“I’m sure the regulators globally are looking at this. There is...
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Disaster & Management
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Major global IT outage grounds flights, hits banks and businesses around the world
A global tech outage that appeared to be related to issues at...
World Bank eyes first ‘drought’ bond in next 12-18 months
“We would love to do something in the drought space, that is...
Quake hits Japan area devastated a decade ago, tsunami alerts lifted
Tokyo Electric Power said it had found no irregularities at its Fukushima Daiichi nuclear plant – wrecked by the massive March 2011 quake that caused nuclear meltdowns and mass evacuations. A spokesman said there were also no irregularities at its nearby Daini facility.
Need chopper landing facilities at eco-sensitive zones for rescue operations: Par panel
The committee ”stressed the need for close monitoring of ecological changes using the latest technology available, to prevent such natural disasters.
It also advised the ministry to actively engage with National Disaster Response Force (NDRF) regularly. On February 7, 2021, a glacier broke off in Joshimath in Uttarakhand’s Chamoli district killing more than 65 people while over 130 were missing. The burst caused a massive flood in the Dhauli Ganga river and endangered lives and disrupted activities of people living along its banks and nearby areas.
Heavy rains in Australia’s east bring worst floods in 50 years
“Yesterday, we were hoping it will only be a one-in-20-year event, now it looks like a one-in-50-year event,” New South Wales Premier Gladys Berejiklian said at a televised briefing. People in parts of Sydney’s northwest were ordered to flee their houses in the middle of the night as fast-moving waters caused widespread destruction. Late on Sunday, about another 1,000 people were asked to evacuate, after Berejiklian said that some 4,000 people may be asked to leave their houses.
Natural disasters occurring three times more often than 50 years ago: new FAO report
The least developed and low to middle income countries have fared worst of all. From 2008 to 2018, natural disasters have cost the agricultural sectors of developing economies more than $108 billion in damaged crop and livestock production.
Over the same period, Asia was the most hard-hit region, with overall economic losses of $49 billion, followed by Africa at $30 billion, and Latin America and the Caribbean at $29 billion.
63 nations to see ratings downgrades by 2030 for ignoring climate change
The U.S. is projected to lose 20 per cent of its per-capita gross domestic product by 2050 in a worst-case scenario, with nations closer to the equator or with high-carbon economies even more vulnerable, according to the FTSE Russell report.
Malaysia could see the worst economic hit at 31 per cent. The projections, based on trends of greenhouse-gas emissions and countries’ mitigation efforts, show the risk for investors of long-term bets on sovereign bonds.
Climate-change linked downgrades could cost countries $270 billion-a-year
The estimates comes amid warnings by policy makers from around the world that financial markets are underpricing the risk of climate change on asset prices, with potentially costly future corrections.
10 Years After Nuclear Disaster, How Dangerous Is the Fukushima Plant?
The plant’s operator, Tokyo Electric Power Co., says the tsunami couldn’t have been anticipated, but reports from government and independent investigations and recent court decisions described the disaster at the plant as human-made and a result of safety negligence, lax oversight by regulators and collusion.
HDFC ERGO Gen launches cover to protect balance sheet of MFIs, FIs and banks against natural disasters
Over the past few years, rising natural calamities such as floods and cyclone, have impacted the livelihoods of people residing in these calamity-prone areas. Moreover, such calamities also severely impact the lending businesses in these areas. Business Kisht Suraksha aims to address these concerns by indemnifying against these climatic changes whilst also protecting financial institutions from rising NPAs occurring due to the impact of natural disasters, explained Anurag Rastogi, Chief Actuary & Chief Underwriting Officer, HDF ERGO General Insurance
Why world’s power grids are increasingly vulnerable to cyber attacks
“Essential state infrastructures like power grids and nuclear reactors have been and will continue to be a target of cyber attacks because modernization allows internet connectivity, which makes them vulnerable,” said Kim Seungjoo, a professor at Korea University’s School of Cybersecurity.
“It’s almost a natural instinct of hackers, especially the state-sponsored ones, to attack energy infrastructure because they can easily disrupt national security.”
International Conference On Disaster Resilient Infrastructure to be held from 17 – 19 March
ICDRI 2021 is a three-day interactive virtual conference • It will be held from 17 – 19 March 2021 • Prime Minister of India Narendra Modi is scheduled to make the inaugural speech for the event • ICDRI 2021 constitutes of a virtual exhibition – Marketplace • Online courses are being offered before, during and after the conference via Masterclass Register Now https://icdri.cdri.world/Register.html