Financial mechanisms formulated to reduce vulnerability to disasters by employing structured instruments such as insurance policies and catastrophe bonds which spread risks in exchange for a premium.
24 Sep 2014, UNISDR
'This is a giant step for sustainable development. In the long-term, many lives can be saved and billions of dollars in potential losses from extreme events can be avoided in the future if we succeed in integrating climate and disaster risk into the very heart of our economic decision making,' said Margareta Wahlström, the head of UNISDR...
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