Transport assets worth $400 bn in India exposed to climate hazards: Report

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Transport assets worth $400 bn in India exposed to climate hazards: Report - Business Standard

Quick Summary:

The South Asian region faces cascading economic losses due to climate risks, with disruptions in transport having cascading effects on key sectors such as manufacturing, agriculture, and services among others, as per the report jointly published by Boston Consulting Group (BCG) and Coalition for Disaster Resilient Infrastructure (CDRI).

Transport assets worth approximately USD 575 billion in South Asia, including USD 400 billion in India, are exposed to climate hazards and rapid deployment of resilience measures needed to prevent risk to the sector which contributes significantly to the region's GDP, according to a report.

With the frequency and severity of climate events in South Asia escalating sharply in recent years, the cost of inaction in South Asia is staggering and without strategic interventions, climate risks could derail decades of development progress, the report titled 'Transport Infrastructure Reimagined: Forging Resilient Connections ' An Integrated Framework to ...