Infrastructure, data resilience on G20 and COP29 agenda CDRI to assess fiscal risk in 4 countries 4 Indian states

Coalition for Disaster Resilient Infrastructure director general Amit Prothi.
Coalition for Disaster Resilient Infrastructure director general Amit Prothi.

Summary

  • We have started to think about how one looks at AI and all these technologies in the space of resilience, said CDRI chief Amit Prothi

New Delhi: The Coalition for Disaster Resilient Infrastructure (CDRI), an international organization based in New Delhi, is planning to tap artificial intelligence (AI) to curb infrastructure-related disasters, which also be discussed at the 29th United Nations Climate Change Conference (COP29), said director general Amit Prothi.

“We will have a discussion on data at COP29. We have started to think about how one looks at AI and all these technologies in the space of resilience. This will be an engagement to discuss with some key actors who are looking at AI for disasters," Prothi told Mint, adding, “Or how you use data better, better quality data for your decisions, how you bring in technological solutions, how you bring in all your sensors for monitoring road infrastructure. This is a lot of work in this space."

“For CDRI, it's a unique opportunity to really put a marker and speak. Technology is getting better. Right now, people are mapping risk. Google has come out with flood maps that you can generate. So, we are considering it. It's very early to talk about. I think by early next year or quarter two of next year, we should have a data strategy," Prothi said.

He said CDRI at COP29, which is scheduled between 11-22 November in Baku, Azerbaijan, will announce the winners of the second call for proposals on IRIS (Infrastructure for Resilient Island States).

Also read: India strengthens global agricultural partnerships at G20 Agri Ministerial Meeting in Brazil

IRIS, a multi-year grant mechanism, promotes resilient, sustainable, and inclusive infrastructure development in small island countries. The IRIS ‘Call for Proposals’ has been designed to channel support in small island developing states (SIDS) through projects based on key themes that emerged from extensive consultations and inputs from SIDS stakeholders.

The key themes are risk informed policy and planning, implementation readiness, access to finance, and inclusion mainstreaming. CDRI launched the first call last year.

Key agendas for G20

As the G20 summit under the presidency of Brazil is also scheduled in November between 18 and 19 in Rio de Janeiro, the CDRI chief said that one of key priorities of the G20 Disaster Risk Reduction (DRR) Working Group is resilient infrastructure. 

CDRI is leading the discussions and supporting the Brazil presidency with all materials on it, including a compendium of best practices, which will be ready in the next three weeks and be launched at the end of October at the G20 DRR working group meeting. At the DRR Ministerial meeting, which is scheduled for 1 November, it will release a compendium of good practice on Disaster Resilient Infrastructure from across G20 countries, Prothi informed.

Also read: CDRI to unveil telecom resilience study at CoP 29

Last year, the first G20 working group on Disaster Risk Reduction was set up under India's presidency to facilitate cooperation among G20 countries to reduce the risks associated with natural disasters and climate change, including CRI.

As far as environment and climate sustainability agenda of the 2024 G20 summit is concerned, emergency and preventative adaptation to extreme climate events, payments for ecosystem services, oceans, and waste and circular economy are being prioritized.

Focus on fiscal risk assessment

After a study on telecommunications infrastructure resilience that is ongoing in five Indian states with DoT, which is likely be wrapped up in another two-three months, CDRI is in discussions with Bhutan and Ghana for the same and planning to conduct a new study on fiscal risk assessment in four countries, including Fiji, Mauritius and Nepal and four Indian states to understand if they have capacity in their budget to cope with disasters due to extreme weather events caused by climate change.

The list also includes India and Indian states like Odisha, Gujarat, Himachal Pradesh and Tamil Nadu as the average annual loss or annual future losses due to the current climatic conditions is estimated to be over $31.6 billion. Around $8.3 trillion worth of infrastructure in India is estimated to be at risk, according to CDRI.

Also read: Consumer goods companies step up efforts to mitigate climate risks

“We are looking at state budgets across four states in India and four countries to understand if there is a big disaster tomorrow, if they have the capacity in their budget to manage it," Prothi said.

Climate risks could affect the budget of the federal government and state governments and the overall fiscal outlook through several pathways, including altering total tax revenue through effects on Gross Domestic Product (GDP) growth, and changing federal spending to respond to climate impacts, both to ameliorate climate damages and spur the transition to clean energy.

Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
more

topics

MINT SPECIALS