India, UK, Australia to launch new group IRIS

India and others are creating a new group IRIS

 India, UK, Australia to launch new group IRIS

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• The story: India, Australia, the UK and small island developing states (SIDS) will be launching a new initiave for Infrastructure for Resilient Island States (IRIS) on the sidelines of the upcoming Conference of Parties (COP26). It is aimed at creating a coalition for putting in place infrastructure that can withstand disasters and lessen economic losses in island nations.
• Details: Australia, India and the UK have committed an initial funding of $10 million for IRIS. More countries, including Japan, are expected to contribute to the initiative. IRIS is currently at the inception stage. PM Modi, expected to be in Glasgow for the United Nations climate change conference for two days, is likely to launch IRIS.

1. The concerns of the most vulnerable nations and communities must come first.
2. In this regard, the Small Island Developing Nations that are already experiencing the impacts of worsening disasters must have easy access to all the technology, knowledge and assistance that they consider necessary.
3. For SIDS, losses from disaster, including infrastructure, is the highest as a percentage of gross domestic product (GDP). The idea is to support the planning process, build capacity as well as infrastructure in an inclusive way that meets the needs of user groups.

• SIDS: The SIDS, comprising 58 countries in the Caribbean, Pacific, Atlantic, Indian Ocean, Mediterranean and South China Sea regions, are among the most vulnerable countries to geophysical and hydro-meteorological hazards. The impact of climate change in the form of tsunamis, cyclones, earthquakes and heavy rains are more frequent and intense in many of these countries. Susceptibility to very high relative economic losses due to disasters averages in the range of 1-10 per cent of GDP annually. SIDS accounts for two-thirds of the countries in the world that suffer the highest relative losses due to disasters. According to the Asian Development Bank and Inter-American Development Bank, infrastructure investment deficit in the Pacific and the Caribbean SIDS is $42 billion and $46 billion, respectively, over a period of 2015-2040.
• EXAM QUESTIONS: (1) Why is India pushing for IRIS at the COP26? Explain. (2) What are the specific concerns of island nations? Explain.

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