Catalyzing climate and disaster resilience: processes for identifying tangible and economically robust strategies

Catalyzing climate and disaster resilience: processes for identifying tangible and economically robust strategies

The economic benefits to society of investing in disaster risk management substantially exceed the costs. Appropriately designed risk reduction strategies represent a sound investment that is central both to alleviating poverty and to responding to the expected impacts of climate change on lives and livelihood systems.

This paper evaluates the cost and benefits of disaster risk reduction on climate change and disaster resilience in India, Nepal and Pakistan. This core finding emerges from detailed analysis of avenues for reducing flood and, to a lesser extent, drought risks in these countries. It is now widely recognised that recurrent disasters weaken the ability of regions, nations and global community to meet basic development goals.

Overall, the study observes that when conducted though an open and transparent process cost-benefit analysis provides a useful tool for supporting decision-making and policy development for disaster risk reduction. However, the limitations and complexities in applying cost- benefit analysis should also be considered. This is particularly true for weather related disasters where climate change processes make it difficult to characterize future conditions.

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