GAR 2015 Main Report

Managing risk, rather than managing disasters as indicators of unmanaged

risk,

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.

	ix Managing risk, rather than managing disasters as indicators of unmanaged risk, 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 ) 1. prospective risk management, which aims to avoid the accumulation of new risks; 2. corrective risk management, which seeks to reduce existing risks; 3. 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.	Page 1 Page 1 Page 2 Page 3 Page 4 Page 5 Page 6 Page 7 Page 8 Page 9 Page 10 ->Page 11 Page 12 Page 13 Page 14 Page 15 Page 16 Page 17 Page 18 Page 19 Page 20 Page 21 Page 22 Page 23 Page 24 Page 25 Page 30 Page 40 Page 50 Page 60 Page 70 Page 80 Page 90 Page 100 Page 110 Page 120 Page 130 Page 140 Page 150 Page 160 Page 170 Page 180 Page 190 Page 200 Page 210 Page 220 Page 230 Page 240 Page 250 Page 260 Page 270 Page 280 Page 290 Page 300 Page 310