Climate Physical Risk (CPR)
Kartavya Desk Staff
Syllabus: Disaster Management
Source: TH
Context: Union Home Minister recently emphasized the need for proactive climate risk assessments amidst rising extreme weather events. The article highlighted India’s fragmented approach to Climate Physical Risk (CPR) and called for a unified national framework.
About Climate Physical Risk:
What is Climate Physical Risk (CPR)?
• Definition: CPR refers to potential damage from acute (e.g. floods, heatwaves) and chronic (e.g. shifting rainfall patterns, droughts) climate events.
• Formula: As per IPCC, CPR = Hazard × Exposure × Vulnerability.
• As per IPCC, CPR = Hazard × Exposure × Vulnerability.
• Features:
• Hazard: Refers to climate-induced events like floods, cyclones, droughts, or wildfires that pose direct environmental threats.
• Exposure: Denotes the presence of people, infrastructure, or economic assets in areas susceptible to hazards.
• Vulnerability: Captures the ability of systems, communities, or infrastructure to withstand and bounce back from these
Global & Indian Context:
• Global Context:
• Mandatory Climate Disclosures: Countries now require companies to disclose physical climate risks under standards like ISSB S2 and the EU Taxonomy. Universal Relevance: Both Global North and South face extreme events—e.g., heatwaves in Europe and wildfires in the US.
• Mandatory Climate Disclosures: Countries now require companies to disclose physical climate risks under standards like ISSB S2 and the EU Taxonomy.
• Universal Relevance: Both Global North and South face extreme events—e.g., heatwaves in Europe and wildfires in the US.
• Indian Context:
• High Exposure: Over 80% of Indians live in districts prone to climate disasters, including floods, droughts, and heatwaves (World Bank). Fragmented Framework: CPR data is dispersed across IMD, IITs, and NIDM without a standardised, national-level risk assessment system.
• High Exposure: Over 80% of Indians live in districts prone to climate disasters, including floods, droughts, and heatwaves (World Bank).
• Fragmented Framework: CPR data is dispersed across IMD, IITs, and NIDM without a standardised, national-level risk assessment system.
Key Challenges in India’s CPR Management:
• Fragmentation: CPR studies are isolated across ministries, lacking standardisation.
• Modelling Issues: Global models like RCPs/SSPs miss India’s hyper-local climate variations.
• Data Gaps: No central repository for risk metrics at district or panchayat level.
• Private Sector Barriers: Limited tools for businesses to assess value chain exposure.
Initiatives Taken So Far:
• Adaptation Communication (2023): India submitted its first climate adaptation report to UNFCCC under Article 7 of the Paris Agreement.
• National Adaptation Plan (NAP): Work is underway for a full NAP covering nine sectors with district-level detailing.
• RBI Framework: Incorporating climate risks into India’s financial sector supervision mechanisms.
Way Forward:
• India-Specific CPR Tool: Must include local climate modelling, real-time risk dashboards, and sector-wise vulnerability indices.
• Central Risk Repository: Enable data-sharing across ministries, states, and private entities.
• Financial Alignment: Direct climate finance to adaptation (e.g. resilient roads, heat-resilient crops).
• Public-Private Partnerships: Empower industries to map risks and integrate climate resilience in ESG and sustainability audits.
• Transparent Standards: Use science-based methodologies with real-time data integration and citizen feedback loops.
Conclusion:
India’s development must be climate-proofed. CPR is not just a risk metric — it’s a governance imperative. A unified, locally rooted, and future-ready system is essential to turn resilience from buzzword to blueprint.
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