Disaster risk reduction in world economy

This issue of Southasiadisasters.net is titled 'Disaster Risk Reduction in World Economy' and focuses on the important theme of loss and damage incurred by assets due to disasters. This issue also provides a compendium of best practices and initiatives such as countrywide risk transfer programmes that provide a coping mechanism to the respective economies when faced with massive loss and damage from disasters. Another interesting theme explored in this issue is the unfair structure of climate finance that can potentially keep developing countries in a perpetual debt trap.

Increasing levels of globalization also imply greater risks for globalized supply chains. An extreme event in one part of the world can disrupt an entire global value chain causing a crisis in another part of the world. The onus is now on world leaders to take up resilience building measures for protecting the world economy from the onslaught of repeated disasters.