How can we assess the real costs of disasters? The benefits of shared international efforts to build better evidence for investing in DRR

Event Summary

Organization: OECD

Description

Date: Tuesday, May 15th, 11:30am – 1:00pm

Room: C10

Disasters disrupt socio-economic activities and cause substantial damage. Yet, their full economic impact remains largely unknown, especially the cost of smaller disasters and indirect impacts such as those due to business disruptions. Similarly, little information exists on the total amount of public resources that countries devote to disaster risk management. Reliable, comprehensive and comparable data on the economic impact of disasters as well as on public spending on disaster management and risk prevention are essential for developing effective disaster risk management policies. This session will benefit from the insights of a recent OECD project highlighting country practices regarding the quality of existing data and their use for policy making in disaster risk management contributing to the implementation of the Sendai Framework, and suggesting some way forward.