India needs early investments in climate resilience

A new study warns that a single major disaster could result in damages worth $II billion for India, but proactive investments in resilience can reduce these losses more than post-disaster aid, as highlighted by a Mongabay-India (MI) report. These losses are the highest among eight countries assessed by the International Institute for Environment and Development (IIED) in its analysis.

- Meena Janardhan

The MI report adds that India is especially in need for adaptation measures that will adequately cover the costs of escalating disasters. The IIED study analysed four types of interventions to gauge the costs and benefits of each when it comes to disaster management, finding that more than humanitarian aid, early investments in resilience (such as employment schemes and direct benefit transfers) had the biggest impact in reducing the extent of losses from disasters. Every $l invested in early resilience yields $5.17 in avoided losses and development gains, the study states. According to the study, for a one-in-twenty-year event leading to losses and damages worth $II billion, it would cost $48.5 billion to cover this through existing social programmes. By comparison, investments in anticipatory direct benefit transfers can cover the cost in $5.4 billion, and early resilience investments can cover the cost for $2.2 billion.