Climate Change - Assurance Fund
Climate change has brought an additional dimension to disaster risks in the Indian Himalayan Region as it is projected to exacerbate the intensity and magnitude of various natural hazards such as storms, high-intensity rainfall events, heat waves, floods and droughts. As per the IPCC the projections suggest high probability for an increasing trend in the high-intensity and low probability events. These increased catastrophic risks will further undermine the developmental gains already made in the region. Therefore in order to cope up with the adverse effects of changing farmer we need:
To promote emphasis on risk mitigation compared to the current response-driven mechanisms;
To provide a cost-effective way of coping with the financial impacts of climate- and weather-induced hazards;
To support climate change adaptation by covering the residual risks uncovered by other risk reduction mechanisms such as building regulations, land-use planning and disaster risk management plans;
To stabilise rural incomes and hence reduces the adverse effects on income fluctuation and socio-economic development;
To provide opportunities for public-private partnerships;
To reduces burden on government resources for post-disaster relief and reconstruction;
To help communities and individuals to quickly renew and restore their livelihood activity; and
To addresses a wide variety of risks emanating from climatic and non-climatic origin, depending on the way the insurance products are designed.
Assurance Fund Notified:
The Government of Himachal Pradesh has notified the Assurance Fund vide notification dated 25/10/2019:
Government of Himachal Pradesh
Department of Environment, Science & Technology
No. STE-A(9)-8/2019 dated: Shimla 2 25/10/2019
In pursuance of the decision of 8th State level Project Steering Committee meeting held on 2nd September, 2019 an Assurance Fund is hereby created in DC Office, Sirmaur for the beneficiaries of the SLADRC (Sustainable Livelihood of Agriculture Dependent Rural Communities in Drought Prone District of HP through Climate Smart Solutions) project supported by the MoEF&CC, GoI under NAFCC (National Adaptation Funds for Climate Change for implementation in three development blocks (Pachhad, Paonta Sahib & Sangrah) of district Sirmaur.
The Assurance Fund will be operated as per the guidelines, byelaws mentioned at Annexure-A.
Addl. Chief Secretary (Env.,S&T) to the
Government of Himachal Pradesh, Shimla-2.
Encl.: As above. Endst No. STE/_____/2019 Dated: Shimla 2 _______2019
Copy forwarded for information & necessary action to:
1. The Joint Secretary (CC Division), MoEF&CC, GoI, New Delhi.
2. The Director, Deptt. of Env.,S&T, Shimla, HP-1.
3. The Deputy Commissioner, District Sirmaur, HP.
4. The CGM, Regional Office, NABARD, Shimla.