Research: Boosting Resilience through Innovative Risk Governance
Preliminary version
OECD
05 May 2014 148 pages
ISBN : 9789264209114 (PDF) ; 9789264209107 (print) DOI :10.1787/9789264209114-en READ
From media release/content page
Report calls for fundamental shift in risk governance to boost resilience against large-scale disasters
Large-scale natural and human-induced disasters have generated over USD 1.5 trillion in economic damages over the last decade in OECD and BRIC countries. Single events have exceeded damages worth 20% of annual GDP. Resilience of OECD countries is particularly challenged during times of economic downturns, above all in countries that rely on state budgets for post-disaster loss financing.
A shift in risk governance is required as governance obstacles hamper the effectiveness of current risk reduction investments. The report urges governments to address widespread disincentives that persist for governmental and also non-governmental risk management actors, leading to an over-reliance on the government for post-disaster risk financing.
Abstract
This report examines what countries have achieved in terms of strengthening resilience through better risk management and identifies persisting challenges. It focuses on the importance of creating an institutional environment that engages all stakeholders and allows them to build resilience against future shocks. This report has contributed to the development of the OECD Recommendation on the Governance of Critical Risks