New Delhi, March 26 -- Risk transfer instruments can offer cost-effective alternatives to measures aimed at mitigating significant long-term climate threats to the economy, said Amit Prothi, director general of the Coalition for Disaster Resilient Infrastructure (CDRI).

CDRI, a multilateral organization based in New Delhi, was launched by Prime Minister Narendra Modi at the 2019 United Nations (UN) Climate Action Summit.

Risk transfer instruments such as catastrophe bonds, reinsurance and Insurance can provide optimal solutions which can be funded through the public-private partnership (PPP) mechanism.

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Catastrophe bonds allow the transfer of r...