Global Resilience Index Initiative

Global Resilience Index Initiative- Relevance for UPSC Exam

• GS Paper 2: International Relations- Bilateral, regional and global groupings and agreements involving India and/or affecting India’s interests.
• GS Paper 3: Environment- Conservation, environmental pollution and degradation.

 

Global Resilience Index Initiative- Context

• Recently, Global Resilience Index Initiative (GRII) was launched at COP26 by a coalition of ten global organizations.

 

Global Resilience Index Initiative- Key Points

• About: Global Resilience Index Initiative aims to build a universal model for assessing resilience to climate risks.
• Global Resilience Index Initiative (GRII) will provide a globally consistent model for the assessment of resilience across all sectors and geographies.
• Objective: The coalition wants to achieve two immediate goals.

1. 1. They want to provide global open reference risk data developed using insurance risk modelling principles.
   2. They want to provide shared standards and facilities applicable to a wide range of uses: Corporate climate risk disclosure, national adaptation planning and reporting, and the planning of pre-arranged humanitarian finance.

• Funding: Global Resilience Index Initiative (GRII) has been initiated with partial funding and in-kind contributions from the insurance sector and partner institutions.
• Organizations Involved: GRII partners and supporters are:
  1. Coalition for Disaster Resilient Infrastructure (CDRI)
  2. Coalition for Climate Resilient Investment (CCRI)
  3. Fathom
  4. GEM Foundation
  5. Insurance Development Forum (IDF)
  6. Oasis Loss Modelling Framework
  7. UK Centre for Greening Finance and Investment (CGFI)
  8. United Nations Office for Disaster Risk Reduction (UNDRR)
  9. University of Oxford
  10. Willis Towers Watson

PMGDISHA

 

Global Resilience Index Initiative- Key Benefits

• Global Resilience Index Initiative will help countries focus on national adaptation investments.
• Global Resilience Index Initiative will provide high-level metrics “across the built environment, infrastructure, agriculture and societal exposures”.
• The outcomes of this risk analysis will help close the insurance protection gap and direct investment and aid to where they are needed the most.
• Global Resilience Index Initiative will also address the data emergency that is contributing to the climate crisis.
  • Systems and economies resilient to climate disruption can save millions of lives and livelihoods.

 

Vamsadhara River Water Dispute