India, April 23 -- India is preparing to hardwire disaster resilience into infrastructure contracts and financing systems as a new report calls for mandatory risk assessments, redesigned contracts and new financing instruments to address rising climate risks.

The report, "Mainstreaming Disaster Resilience into Infrastructure Projects," by the Coalition for Disaster Resilient Infrastructure (CDRI), prepared with support from the Department of Economic Affairs (DEA), estimates that disasters cost India up to 2 per cent of gross domestic product annually while eroding government revenues by as much as 12 per cent. Globally, infrastructure losses are estimated at $732 billion to $845 billion annually, underscoring the scale of fiscal risk. ...