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Boosing Resilience Through Innovative Risk Governance - Flyer

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OECD publication, to be launched on 5 May 2014, identifies measures to minimise economic and social damage and help economies recover rapidly after a disaster. It proposes a fundamental shift in risk …

OECD publication, to be launched on 5 May 2014, identifies measures to minimise economic and social damage and help economies recover rapidly after a disaster. It proposes a fundamental shift in risk governance, whereby risk management actors are encouraged, through appropriate incentives, to help boost resilience, rather than rely on government for post-disaster assistance. Further information available at www.oecd.org/gov/risk/boosting-resilience-through-innovative-risk-management.htm

Published in: Government & Nonprofit

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  • 1. This report identifies measures to minimise economic and social damage and help economies recover rapidly after a disaster. It proposes a fundamental shift in risk governance, whereby risk management actors are encouraged, through appropriate incentives, to help boost resilience, rather than rely on government for post-disaster assistance. GROWING UNCERTANTIES AND VULNERABILTIES Large scale natural and human-induced disasters generate considerable economic losses. Total damages in OECD and BRIC countries over the last decade have been estimated at nearly USD 1.5 trillion. The Canterbury earthquake in New Zealand in 2011 caused damages equivalent to 20% of annual GDP, and the 2010 earthquake Chile resulted in losses worth 10% of GDP. The Great East Japan Earthquake of 2011 exemplifies both the uncertainty and growing vulnerability of OECD economies to such events, which can have far-ranging and long-term global impact. Vulnerabilities stem from a number of socio-economic trends: • An increased concentration of population - especially the elderly, more vulnerable groups - and economic assets in risk prone areas. • Accelerated urbanisation. • Increased global economic integration, facilitated by transport mobility and communication. • Deteriorating environmental conditions coupled with climatic changes. BOOSTING RESILIENCE THROUGH INNOVATIVE RISK GOVERNANCE 0 50 100 150 200 250 300 350 1980 1982 1984 1986 1988 1990 1992 1994 1996 1998 2000 2002 2004 2006 2008 2010 2012 AnnualeconomiclossesinUSDbillion 0% 5% 10% 15% 20% 25% 30% 35% 40% 45% 2009 2050 www.oecd.org/gov/risk/boosting-resilience-through-innovative-risk-management.htm @OECDgov OECD Public Governance & Territorial Development Economic losses due to disasters in OECD and BRIC countries 1980-2012 (USD Billion) Source: EM-DAT % of population aged 65 and over Source: OECD (2009)
  • 2. RISK OWNERSHIP Emphasise the role of risk ownership by increasing risk communication, raising awareness, engaging in dialogue on risk among all stakeholders, owners and managers of risks. REWARDS Build a culture of rewards that encourages proactive behaviour to increase resilience. TRUST Emphasise the role of trust prior to disasters to avoid costly measures to restore trust in the aftermath of an event. Transparency and accountability in managing resilience are key factors in maintaining trust in the long run. COOPERATION Encourage joint action through international collaboration, public-private partnerships and across governmental sectors and levels to address the trans-boundary and complex nature of future risks. SHARING Increase the collection and sharing of risk information by taking advantage of “Big Data”. Triangulate information from governments and the private sector as well as information from web-based sources. MONITORING Ensure that resilience measures adapt to changing risk patterns by monitoring and evaluating risk trends and efforts based on multi-hazard analyses. BOOSTING RESILIENCE THROUGH INNOVATIVE RISK GOVERNANCE MOVING RISK GOVERNANCE TO INCLUSIVE POLICY MAKING Against this backdrop, policy makers need to focus attention on strengthening resilience. To this end, the report proposes a fundamental shift in risk governance. Such a shift can only be effected by making policy processes more inclusive, raising awareness of risks and encouraging stakeholders at all levels to contribute to a shared vision of a resilient society. Governments should provide incentives for individuals and companies to invest in self-protection. They should tap into the potential of the private sector to supply risk reduction solutions, while working with them to agree on business continuity standards. Collective action should be fostered nationally, but also across countries so that resilience projects serve a common functional need. FROM DIAGNOSTICS TO ACTION POLICY RECOMMENDATIONS www.oecd.org/gov/risk/boosting-resilience-through-innovative-risk-management.htm @OECDgov OECD Public Governance & Territorial Development Emergency measures Short-term measures Medium- term measures Long-term measures: prevention and mitigation Disruptive Shock RESILIENCE Capacity and speed of regaining function after a disruptive shock

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