Improving the Assessment of Disaster Risks to Strengthen Financial Resilience : A Special Joint G20 Publication by the Government of Mexico and the World Bank
Rising losses from adverse natural events are compelling leaders of countries to develop more proactive approaches to risk management. In 2011 the world witnessed record losses from disasters caused by natural hazards with estimated costs of up to...
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World Bank, Washington, DC
2017
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| Online Access: | http://documents.worldbank.org/curated/en/606131468149390170/Improving-the-assessment-of-disaster-risks-to-strengthen-financial-resilience http://hdl.handle.net/10986/26784 |
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okr-10986-267842021-04-23T14:04:38Z Improving the Assessment of Disaster Risks to Strengthen Financial Resilience : A Special Joint G20 Publication by the Government of Mexico and the World Bank Government of Mexico World Bank Disaster Risk Assessment Disaster Risk Management Strategy Financial Resilience G20 Risk Models Urban Planning Landslide Contingent Liability Management Risk Transfer Disaster Resilience Earthquake Service Continuity Natural Disaster Quantification of Disaster Losses and Exposures Rising losses from adverse natural events are compelling leaders of countries to develop more proactive approaches to risk management. In 2011 the world witnessed record losses from disasters caused by natural hazards with estimated costs of up to US$380 billion. Events in both developed and developing countries have shown that this is not a threat facing just one part of the world. In this context, the Mexican G20 Presidency included this growing threat to sustainable development on the group's agenda, a decision which was welcomed by G20 finance ministers and central bank governors. The economic costs of disasters complicate public financial management for many countries. Natural hazards are nondiscriminatory, potentially affecting all countries irrespective of economic status. The negative fiscal impacts of disasters can hamper longer-term growth and economic development. While lower income countries bear the brunt of the human impact from disasters, middle income countries experience the largest economic impact relative to GDP. Responding to a G20 mandate, this publication brings together the experiences of G20 countries in protecting their populations and assets against natural hazards. Prevention is better than cure; there is a need to raise awareness about disaster risks and their potential financial consequences. Increased resilience and sustainable development will require a more proactive approach to tackle risk at its roots. Preparedness measures to cope when disasters strike need to be combined with ex ante measures to avoid disasters in the first place. The need for better information on adverse natural events and associated economic, fiscal and social impacts emerges as a key message. Countries can strengthen their financial resilience to disasters. Governments should stimulate innovative financial solutions with and leverage the technical and financial capacity of the reinsurance and capital markets through public private partnerships. 2017-05-30T20:53:38Z 2017-05-30T20:53:38Z 2012 Report http://documents.worldbank.org/curated/en/606131468149390170/Improving-the-assessment-of-disaster-risks-to-strengthen-financial-resilience http://hdl.handle.net/10986/26784 English en_US CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo World Bank World Bank, Washington, DC Publications & Research :: Working Paper Publications & Research |
| repository_type |
Digital Repository |
| institution_category |
Foreign Institution |
| institution |
Digital Repositories |
| building |
World Bank Open Knowledge Repository |
| collection |
World Bank |
| language |
English en_US |
| topic |
Disaster Risk Assessment Disaster Risk Management Strategy Financial Resilience G20 Risk Models Urban Planning Landslide Contingent Liability Management Risk Transfer Disaster Resilience Earthquake Service Continuity Natural Disaster Quantification of Disaster Losses and Exposures |
| spellingShingle |
Disaster Risk Assessment Disaster Risk Management Strategy Financial Resilience G20 Risk Models Urban Planning Landslide Contingent Liability Management Risk Transfer Disaster Resilience Earthquake Service Continuity Natural Disaster Quantification of Disaster Losses and Exposures Government of Mexico World Bank Improving the Assessment of Disaster Risks to Strengthen Financial Resilience : A Special Joint G20 Publication by the Government of Mexico and the World Bank |
| description |
Rising losses from adverse natural
events are compelling leaders of countries to develop more
proactive approaches to risk management. In 2011 the world
witnessed record losses from disasters caused by natural
hazards with estimated costs of up to US$380 billion. Events
in both developed and developing countries have shown that
this is not a threat facing just one part of the world. In
this context, the Mexican G20 Presidency included this
growing threat to sustainable development on the
group's agenda, a decision which was welcomed by G20
finance ministers and central bank governors. The economic
costs of disasters complicate public financial management
for many countries. Natural hazards are nondiscriminatory,
potentially affecting all countries irrespective of economic
status. The negative fiscal impacts of disasters can hamper
longer-term growth and economic development. While lower
income countries bear the brunt of the human impact from
disasters, middle income countries experience the largest
economic impact relative to GDP. Responding to a G20
mandate, this publication brings together the experiences of
G20 countries in protecting their populations and assets
against natural hazards. Prevention is better than cure;
there is a need to raise awareness about disaster risks and
their potential financial consequences. Increased resilience
and sustainable development will require a more proactive
approach to tackle risk at its roots. Preparedness measures
to cope when disasters strike need to be combined with ex
ante measures to avoid disasters in the first place. The
need for better information on adverse natural events and
associated economic, fiscal and social impacts emerges as a
key message. Countries can strengthen their financial
resilience to disasters. Governments should stimulate
innovative financial solutions with and leverage the
technical and financial capacity of the reinsurance and
capital markets through public private partnerships. |
| format |
Report |
| author |
Government of Mexico World Bank |
| author_facet |
Government of Mexico World Bank |
| author_sort |
Government of Mexico |
| title |
Improving the Assessment of Disaster Risks to Strengthen Financial Resilience : A Special Joint G20 Publication by the Government of Mexico and the World Bank |
| title_short |
Improving the Assessment of Disaster Risks to Strengthen Financial Resilience : A Special Joint G20 Publication by the Government of Mexico and the World Bank |
| title_full |
Improving the Assessment of Disaster Risks to Strengthen Financial Resilience : A Special Joint G20 Publication by the Government of Mexico and the World Bank |
| title_fullStr |
Improving the Assessment of Disaster Risks to Strengthen Financial Resilience : A Special Joint G20 Publication by the Government of Mexico and the World Bank |
| title_full_unstemmed |
Improving the Assessment of Disaster Risks to Strengthen Financial Resilience : A Special Joint G20 Publication by the Government of Mexico and the World Bank |
| title_sort |
improving the assessment of disaster risks to strengthen financial resilience : a special joint g20 publication by the government of mexico and the world bank |
| publisher |
World Bank, Washington, DC |
| publishDate |
2017 |
| url |
http://documents.worldbank.org/curated/en/606131468149390170/Improving-the-assessment-of-disaster-risks-to-strengthen-financial-resilience http://hdl.handle.net/10986/26784 |
| _version_ |
1764462831505244160 |