The Delhi-based Coalition for Disaster Resilient Infrastructure (CDRI) has stated that the world requires $9.2 trillion annually in disaster-resilient infrastructure. The upgraded infrastructure will help society achieve its net zero and sustainable development goals by 2050.
In its inaugural biennial report, CDRI emphasized the political and economic justification for investing in disaster-resilient infrastructure to mitigate climate-related disaster effects.
Key highlights:
The report reveals that disaster and climate risk-related asset loss and service disruptions globally result in an average annual loss of over $700 billion, primarily affecting low-income countries.
• 60% of the infrastructure needed by 2050 for sustainable development and net zero emissions is yet to be constructed
• An annual $9.2 trillion investment is required to tackle infrastructure deficits
• $2.76 trillion must be allocated to low- and middle-income countries
• China, India, Japan, and the US are predicted to account for 50% of global infrastructure investment, with 80% within the G20 alone in the coming years
The importance of a resilient infrastructure for net zero:
Infrastructure investment in low-income countries is slowing down. Investing in resilience is crucial for the long design lifecycles of many infrastructure assets to shape development trajectories for the coming decades.
Inadequate planning, design, standards, regulation, compliance, maintenance, operation, and governance are the main causes of the global infrastructure deficit.
Impact:
Neglecting resilience could result in stagnant social and economic development, stranded infrastructure assets, increasing liabilities, unreliable services, and growing existential risk.
Alternately, investing in infrastructure resilience can lead to quality essential services, reduced damage to assets, lower systemic risk, and sustainable social and economic development.