Latest news with #DisasterManagementActof2005
Mint
3 days ago
- Business
- Mint
India calls for dedicated global funding mechanism for tackling disaster risks
New Delhi: India has called for a dedicated international mechanism to support the establishment and strengthening of financing systems to help nations mitigate disaster risks. Speaking at the Ministerial Roundtable on Disaster Risk Reduction (DRR) Financing at Geneva on 4 June, P.K. Mishra, principal secretary to prime minister Narendra Modi, called for the creation of a global facility, backed by the UN system and multilateral financial institutions, to provide catalytic funding, technical assistance, and a platform for knowledge exchange, according to a statement issued by the Prime Minister's Office on Friday. The roundtable was convened by the United Nations Office for Disaster Risk Reduction (UNDRR) He echoed India's longstanding complaint of the absence of global financing for addressing climate risks. On 29 May, in an address to students of Delhi University, finanace minister Nirmala Sitharaman said that even as countries like India have committed to a greener future, they are having to find their own resources in the absence of global funding, as reported by Mint. She had added that India is continuously working with multilateral institutions to make sure they have enough leverage with their funds to finance the common cause of climate action. Speaking on India's approach to disaster risk reduction, Mishra said that the country's financing system was built on four key principles. This includes dedicated financial windows for preparedness, mitigation, relief, and recovery. Second, prioritization of the needs of affected people and vulnerable communities. The third is accessibility of financial resources across all government levels—central, state, and local. Fourth, accountability, transparency, and measurable outcomes guiding all expenditures. Emphasizing on the importance of predetermined, rules-based allocations flowing from national to state and district levels, Mishra added that the Disaster Management Act of 2005 ensured that disaster financing in the country is structured and predictable rather than reactive. Mishra stressed that disaster risk financing must be nationally owned and driven, complemented by international cooperation. The G20 presidency drove efforts to reduce disaster risks by setting up the Disaster Risk Reduction (DRR) Working Group in the 18th meeting of the G20, hosted by India on 9 and 10 September, 2023. In the G20 New Delhi Leaders' Declaration, the G20 leaders reaffirmed their commitment to the UN's Sendai Framework for Disaster Risk Reduction (SFDRR), which aims to reduce disaster risks and losses globally. To achieve this, they agreed to support building up capabilities of all countries, especially lesser developed countries to strengthen climate resilience of infrastructure systems.
India Gazette
4 days ago
- Business
- India Gazette
India showcases world's largest DRR financing system at UN disaster platform in Geneva
Geneva [Switzerland], June 5 (ANI): Principal Secretary to the Prime Minister, PK Mishra, highlighted India's robust Disaster Risk Reduction (DRR) financing system--cumulatively exceeding USD 28 billion--and called for concrete, time-bound outcomes and the creation of a global facility for catalytic funding, technical assistance, and knowledge exchange. While delivering India's statement at the 8th Global Platform for Disaster Risk Reduction (GPDRR) 2025 in Geneva on Wednesday (local time), Mishra commended the United Nations Office for Disaster Risk Reduction (UNDRR) and its partners for convening the ministerial roundtable on DRR financing, emphasising that its journey from a USD 1 million allocation to a projected USD 42 billion under the 16th Finance Commission underscores the importance of a rule-based, structured financing architecture backed by the Disaster Management Act of 2005. 'India commends the UNDR and its partners for convening this important ministerial roundtable on Disaster Risk Reduction (DRR) financing. We also appreciate the efforts made by Brazil and South Africa in continuing the global dialogue on this vital subject through their respective G20 presidencies,' Mishra noted in the opening statement. 'For India, DRR financing is not a territorial issue -- it is central to the effective functioning of disaster management systems and the protection of development gains in an era of escalating climate and disaster risks. India believes that a robust and responsive DRR financing architecture is a cornerstone of resilience. Our journey has evolved steadily and purposefully -- starting from an allocation of approximately USD 1 million through the early Finance Commissions, our cumulative outlay now exceeds USD 28 billion and is expected to rise to USD 42 billion under the 16th Finance Commission. India's experience underscores the importance of rule-based, pre-determined allocations that flow seamlessly from the national to the state and district levels. This system is backed by a strong legislative foundation -- the Disaster Management Act of 2005 -- which has transformed disaster financing from a reactive mechanism into a structured and predictable system,' he further added. According to a post on X by the Permanent Mission of India at Geneva, India showcased the world's largest DRR financing system. 'Principal Secretary to PM delivered India's statement at GPDRR 2025 Geneva, showcasing the world's largest nationally anchored DRR financing system. Called for concrete, time-bound outcomes and creation of a global facility for catalytic funding, technical assistance & knowledge exchange,' the post stated. Mishra also held bilateral engagements with Kenya's Cabinet Secretary Kipchumba Murkomen on the sidelines of the summit, focusing on strengthening India-Kenya cooperation in disaster risk reduction and sharing best practices. 'Principal Secretary to PM meets Cabinet Secretary Kipchumba Murkomen of Kenya on the sidelines of GPDRR2025 Geneva. Productive discussions on strengthening India-Kenya cooperation in various areas, including disaster risk reduction, sharing best practices in DRR, and building resilient communities together,' the Permanent Mission of India at Geneva stated in a post on X. The Principal Secretary also held another productive discussion with the Philippines' Secretary Renato U. Solidum Jr, exploring synergies in DRR to build resilient futures. 'Productive bilateral engagement at GPDRR 2025 Geneva, as Principal Secretary to PM holds discussions with DOST Philippines. Secretary Renato U. Solidum Jr of Philippines. Exploring synergies in DRR, building bonds for safer, more resilient futures!' The Permanent Mission of India at Geneva stated in another post on X. (ANI)
Time of India
4 days ago
- Business
- Time of India
India showcases world's largest DRR financing system at UN disaster platform in Geneva
Principal Secretary to the Prime Minister, PK Mishra, highlighted India's robust Disaster Risk Reduction (DRR) financing system--cumulatively exceeding USD 28 billion--and called for concrete, time-bound outcomes and the creation of a global facility for catalytic funding, technical assistance, and knowledge exchange. While delivering India's statement at the 8th Global Platform for Disaster Risk Reduction (GPDRR) 2025 in Geneva on Wednesday (local time), Mishra commended the United Nations Office for Disaster Risk Reduction (UNDRR) and its partners for convening the ministerial roundtable on DRR financing , emphasising that its journey from a USD 1 million allocation to a projected USD 42 billion under the 16th Finance Commission underscores the importance of a rule-based, structured financing architecture backed by the Disaster Management Act of 2005 . "India commends the UNDR and its partners for convening this important ministerial roundtable on Disaster Risk Reduction (DRR) financing. We also appreciate the efforts made by Brazil and South Africa in continuing the global dialogue on this vital subject through their respective G20 presidencies," Mishra noted in the opening statement. "For India, DRR financing is not a territorial issue -- it is central to the effective functioning of disaster management systems and the protection of development gains in an era of escalating climate and disaster risks. India believes that a robust and responsive DRR financing architecture is a cornerstone of resilience. Our journey has evolved steadily and purposefully -- starting from an allocation of approximately USD 1 million through the early Finance Commissions, our cumulative outlay now exceeds USD 28 billion and is expected to rise to USD 42 billion under the 16th Finance Commission. India's experience underscores the importance of rule-based, pre-determined allocations that flow seamlessly from the national to the state and district levels. This system is backed by a strong legislative foundation -- the Disaster Management Act of 2005 -- which has transformed disaster financing from a reactive mechanism into a structured and predictable system," he further added. According to a post on X by the Permanent Mission of India at Geneva, India showcased the world's largest DRR financing system. Live Events "Principal Secretary to PM delivered India's statement at GPDRR 2025 Geneva, showcasing the world's largest nationally anchored DRR financing system. Called for concrete, time-bound outcomes and creation of a global facility for catalytic funding, technical assistance & knowledge exchange," the post stated. Mishra also held bilateral engagements with Kenya's Cabinet Secretary Kipchumba Murkomen on the sidelines of the summit, focusing on strengthening India-Kenya cooperation in disaster risk reduction and sharing best practices. "Principal Secretary to PM meets Cabinet Secretary Kipchumba Murkomen of Kenya on the sidelines of GPDRR2025 Geneva. Productive discussions on strengthening India-Kenya cooperation in various areas, including disaster risk reduction, sharing best practices in DRR, and building resilient communities together," the Permanent Mission of India at Geneva stated in a post on X. The Principal Secretary also held another productive discussion with the Philippines' Secretary Renato U. Solidum Jr, exploring synergies in DRR to build resilient futures. "Productive bilateral engagement at GPDRR 2025 Geneva, as Principal Secretary to PM holds discussions with DOST Philippines. Secretary Renato U. Solidum Jr of Philippines. Exploring synergies in DRR, building bonds for safer, more resilient futures!" The Permanent Mission of India at Geneva stated in another post on X. Economic Times WhatsApp channel )
