“The report’s analysis makes it clear that economic losses from extreme weather events are unsustainable and a major brake on eradicating poverty in hazard exposed parts of the world.
“We have to do a much better job of capturing economic loss data if we are to have a fuller understanding of what works when it comes to reducing economic losses, saving lives and livelihoods, and managing disaster risk.”
While high-income countries recorded losses for 53% of reported disasters between 1998 and 2017, low-income countries only recorded them for 13% of disasters.
Professor Debarati Guha-Sapir, head of CRED, commented: “This report highlights the protection gap between rich and poor. Those who are suffering the most from climate change are those who are contributing least to greenhouse gas emissions. The economic losses suffered by low and lower-middle income countries have drastic consequences for their future development.
“Clearly there is great room for improvement in data collection on economic losses but we know from our analysis of the available data using georeferencing that people in low-income countries are six times more likely to lose all their worldly possessions or suffer injury in a disaster than people in high-income countries.”
The report concludes that climate change is increasing the frequency and severity of extreme weather events, and that disasters will continue to be major impediments to sustainable development so long as the economic incentives to build and develop hazard-prone locations outweigh the perceived disaster risks.
“Integrating disaster risk reduction into investment decisions is the most cost-effective way to reduce these risks; investing in disaster risk reduction is therefore a pre-condition for developing sustainable in a changing climate,” the report states.
Date:
10 Oct 2018
Sources:
United Nations Office for Disaster Risk Reduction (UNISDR)
Themes:
Climate Change, Advocacy & Media, Disaster Risk Management, Critical Infrastructure
Hazards:
Cyclone, Drought, Earthquake, Heat Wave, Tsunami, Volcano, Wild Fire
Regions:
Africa, Americas, Europe, Asia, Oceania