutions.
• It aims to increase the resilience of infrastructure systems to climate and disaster risks, thereby ensuring sustainable development.
• India launched CDRI at the UN Climate Action Summit in 2019 in New York.
• It is the Government of India’s second major global initiative after the International Solar Alliance, and it demonstrates India’s leadership in climate change and disaster resilience issues.
• Secretariat- New Delhi
• Members- 31 countries and 8 organisations(which include-)
  • 6 International Organisations: Asian Development Bank (ADB), World Bank Group, United Nations Development Programme (UNDP), United Nations Office for Disaster Risk Reduction (UNDRR), European Union, European Investment Bank.
  • 2 Private Sector Organisations: The Private Sector Alliance for Disaster Resilient Societies and Coalition for Climate Resilient Investment.