Global Assessment Report on Disaster Risk Reduction 2015
Making development sustainable: The future of disaster risk management

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Managing risk, rather than managing disasters as indicators of unmanaged
now has to become inherent to the art of development; not an add-on to
development, but a set of practices embedded in its very DNA. Managing the risks inherent in social and economic activity requires a combination of three approaches: (→ Chapter 13 )
prospective risk management, which aims to avoid the accumulation of new risks;
corrective risk management, which seeks to reduce existing risks;
compensatory risk management to support the resilience of individuals and
societies in the face of residual risk that cannot be effectively reduced.
Global average annual loss is estimated to increase up to US$415 billion by 2030 due to investment requirements in urban infrastructure alone. However, this growth in expected losses is not inevitable,as annual investments of US$6 billion in appropriate disaster risk management strategies could generate benefits in terms of risk reduction of US$360 billion. This is equivalent to an annual reduction of new and additional expected losses by more than 20 per cent.
Such an annual investment in disaster risk reduction represents only 0.1 per cent
of the US$6 trillion per year that will have to be invested in infrastructure over the next 15 years. But for many countries, that small additional investment could make a crucial difference in achieving the national and international goals of ending poverty, improving health and education, and ensuring sustainable and equitable growth. ( → Chapter 13 )
Managing risks rather than managing
disasters—Disaster risk reduction
needs to be reinterpreted.
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