Morocco experienced an earthquake, while Hawaii, Greece, and Canada faced devastating wildfires. India grappled with landslides and floods in 2023, resulting in loss of life, infrastructure destruction, and supply chain disruptions.
Annually, the world suffers staggering losses of approximately $520 billion due to natural disasters.
The Coalition for Disaster Resilient Infrastructure (CDRI), a global collaboration comprising countries, UN agencies, multilateral development banks, and the private sector, has issued a pressing call for resilient infrastructure capable of withstanding, recovering from, and adapting to hazardous events and shocks.
Amit Prothi, Director General of CDRI, highlighted the alarming potential loss of $300-330 billion in infrastructure assets on average each year.
The CDRI report underscores the heightened vulnerability of low and middle income countries, primarily due to ongoing infrastructure construction. These nations must increase both public and private investments to mitigate their infrastructure deficits and bolster resilience.
The report also raises concerns that a significant portion of the infrastructure needed worldwide by 2050 remains unbuilt. CDRI asserts that addressing infrastructure deficits, achieving Sustainable Development Goals (SDGs), and reinforcing resilience by 2050 requires a total investment of $9.2 trillion, with $2.84 trillion earmarked for low and middle income nations.
Prothi pointed out the need for tailored assistance and technological support for certain countries, emphasising that a small nation reliant on a single airport risks isolation if that infrastructure is compromised.
However, the CDRI report cautions against blind investments. It underscores that excessive construction exacerbates challenges in numerous developing countries, including India. The recommendation is clear: disaster and climate risks must be systematically integrated into the planning, design, regulation, and management of infrastructure systems to avert escalating asset losses, damages, and service interruptions.
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