This report provides insights about the patterns of stakeholder engagement in the international framework agreements related to disaster risk reduction, climate change and sustainable development over the last five decades. It presents the complex stakeholder landscape, multi-stakeholder initiatives in extreme event and climate risk management as well as highlights major developments in expanding risk transfer and insurance, over the last decade.
The rapid increase in global economic losses from disasters has put the spotlight on insurability. The report finds that since 2005, there has been a burst of multi-lateral multi-stakeholder initiatives in disaster and climate risk management. These are categorized under four main areas:
- Enhance risk knowledge and risk assessment capacities;
- Promote an integrated approach to managing disaster and climate risks;
- Initiate and innovate in risk transfer solutions;
- Facilitate risk transfer solutions (or mechanisms) for the agriculture sector.
These areas remain active but fragmented. Implementing an integrated approach to disaster and climate risk management requires a new path to strategic partnerships that leverage the strengths of the engaged stakeholders, avoid redundancies and align priorities.
In addition, with a number of factors challenging the expansion of risk transfer around the world, scalability and sustainability remain a central concern.