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.
- They want to provide global open reference risk data developed using insurance risk modelling principles.
- 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:
- Coalition for Disaster Resilient Infrastructure (CDRI)
- Coalition for Climate Resilient Investment (CCRI)
- GEM Foundation
- Insurance Development Forum (IDF)
- Oasis Loss Modelling Framework
- UK Centre for Greening Finance and Investment (CGFI)
- United Nations Office for Disaster Risk Reduction (UNDRR)
- University of Oxford
- Willis Towers Watson
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.