Need to change ways of investments to reduce disaster impact: UK envoy

There is a need to fundamentally change the way investments are done to reduce the impact of disasters due to climate change, UK's envoy to India Dominic Asquith said on Thursday. Speaking at Climate Leadership Conference, Asquith said there is a need to promote businesses that factor in climate risk and incentivise buildings with resilience.

"We need to fundamentally change the way we invest to secure resilience against the change in climate," he said. The envoy said the United Kingdom is closely working with Indian states in this regard.

"That is why India's Mahatma Gandhi guaranteed employment programmes like MNREGA is one of the largest world protection programmes providing work with dignity, but it is important to ensure that development gains from it are sustainable and not undermined because of the impact of climate change," Asquith said. "That is why we have been working in partnership with India to climate-proof the infrastructure assets built under the scheme by creating physical assets that are more resilient. We have to build resilience and need to take smart and forward looking decisions into account," he said.

The ambassador said both the UK and India are committed to lead the fight against climate change and promote secure, affordable and sustainable environment. "Our two governments have put together a total of 240 million pounds to make investments in renewable energy and green transportation in energy efficiency, waste management and green technologies," he said.

PTI UZM SRY