Managing the risk of extreme events in a changing climate: Trends and opportunities in the disaster-related funding landscape

Building on the premise that climate change adaptation must effectively manage the rising risk of climate-related disasters, this publication outlines three categories of activities to which resources can be allocated for this purpose: disaster risk reduction, disaster response and reconstruction and action based on scientific evidence of increased levels of risks (forecast-based financing).

The authors suggest that a combination of all existing approaches to manage disaster risk will be required to effectively manage the rising risk of climate-related disasters, including risk reduction, response, recovery, and reconstruction (IPCC, 2012). For all three categories, adaptation financing has the potential to be the “oil in the machinery” for climate risk management. However, the most effective strategies will have a stronger emphasis on anticipation and resilience.

This document is an input paper of the 2015 Global Risk Assessment on Disaster Risk Reduction.