Government officials, industry experts and private sector representatives from over 20 countries will attend the second meeting of the G-20 Disaster Risk Reduction Working Group (DRRWG) in Mumbai from 23 to 25 May.

The Group represents a commitment to explore innovative approaches to managing disaster risk and financing for sustainable development. By examining creative financing mechanisms, the meeting will aim to mitigate the impact of disasters on vulnerable communities.

The meeting will encompass four technical sessions and side events. These high-level deliberations will build upon the cross-cutting theme emerging from the first DRRWG meeting “Financing for Disaster Risk Reduction,” held in Gandhinagar from the 31st March to 1st April this year.

Notably, the Disaster Risk Reduction Working Group (DRRWG) is a subsidiary body of the G-20 that aims to enhance disaster risk reduction efforts globally.

This meeting has been strategically planned to immediately follow the Mid-Term Review (MTR) of the Sendai Framework for Disaster Risk Reduction 2015-2030, organized by the President of the General Assembly at the United Nations Headquarters in New York from 18th to 19th May.

Within this context, the G-20 platform stands resolute in its commitment to delivering all-encompassing solutions in alignment with the objectives of the Sendai Framework.

With G-20 nations grappling with a growing number of disasters and climate change-related risks, amounting to an estimated Annual Average Loss of $218 billion or nine per cent of average annual investment in infrastructure, the second DRRWG meeting assumes great significance.

Through high-level dialogues on financing for development, this meeting presents an opportunity to call for action on finance for Disaster Risk Reduction (DRR). The discussions will encompass public and private financing, social protection, knowledge sharing and international financing mechanisms for disaster response, recovery, and reconstruction.

Moreover, the DRRWG will host side events highlighting the significance of infrastructure risk assessment tools and data platforms, as well as the importance of adopting a ‘build back better’ approach that integrates ecosystem-based strategies and engages local communities.

Additionally, the meeting will address various other agendas, such as establishing a national framework, incentivizing private investments, and supporting disaster preparedness, which will contribute to building a more resilient future.

The second DRRWG meeting will have a substantial attendance from G-20 member countries, invited nations, international organizations, and important Indian key stakeholders, including the National Disaster Management Authority, Ministry of External Affairs, the National Institute of Disaster Management, and the National Disaster Response Force.