Chinmaya IAS Academy – Current Affairs Chinmaya IAS Academy – Current Affairs
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Recently, a global coalition of ten organisations launched the Global Resilience Index Initiative (GRII).
Important points:
- It was launched during the Conference of Parties (CoP) 26 adaptation day (8th November 2021), it will be the world’s first curated, open-source reference index.
- It has been launched to build a universal model for assessing resilience to climate risks.
- It will provide reference data on climate and natural hazard risks to inform and protect populations and economies, particularly in emerging and developing countries, form a basis for mobilising the trillions of investment needed to meet the Paris goals on climate-resilient development.
- It can be used in aggregated risk management across sectors and geographies.
Significance:
- 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.
- It will help global economic sectors understand, in concrete terms, the value of building climate resilience and the costs of doing nothing, this will address the data emergency that is contributing to the climate crisis.
- It will enable asset owners to compare portfolio risks across geographies and hazards, as well as helping countries to prioritise national adaptation investments.
