We must mobilise private finance for disaster risk reduction: P.K. Mishra at G20 DRR Meet
New Delhi: Over the past few years, financing for disaster risk reduction has been completely transformed in India and a predictable mechanism is in place for financing, not just for disaster response but also disaster mitigation, preparedness and recovery, said Principal Secretary to the Prime Minister, P. K.
Mishra on Monday. Speaking at the Third Meeting of the G20 Disaster Risk Reduction Working Group in Chennai, Mishra said India now has a predictable mechanism for financing not just disaster responses but also disaster mitigation, preparedness and recovery.
“Can we have analogous arrangements at the global level as well? Mobilising private finance for disaster risk reduction has been a challenge, but without it we will not be able to go very far in addressing all the disaster risk reduction needs," he added. “What kind of enabling environment should the governments create to attract private finance into disaster risk reduction? How can G20 generate momentum around this area and ensure that private investment in disaster risk reduction is not only an expression of corporate social responsibility but part of the core business of firms?" Mishra asked.
The principal secretary to the prime minister recalled meeting the G20 working group for the first time in Gandhinagar this March and pointed out the unprecedented climate change-related disasters that have taken place since then. He gave examples of massive heat waves gripping the entire northern hemisphere, forest fires in Canada and the haze that followed which affected cities in various parts of North America, and major cyclonic activities on the east and west coasts of India.
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