Over the past few years, India has completely transformed the way disaster risk reduction is financed, said Principal Secretary to the Prime Minister, P. K. Mishra.
Speaking at the Third Meeting of the G20 Disaster Risk Reduction Working Group in Chennai on Monday, Mr. 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,” said Mr. Mishra.
“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?” he asked.
