Earthquakes are one of the most destructive natural perils and can lead to severe economic, social and environmental impacts. Rapid urbanisation, the accumulation of assets in seismic areas – and, to some extent, increasing induced seismicity – have led to an increasing amount of exposure to earthquake risk in many parts of the world. The financial management of earthquake risk is a key challenge for individuals, businesses and governments in developed and developing countries, and the G20 Finance Ministers and Central Bank Governors and APEC Finance Ministers have recognised the importance of building financial resilience against these risks.
This report applies the lessons from the OECD’s analysis of disaster risk financing practices and the guidance in the OECD Recommendation on Disaster Risk Financing Strategies to the specific case of earthquakes. It provides an overview of the approaches that economies facing various levels of earthquake risk and economic development have taken to managing the financial impacts of earthquakes.
2015 Annual Global Climate and Catastrophe ReportGraeme Cross
Global Catastrophe Losses Remain Below Average in 2015 Despite Uptick in Disaster Events
Global natural disasters in 2015 combined to cause economic losses of USD123 billion, an amount 30 percent below the 15-year average of USD175 billion. However, the losses were just eight percent lower on a median basis (USD134 billion). The economic losses were attributed to 300 separate events, compared to an average of 269. The disasters caused insured losses of USD35 billion, or 31 percent below the 15-year mean of USD51 billion and 14 percent lower than the median (USD40 billion). It comprised the lowest total since 2009. This was the fourth consecutive year with declining catastrophe losses since the record-setting year in 2011. Notable events during the year included winter storms in the United States; extensive flooding in parts of India, the US, UK, and China; a major earthquake in Nepal; record-setting tropical cyclones in the Pacific Ocean; European windstorms; and massive forest fires in Indonesia. The top three perils, flooding, severe thunderstorm, and wildfire, combined for 59 percent of all economic losses in 2015. Despite 32 percent of catastrophe losses occurring inside of the United States, it still accounted for 60 percent of global insured losses. This speaks to a higher rate of insurance penetration in the country.
AUVSI 2012 - Natural Disasters: A Future View in the Use of RPASLaura Samsó, MSc
This document discusses how remotely piloted aircraft (RPAs) could assist during natural disasters through near-real-time monitoring, planning, and autonomous operations. It presents a future scenario where a high-level plan is uploaded to an RPA which then deploys a swarm of small RPAs to perform wide-ranging operations like surveillance, personnel location identification, and damage assessment using various sensors. The RPAs could help disaster management efforts across prevention, preparedness, response, and recovery phases by enhancing situational awareness and assisting emergency teams. However, challenges around autonomy, automatic target recognition, communications, and human factors integration would need to be addressed for such operations.
The document discusses Pakistan's vulnerability to natural and human-induced disasters due to its geo-physical conditions, climate extremes, and high levels of exposure and vulnerability. It notes that the 2005 earthquake and 2010/2011 floods revealed weaknesses in Pakistan's capacity to manage disasters and reduce risks. The policy aims to provide a guiding framework to address high disaster risks by promoting risk reduction measures and ensuring development strengthens resilience. It identifies key challenges as low risk knowledge, development not being risk-conscious, and insufficient disaster risk reduction capacity at all levels of society.
Paris agreement westafrica diagnosis capacity needsPatrickTanz
This document analyzes the implementation of the Paris Climate Agreement in West Africa. It examines the Nationally Determined Contributions and capacity building needs in the region. West Africa faces significant climate change impacts like rising temperatures and changing rainfall patterns. Regional organizations can help coordinate the response by supporting national policies and initiatives. The document reviews the NDCs of 17 West African countries and finds heterogeneity in their commitments and progress. It also identifies capacity building as key, and analyzes the needs expressed by these countries, such as needs related to planning, reporting, and climate finance. Regional cooperation is crucial to address climate challenges through initiatives like knowledge sharing and coordinated action.
Boosing Resilience Through Innovative Risk Governance - OECD ReportOECD Governance
OECD publication 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
2009 T H E F U T U R E O F T H E G L O B A L F I N A N C I A L S Y S T...Madrid Network
The report explores how the global financial system may evolve over the near-term and long-term by examining recent macroeconomic shifts and presenting four potential long-term scenarios. In the near-term outlook, it finds that financial institutions are adapting to tighter credit, slower growth and increased regulation. Alternatives players have suffered but some may gain from deleveraging. Insurers' fortunes differ by region and line of business, with some able to capitalize on new opportunities. The long-term scenarios presented are financial regionalism, re-engineered Western-centrism, fragmented protectionism, and rebalanced multilateralism.
The document is a collection of essays examining the 2008-2009 global financial crisis and its impact on developing countries. It contains the following summaries:
1) The financial crisis originated from imbalances in the global economy and flaws in the international financial system. Developing countries were impacted through trade and financial linkages, but some fared better than others due to policy responses.
2) Financialization of commodity markets contributed to increased commodity price volatility, which had mixed effects on developing commodity producers and consumers.
3) Countries like China and India experienced slowed growth but implemented stimulus policies that helped mitigate impacts. China's exports declined but domestic demand increased, while India saw impacts transmitted through exports and remittances but maintained positive
The document provides an overview and summary of the Post-Disaster Needs Assessment (PDNA) conducted in Haiti following the 2010 earthquake. Some key points:
- The earthquake caused massive damage across Haiti, killing over 220,000 people, injuring 300,000, and leaving 1.5 million people homeless. Infrastructure like housing, hospitals, and schools were heavily damaged.
- The PDNA estimated total damage and losses at $7.8 billion, equivalent to Haiti's entire GDP. Private sector losses accounted for 70% of the total. Housing suffered the most with $2.3 billion in damage alone.
- Beyond reconstruction, Haiti's needs over the next 3 years were estimated
2015 Annual Global Climate and Catastrophe ReportGraeme Cross
Global Catastrophe Losses Remain Below Average in 2015 Despite Uptick in Disaster Events
Global natural disasters in 2015 combined to cause economic losses of USD123 billion, an amount 30 percent below the 15-year average of USD175 billion. However, the losses were just eight percent lower on a median basis (USD134 billion). The economic losses were attributed to 300 separate events, compared to an average of 269. The disasters caused insured losses of USD35 billion, or 31 percent below the 15-year mean of USD51 billion and 14 percent lower than the median (USD40 billion). It comprised the lowest total since 2009. This was the fourth consecutive year with declining catastrophe losses since the record-setting year in 2011. Notable events during the year included winter storms in the United States; extensive flooding in parts of India, the US, UK, and China; a major earthquake in Nepal; record-setting tropical cyclones in the Pacific Ocean; European windstorms; and massive forest fires in Indonesia. The top three perils, flooding, severe thunderstorm, and wildfire, combined for 59 percent of all economic losses in 2015. Despite 32 percent of catastrophe losses occurring inside of the United States, it still accounted for 60 percent of global insured losses. This speaks to a higher rate of insurance penetration in the country.
AUVSI 2012 - Natural Disasters: A Future View in the Use of RPASLaura Samsó, MSc
This document discusses how remotely piloted aircraft (RPAs) could assist during natural disasters through near-real-time monitoring, planning, and autonomous operations. It presents a future scenario where a high-level plan is uploaded to an RPA which then deploys a swarm of small RPAs to perform wide-ranging operations like surveillance, personnel location identification, and damage assessment using various sensors. The RPAs could help disaster management efforts across prevention, preparedness, response, and recovery phases by enhancing situational awareness and assisting emergency teams. However, challenges around autonomy, automatic target recognition, communications, and human factors integration would need to be addressed for such operations.
The document discusses Pakistan's vulnerability to natural and human-induced disasters due to its geo-physical conditions, climate extremes, and high levels of exposure and vulnerability. It notes that the 2005 earthquake and 2010/2011 floods revealed weaknesses in Pakistan's capacity to manage disasters and reduce risks. The policy aims to provide a guiding framework to address high disaster risks by promoting risk reduction measures and ensuring development strengthens resilience. It identifies key challenges as low risk knowledge, development not being risk-conscious, and insufficient disaster risk reduction capacity at all levels of society.
Paris agreement westafrica diagnosis capacity needsPatrickTanz
This document analyzes the implementation of the Paris Climate Agreement in West Africa. It examines the Nationally Determined Contributions and capacity building needs in the region. West Africa faces significant climate change impacts like rising temperatures and changing rainfall patterns. Regional organizations can help coordinate the response by supporting national policies and initiatives. The document reviews the NDCs of 17 West African countries and finds heterogeneity in their commitments and progress. It also identifies capacity building as key, and analyzes the needs expressed by these countries, such as needs related to planning, reporting, and climate finance. Regional cooperation is crucial to address climate challenges through initiatives like knowledge sharing and coordinated action.
Boosing Resilience Through Innovative Risk Governance - OECD ReportOECD Governance
OECD publication 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
2009 T H E F U T U R E O F T H E G L O B A L F I N A N C I A L S Y S T...Madrid Network
The report explores how the global financial system may evolve over the near-term and long-term by examining recent macroeconomic shifts and presenting four potential long-term scenarios. In the near-term outlook, it finds that financial institutions are adapting to tighter credit, slower growth and increased regulation. Alternatives players have suffered but some may gain from deleveraging. Insurers' fortunes differ by region and line of business, with some able to capitalize on new opportunities. The long-term scenarios presented are financial regionalism, re-engineered Western-centrism, fragmented protectionism, and rebalanced multilateralism.
The document is a collection of essays examining the 2008-2009 global financial crisis and its impact on developing countries. It contains the following summaries:
1) The financial crisis originated from imbalances in the global economy and flaws in the international financial system. Developing countries were impacted through trade and financial linkages, but some fared better than others due to policy responses.
2) Financialization of commodity markets contributed to increased commodity price volatility, which had mixed effects on developing commodity producers and consumers.
3) Countries like China and India experienced slowed growth but implemented stimulus policies that helped mitigate impacts. China's exports declined but domestic demand increased, while India saw impacts transmitted through exports and remittances but maintained positive
The document provides an overview and summary of the Post-Disaster Needs Assessment (PDNA) conducted in Haiti following the 2010 earthquake. Some key points:
- The earthquake caused massive damage across Haiti, killing over 220,000 people, injuring 300,000, and leaving 1.5 million people homeless. Infrastructure like housing, hospitals, and schools were heavily damaged.
- The PDNA estimated total damage and losses at $7.8 billion, equivalent to Haiti's entire GDP. Private sector losses accounted for 70% of the total. Housing suffered the most with $2.3 billion in damage alone.
- Beyond reconstruction, Haiti's needs over the next 3 years were estimated
OECD Publication "Building Financial Resilience
to Climate Impacts. A Framework for Governments to manage the risks of Losses and Damages.
Governments are facing significant climate-related risks from the expected increase in frequency and intensity of cyclones, floods, fires, and other climate-related extreme events. The report Building Financial Resilience to Climate Impacts: A Framework for Governments to Manage the Risks of Losses and Damages provides a strategic framework to help governments, particularly those in emerging market and developing economies, strengthen their capacity to manage the financial implications of climate-related risks. Published in December 2022.
Atlas de mortalidad y pérdidas económicas debido al clima OMMhidrometeorologiaucv
This document is an atlas published by the World Meteorological Organization (WMO) and the Centre for Research on the Epidemiology of Disasters (CRED) that analyzes weather, climate, and water-related disasters from 1970 to 2012. It finds that over this period, there were 8,835 disasters, 1.94 million deaths, and $2.4 trillion in economic losses globally from events such as floods, windstorms, droughts, and tropical cyclones. The atlas describes impacts by region and highlights WMO and CRED efforts to standardize disaster data collection and analysis to better inform disaster risk reduction.
Summary of the Third World Conference on Disaster Risk Reduction: 14-18 March...นายสุทัศน์ กองขุนทด
This document provides information about the Earth Negotiations Bulletin, which summarizes the Third World Conference on Disaster Risk Reduction that took place from 14-18 March 2015 in Sendai, Japan. Approximately 6,500 delegates attended the conference, including representatives from governments, UN entities, NGOs, and the private sector. Participants adopted the Sendai Framework for Disaster Risk Reduction 2015-2030 to replace the Hyogo Framework for Action 2005-2015. The conference included ministerial roundtables, partnership dialogues, working sessions, and negotiations that led to the adoption of the Sendai Framework. It also recognized individuals and organizations for their achievements in disaster risk reduction.
Ligando o nosso futuro com tempo, clima e águaRobson Peixoto
Conteúdo
Prefácio
Conhecimento para a Acção Climática
Segurança Alimentar e Agricultura
Recursos hídricos e os riscos de água
Clima e Saúde
Redução do Risco de Desastres
Transportes, Comércio e Turismo
Energia e Clima
Cidades Sustentáveis
Alimentação e Mobilizar o Futuro
This document discusses innovations in country risk management across six nations. It highlights recent reforms to improve coordination of risk identification, assessment, and mitigation planning across hazards. Countries are working to strengthen critical infrastructure protection, community resilience, and post-disaster financial management. New tools aid consolidated multi-hazard risk assessment and prioritization of mitigation funding. Overall countries aim to enhance efficiency and effectiveness of disaster prevention, response, and recovery.
This document outlines the Sendai Framework for Disaster Risk Reduction 2015-2030. The framework was adopted at the Third UN World Conference on Disaster Risk Reduction in Sendai, Japan in 2015. It aims to substantially reduce disaster risk and losses over the next 15 years. The framework establishes seven global targets related to reducing mortality and losses from disasters. It also sets a goal of preventing new and reducing existing disaster risks through various economic, structural, legal and other measures to reduce exposure and vulnerability to hazards.
Agenda21 United Nations - Summary PublicationAndrew Parish
The document provides a summary of national implementation of Agenda 21 based on reports submitted by 130 countries to the United Nations. It covers several sustainable development issues including agriculture, combating poverty, decision-making, education, energy, freshwater, health, information, and oceans. For each issue, it analyzes the status of national implementation in terms of decision-making structures, participation of major groups, education and awareness programs, information management, financing, technology, and international cooperation. The summary identifies trends in implementation progress across world regions to inform the 2002 World Summit on Sustainable Development in Johannesburg.
Why do risk and disaster management matterDavid Solis
The document discusses risk and disaster management. It provides background on Mexico's development of a catastrophe earthquake "insurance" supported by cat bonds and reinsurance to provide funds for emergency expenses to the Mexican Calamity Fund (FONDEN) if certain requirements are met. It states that risk and disaster management must be incorporated into development planning to help reduce impacts on development and improve situations for the poor during crises. Every disaster should also be viewed as an opportunity to "build back better".
The document discusses several key points regarding international trade after the 2008 economic crisis:
1) Many countries introduced various trade-restrictive measures in response to the crisis, such as tariff increases, tighter standards, import licensing, and "buy local" policies.
2) Areas for new trade rulemaking include liberalizing investment and services through free trade agreements as well as developing rules on government procurement and intellectual property rights.
3) The rise of bilateral and regional free trade agreements has led to a multi-layered international trading system with over 170 agreements currently in force worldwide.
The document examines post-crisis challenges to maintaining an open trading system and opportunities for developing rules and liberalizing new areas of
The document presents the results of a technical working group convened by UNDRR and ISC to develop a comprehensive list of hazards relevant to disaster risk reduction. Through extensive consultation with experts, the working group identified 302 hazards grouped into 8 clusters. Hazard definitions were developed using a common template and aim to provide a baseline of hazard knowledge to support risk-informed decision making.
This report examines climate and disaster resilience financing for Small Island Developing States (SIDS). It finds that while funding is increasingly available, SIDS face challenges in accessing and managing the multiple sources of finance due to limited human resources. The report provides an overview of recent financing trends, highlights the complexity of the global architecture from bilateral and multilateral sources, and calls for a more coordinated and tailored approach to better support SIDS in building resilience.
The insurance industry is a major component of the economy by virtue of the amount of premiums it collects, the scale of its investment and, more fundamentally, the essential social and economic role it plays by covering personal and business risks. This annual report monitors global insurance market trends to support a better understanding of the insurance industry's overall performance and health.
The OECD has collected and analysed data on insurance such as the number of insurance companies and employees, insurance premiums and investments by insurance companies dating back to the early 1980s. Over time, the framework of this exercise has expanded and now includes key balance sheet and income statement items for the direct insurance and reinsurance sectors.
This monitoring report is compiled using data from the OECD Global Insurance Statistics (GIS) database. The geographical reach of the GIS database is constantly expanding and now covers 62 countries. In addition to OECD countries, this includes: a number of non-OECD Latin American countries, achieved through cooperation with the Association of Latin American Insurance Supervisors (ASSAL); several non-OECD countries in Asia; as well as Lithuania, South Africa and Tunisia.
This monitoring report and the GIS database provide an increasingly valuable cross-country source of data and information on insurance sector developments for use by governmental and supervisory authorities, central banks, the insurance sector and broader financial industry, consumers and the research community.
This report summarizes private sector climate change interventions in Cambodia and identifies opportunities to scale them up. It finds that the main climate-relevant sectors are agriculture, forestry, fisheries, manufacturing, energy, construction, transportation, tourism, and households. Current private investments are estimated at $52-72 million annually but barriers like the lack of a sustainable development framework limit scaling up. Recommendations include establishing long-term policy signals through low-carbon strategies and green tax reforms to incentivize more private climate action.
This document is a report from the Inter-agency Task Force on Financing for Development summarizing the current state of financing for sustainable development. It finds financing gaps have increased to $4 trillion annually for developing countries. Progress on reducing poverty and hunger has stalled or reversed in some cases. Many developing economies face high debt burdens, exacerbating financing challenges. The report calls for $500 billion in additional annual investments in sustainable development and climate action through measures like development bank reforms, debt relief for vulnerable countries, and international financial system reforms to better support developing countries in achieving the SDGs. It will help inform discussions at the upcoming Fourth International Conference on Financing for Development.
Global Assessment Report on Disaster Risk Reduction (GAR 2023)Christina Parmionova
Disasters are reversing global development. Urgent action is needed to build resilience into every decision we make.
Growing inequities and pressures on the planet are reversing hard-won development gains. Humanitarian needs are also rising, as disasters and conflict create enormous human suffering. The United Nations Global Assessment Report on Disaster Risk Reduction (GAR 2023) highlights how resilience can be strengthened to withstand and respond to shocks. This includes investments in early warning systems where the benefits triple in vulnerable contexts because of their proven ability to reduce damage.
This document provides a summary of key trends in sustainable development for Small Island Developing States (SIDS) based on available statistical data. It focuses on demographic trends, climate change, disaster management, trade and finance, tourism, energy, natural resources, and social development. The summary highlights that while progress has been made in some areas, SIDS continue to face significant vulnerabilities and challenges due to their small size, remoteness, reliance on narrow economic bases, and exposure to environmental risks like climate change and natural disasters. Significant further efforts are still needed to achieve sustainable development goals in SIDS.
Effective Hydrocarbon Management: Lessons from the South
This book is the result of the first successful High-level Meetings on Oil and Gas Management held in Doha, Qatar in 2007, where participants unanimously agreed that a lack of capacity was the major challenge to the sustainable development of their emerging hydrocarbon sectors. Participants at the Meeting benefited from an open dialogue on various oil and gas issues, including good governance models, environment and climate issues as well as regulatory and policy issues. Following the 2007 Doha Meeting, this book was published in May 2009 as a compilation of the papers and presentations given at the Meeting. It serves as referencel for all persons in the oil and gas industry, particularly those of emerging oil- and gas-producing countries of the South.
This volume is a tool to enable effective management of oil and gas resources; an important component in helping achieve Millennium Development Goals, reducing poverty, promoting sustainable economic growth, encouraging democratic governance as well as mitigating the risks of civil conflict and fostering sound environmental management.
This document provides an overview of a report on insurance and risk landscape in the Southern Cape of South Africa produced by a research partnership. It discusses how climate change is increasing risks of extreme weather events and long-term changes. Insurance plays an important role in adapting to these risks by transferring financial risks. However, those most vulnerable to climate impacts often lack access to affordable insurance. The report examines case studies on risks in the region and provides recommendations on how insurers can work with governments and communities to develop solutions to build climate resilience.
The world stands to lose close to 10% of total economic value by mid-century if climate change stays on the currently-anticipated trajectory, and the Paris Agreement and 2050 net-zero emissions targets are not met.
Many emerging markets have most to gain if the world is able to rein in temperature gains. For example, action today to get back to the Paris temperature rise scenario would mean economies in southeast Asia could prevent around a quarter of the gross domestic product (GDP) loss by mid-century that they may otherwise suffer. Our analysis in this report is unique in explicitly simulating for the many uncertainties around the impacts of climate change. It shows that those economies most vulnerable to the potential physical risks of climate change stand to benefit most from keeping temperature rises in check. This includes some of the world's most dynamic emerging economies, the engines of global growth in the years to come. The message from the analysis is clear: no action on climate change is not an option.
Promise and peril: How artificial intelligence is transforming health careΔρ. Γιώργος K. Κασάπης
AI has enormous potential to improve the quality of health care, enable early diagnosis of diseases, and reduce costs. But if implemented incautiously, AI can exacerbate health disparities, endanger patient privacy, and perpetuate bias. STAT, with support from the Commonwealth Fund, explored these possibilities and pitfalls during the past year and a half, illuminating best practices while identifying concerns and regulatory gaps. This report includes many of the articles we published and summarizes our findings, as well as recommendations we heard from caregivers, health care executives, academic experts, patient advocates, and others.
More Related Content
Similar to Financial Management of Earthquake risk
OECD Publication "Building Financial Resilience
to Climate Impacts. A Framework for Governments to manage the risks of Losses and Damages.
Governments are facing significant climate-related risks from the expected increase in frequency and intensity of cyclones, floods, fires, and other climate-related extreme events. The report Building Financial Resilience to Climate Impacts: A Framework for Governments to Manage the Risks of Losses and Damages provides a strategic framework to help governments, particularly those in emerging market and developing economies, strengthen their capacity to manage the financial implications of climate-related risks. Published in December 2022.
Atlas de mortalidad y pérdidas económicas debido al clima OMMhidrometeorologiaucv
This document is an atlas published by the World Meteorological Organization (WMO) and the Centre for Research on the Epidemiology of Disasters (CRED) that analyzes weather, climate, and water-related disasters from 1970 to 2012. It finds that over this period, there were 8,835 disasters, 1.94 million deaths, and $2.4 trillion in economic losses globally from events such as floods, windstorms, droughts, and tropical cyclones. The atlas describes impacts by region and highlights WMO and CRED efforts to standardize disaster data collection and analysis to better inform disaster risk reduction.
Summary of the Third World Conference on Disaster Risk Reduction: 14-18 March...นายสุทัศน์ กองขุนทด
This document provides information about the Earth Negotiations Bulletin, which summarizes the Third World Conference on Disaster Risk Reduction that took place from 14-18 March 2015 in Sendai, Japan. Approximately 6,500 delegates attended the conference, including representatives from governments, UN entities, NGOs, and the private sector. Participants adopted the Sendai Framework for Disaster Risk Reduction 2015-2030 to replace the Hyogo Framework for Action 2005-2015. The conference included ministerial roundtables, partnership dialogues, working sessions, and negotiations that led to the adoption of the Sendai Framework. It also recognized individuals and organizations for their achievements in disaster risk reduction.
Ligando o nosso futuro com tempo, clima e águaRobson Peixoto
Conteúdo
Prefácio
Conhecimento para a Acção Climática
Segurança Alimentar e Agricultura
Recursos hídricos e os riscos de água
Clima e Saúde
Redução do Risco de Desastres
Transportes, Comércio e Turismo
Energia e Clima
Cidades Sustentáveis
Alimentação e Mobilizar o Futuro
This document discusses innovations in country risk management across six nations. It highlights recent reforms to improve coordination of risk identification, assessment, and mitigation planning across hazards. Countries are working to strengthen critical infrastructure protection, community resilience, and post-disaster financial management. New tools aid consolidated multi-hazard risk assessment and prioritization of mitigation funding. Overall countries aim to enhance efficiency and effectiveness of disaster prevention, response, and recovery.
This document outlines the Sendai Framework for Disaster Risk Reduction 2015-2030. The framework was adopted at the Third UN World Conference on Disaster Risk Reduction in Sendai, Japan in 2015. It aims to substantially reduce disaster risk and losses over the next 15 years. The framework establishes seven global targets related to reducing mortality and losses from disasters. It also sets a goal of preventing new and reducing existing disaster risks through various economic, structural, legal and other measures to reduce exposure and vulnerability to hazards.
Agenda21 United Nations - Summary PublicationAndrew Parish
The document provides a summary of national implementation of Agenda 21 based on reports submitted by 130 countries to the United Nations. It covers several sustainable development issues including agriculture, combating poverty, decision-making, education, energy, freshwater, health, information, and oceans. For each issue, it analyzes the status of national implementation in terms of decision-making structures, participation of major groups, education and awareness programs, information management, financing, technology, and international cooperation. The summary identifies trends in implementation progress across world regions to inform the 2002 World Summit on Sustainable Development in Johannesburg.
Why do risk and disaster management matterDavid Solis
The document discusses risk and disaster management. It provides background on Mexico's development of a catastrophe earthquake "insurance" supported by cat bonds and reinsurance to provide funds for emergency expenses to the Mexican Calamity Fund (FONDEN) if certain requirements are met. It states that risk and disaster management must be incorporated into development planning to help reduce impacts on development and improve situations for the poor during crises. Every disaster should also be viewed as an opportunity to "build back better".
The document discusses several key points regarding international trade after the 2008 economic crisis:
1) Many countries introduced various trade-restrictive measures in response to the crisis, such as tariff increases, tighter standards, import licensing, and "buy local" policies.
2) Areas for new trade rulemaking include liberalizing investment and services through free trade agreements as well as developing rules on government procurement and intellectual property rights.
3) The rise of bilateral and regional free trade agreements has led to a multi-layered international trading system with over 170 agreements currently in force worldwide.
The document examines post-crisis challenges to maintaining an open trading system and opportunities for developing rules and liberalizing new areas of
The document presents the results of a technical working group convened by UNDRR and ISC to develop a comprehensive list of hazards relevant to disaster risk reduction. Through extensive consultation with experts, the working group identified 302 hazards grouped into 8 clusters. Hazard definitions were developed using a common template and aim to provide a baseline of hazard knowledge to support risk-informed decision making.
This report examines climate and disaster resilience financing for Small Island Developing States (SIDS). It finds that while funding is increasingly available, SIDS face challenges in accessing and managing the multiple sources of finance due to limited human resources. The report provides an overview of recent financing trends, highlights the complexity of the global architecture from bilateral and multilateral sources, and calls for a more coordinated and tailored approach to better support SIDS in building resilience.
The insurance industry is a major component of the economy by virtue of the amount of premiums it collects, the scale of its investment and, more fundamentally, the essential social and economic role it plays by covering personal and business risks. This annual report monitors global insurance market trends to support a better understanding of the insurance industry's overall performance and health.
The OECD has collected and analysed data on insurance such as the number of insurance companies and employees, insurance premiums and investments by insurance companies dating back to the early 1980s. Over time, the framework of this exercise has expanded and now includes key balance sheet and income statement items for the direct insurance and reinsurance sectors.
This monitoring report is compiled using data from the OECD Global Insurance Statistics (GIS) database. The geographical reach of the GIS database is constantly expanding and now covers 62 countries. In addition to OECD countries, this includes: a number of non-OECD Latin American countries, achieved through cooperation with the Association of Latin American Insurance Supervisors (ASSAL); several non-OECD countries in Asia; as well as Lithuania, South Africa and Tunisia.
This monitoring report and the GIS database provide an increasingly valuable cross-country source of data and information on insurance sector developments for use by governmental and supervisory authorities, central banks, the insurance sector and broader financial industry, consumers and the research community.
This report summarizes private sector climate change interventions in Cambodia and identifies opportunities to scale them up. It finds that the main climate-relevant sectors are agriculture, forestry, fisheries, manufacturing, energy, construction, transportation, tourism, and households. Current private investments are estimated at $52-72 million annually but barriers like the lack of a sustainable development framework limit scaling up. Recommendations include establishing long-term policy signals through low-carbon strategies and green tax reforms to incentivize more private climate action.
This document is a report from the Inter-agency Task Force on Financing for Development summarizing the current state of financing for sustainable development. It finds financing gaps have increased to $4 trillion annually for developing countries. Progress on reducing poverty and hunger has stalled or reversed in some cases. Many developing economies face high debt burdens, exacerbating financing challenges. The report calls for $500 billion in additional annual investments in sustainable development and climate action through measures like development bank reforms, debt relief for vulnerable countries, and international financial system reforms to better support developing countries in achieving the SDGs. It will help inform discussions at the upcoming Fourth International Conference on Financing for Development.
Global Assessment Report on Disaster Risk Reduction (GAR 2023)Christina Parmionova
Disasters are reversing global development. Urgent action is needed to build resilience into every decision we make.
Growing inequities and pressures on the planet are reversing hard-won development gains. Humanitarian needs are also rising, as disasters and conflict create enormous human suffering. The United Nations Global Assessment Report on Disaster Risk Reduction (GAR 2023) highlights how resilience can be strengthened to withstand and respond to shocks. This includes investments in early warning systems where the benefits triple in vulnerable contexts because of their proven ability to reduce damage.
This document provides a summary of key trends in sustainable development for Small Island Developing States (SIDS) based on available statistical data. It focuses on demographic trends, climate change, disaster management, trade and finance, tourism, energy, natural resources, and social development. The summary highlights that while progress has been made in some areas, SIDS continue to face significant vulnerabilities and challenges due to their small size, remoteness, reliance on narrow economic bases, and exposure to environmental risks like climate change and natural disasters. Significant further efforts are still needed to achieve sustainable development goals in SIDS.
Effective Hydrocarbon Management: Lessons from the South
This book is the result of the first successful High-level Meetings on Oil and Gas Management held in Doha, Qatar in 2007, where participants unanimously agreed that a lack of capacity was the major challenge to the sustainable development of their emerging hydrocarbon sectors. Participants at the Meeting benefited from an open dialogue on various oil and gas issues, including good governance models, environment and climate issues as well as regulatory and policy issues. Following the 2007 Doha Meeting, this book was published in May 2009 as a compilation of the papers and presentations given at the Meeting. It serves as referencel for all persons in the oil and gas industry, particularly those of emerging oil- and gas-producing countries of the South.
This volume is a tool to enable effective management of oil and gas resources; an important component in helping achieve Millennium Development Goals, reducing poverty, promoting sustainable economic growth, encouraging democratic governance as well as mitigating the risks of civil conflict and fostering sound environmental management.
This document provides an overview of a report on insurance and risk landscape in the Southern Cape of South Africa produced by a research partnership. It discusses how climate change is increasing risks of extreme weather events and long-term changes. Insurance plays an important role in adapting to these risks by transferring financial risks. However, those most vulnerable to climate impacts often lack access to affordable insurance. The report examines case studies on risks in the region and provides recommendations on how insurers can work with governments and communities to develop solutions to build climate resilience.
Similar to Financial Management of Earthquake risk (20)
The world stands to lose close to 10% of total economic value by mid-century if climate change stays on the currently-anticipated trajectory, and the Paris Agreement and 2050 net-zero emissions targets are not met.
Many emerging markets have most to gain if the world is able to rein in temperature gains. For example, action today to get back to the Paris temperature rise scenario would mean economies in southeast Asia could prevent around a quarter of the gross domestic product (GDP) loss by mid-century that they may otherwise suffer. Our analysis in this report is unique in explicitly simulating for the many uncertainties around the impacts of climate change. It shows that those economies most vulnerable to the potential physical risks of climate change stand to benefit most from keeping temperature rises in check. This includes some of the world's most dynamic emerging economies, the engines of global growth in the years to come. The message from the analysis is clear: no action on climate change is not an option.
Promise and peril: How artificial intelligence is transforming health careΔρ. Γιώργος K. Κασάπης
AI has enormous potential to improve the quality of health care, enable early diagnosis of diseases, and reduce costs. But if implemented incautiously, AI can exacerbate health disparities, endanger patient privacy, and perpetuate bias. STAT, with support from the Commonwealth Fund, explored these possibilities and pitfalls during the past year and a half, illuminating best practices while identifying concerns and regulatory gaps. This report includes many of the articles we published and summarizes our findings, as well as recommendations we heard from caregivers, health care executives, academic experts, patient advocates, and others.
In 2020, Amnesty International recorded the lowest number of executions in over a decade at 483. This was a 26% decrease from 2019. Four countries - Iran, Egypt, Iraq and Saudi Arabia - accounted for 88% of all recorded executions. The global number of known death sentences also decreased by 36% compared to 2019, partly due to disruptions from the Covid-19 pandemic. However, some countries like Egypt more than tripled their executions and the US resumed federal executions after a 17-year hiatus, putting 10 men to death over 5 months. Overall, the report found that the trend towards global abolition of the death penalty continued in 2020, but the pandemic exacerbated the cruelty of capital punishment in some retaining
Aviva’s first How We Live report was published in September 2020 when the world was firmly in the grip of a global pandemic. In the UK the vaccination programme is well underway and the mood of the nation is hopeful. This latest How We Live report looks at the long-term effects of the Coronavirus outbreak and considers its impact on our future behaviours.
We interviewed 4,000 adults across the UK to gather their views on a wide range of lifestyle decisions including property priorities, home-working, green living, career paths, vehicle choices and holiday plans. We also asked whether people had experienced any positive outcomes from the Covid pandemic. This report considers the practical and emotional skills which have been fostered as a result. Since the beginning of 2020, the UK has seen immense change. As we look forward to a sense of “normality” it remains to be seen which aspects of life will return to their previous states, and where we can expect changes to become permanent fixtures.
The life insurance industry provides protection against the financial consequences of the premature death of a family breadwinner, disability, or outliving one’s retirement assets. But how are life insurance products actually designed and priced?
Product committees comprising agents, underwriters, actuaries, and senior management sit and discuss what new products should be offered. The agents have vast experience visiting with policyholders to determine their needs. Underwriters set the guidelines on which policyholders will be accepted and/or rated. Smart actuaries (while most would find this redundant, some would call it an oxymoron) assess the potential risks in these products and set a potential price. Senior management listens to agents, underwriters, and actuaries and helps finalize the product design, the guidelines for accepting risks, and the price. The programmers will also have to be contacted to determine the cost of administering the products. Many iterations of these discussions may take place before a product is ready for sale. The entire process could take up to a year.
Some of these products are quite complex, taking into account long-term interest rates and probabilities of death/survival, disability, and lapse. With this lengthy and rigorous process, one would imagine that few mistakes are made. However, this is not the case. What follows are a few examples of major product mistakes which cost the life insurance industry a lot of time, money, and bad publicity.
The COVID-19 pandemic and subsequent lockdowns forced many insurers to accelerate the transition to digital business models. In many countries, this transition has been remarkably successful, however, the crisis also highlighted the critical role played by national regulatory frameworks in both hindering and facilitating the shift to digitalisation in the insurance industry. COVID-19 lockdowns highlighted the critical role of national regulatory frameworks in both hindering and facilitating the shift to digitalisation in the insurance industry. Digitalisation is not a goal in itself, but provides insurers and their customers with benefits that are particularly useful in situations where in-person interactions cannot take place, played out in its fullest form during the COVID-19-induced lockdowns. Digitalisation drives an increase in speed and efficiency, irrespective of where the customer is located, and promises improved customer service and satisfaction.
The document discusses the Internet of Things (IoT) and its implications for insurance. It notes that as more "things" become connected to the internet and collect data, this creates opportunities for new types of insurance products based on device interactions and data-driven risk assessments. However, it also raises issues around data integrity, privacy, security and regulation that must be addressed. The insurance industry could gain over $1 trillion in new premiums if it properly manages risks related to data, cybersecurity, cloud computing and more.
The rapid rise of online political campaigning has made most political financing regulations obsolete, putting transparency and accountability at risk. Seven in 10 countries worldwide do not have any specific limits on online spending on election campaigns, with six out of 10 not having any restrictions on online political advertising at all.
Highlights
• On average, concerns over Innovation was ranked highest, followed by Implications of Covid-19 • Respondents indicated innovation is important, but are mostly in process
• Respondents were mostly confident in implementing their innovation plans.
• Nearly half of respondents indicated their focus was on the customer experience • Most respondents expect some negative impact from Covid-19, with decreased profit indicated most, followed by decreased sales effectiveness, which are likely related
• The most common change in response to the Covid-19 impact were workplace and staffing changes, followed by technology investments
• Of the respondents, 92% indicated cyber security was important or very important.
• Continuous effort was ranked highest, and Mitigating internal threats, Identifying external threats, and Prioritizing identifying cyber risks were ranked next.
• While 95% of respondents indicated emerging threats were important or very important, 28% Indicated they were very good at responding to them
• For resiliency and sustainability, corporate ESG and R&S for internal operations were ranked as the highest priorities
iis the institutes innovation covid-19
What North America’s top finance executives are thinking - and doingΔρ. Γιώργος K. Κασάπης
Each quarter (since 2Q10), CFO Signals has tracked the thinking and actions of CFOs representing many of North America’s largest and most influential companies. All respondents are CFOs from the US, Canada, and Mexico, and the vast majority are from companies with more than $1 billion in annual revenue. The 1Q 2021 survey was open from February 8-19, 2021. A total of 128 CFOs participated, 69% from public companies and 31% from privately held companies.
Democratic watchdog organization Freedom House has released its annual ranking of the world's most free and most suppressed nations.
The report is a key barometer for global democracy and this year's edition found that global freedom has declined for the 15th straight year. 2020 was a turbulent year with the pandemic, violent conflict and economic and physical insecurity leading to democracy's defenders sustaining heavy losses against authoritarian foes which has resulted in a shift in the internatioal baance in favor of tyranny.
A total of 195 countries and 15 territories were analyzed on their levels of access to political rights and civil liberties with the number experiencing a deterioration in their freedom scores exceeding the number that saw improvement by the widest margin since 2006. In 2020, nearly 75 percent of the world's population lived under a government that saw its democracy score decline in the past year.
Women, Business and the Law 2021 is the seventh in a series of annual studies measuring the laws and regulations that affect women’s economic opportunity in 190 economies. Amidst a global pandemic that threatens progress toward gender equality, the report identifies barriers to women’s economic participation and encourages reform of discriminatory laws. This year, the study also includes important findings on government responses to the COVID-19 crisis and pilot research related to childcare and women’s access to justice.
Strong competition undoubtedly contributes to a country’s productivity and economic growth. The primary objective of a competition policy is to enhance consumer welfare by promoting competition and controlling practices that could restrict it. More competitive markets stimulate innovation and generally lead to lower prices for consumers, increased product variety and quality, more entry and enhanced investment. Overall, greater competition is expected to deliver higher levels of welfare and economic growth.
Long-erm Care and Health Care Insurance in OECD and Other CountriesΔρ. Γιώργος K. Κασάπης
This report carries out a stocktaking of what systems have in OECD and non-OECD countries for longterm care and health care, as well as the types of insurance products that are made available in these countries. It is part of a broader project that examines the complementarity of the social security network with the private insurance market, which examines how insurance could support the public sector longterm care and health care systems, as well as considering the financing of long-term care and health care.
This tenth edition of Global Insurance Market Trends provides an overview of market trends to better understand the overall performance and health of the insurance market. This monitoring report is compiled using data from the OECD Global Insurance Statistics (GIS) exercise. The OECD has collected and analysed data on insurance in OECD countries, such as the number of insurance companies and employees, insurance premiums and investments by insurance companies, dating back to the 1980s. Over time, the framework of this exercise has expanded and now includes key items of the balance sheet and income statement of direct insurers and reinsurers.
Does AI threaten and undermine human value in the workplace more than any other technology? There have been significant advances in AI, but will their impact really be different this time?
This literature review takes stock of what is known about the impact of artificial intelligence on the labour market, including the impact on employment and wages, how AI will transform jobs and skill needs, and the impact on the work environment. The purpose is to identify gaps in the evidence base and inform future research on AI and the labour market.
The OECD has estimated that 14% of jobs are at high risk of automation.
•Despite this, employment grew in nearly all OECD countries over the period 2012-2019.
•At the country level, a higher risk of automation was associated with higher employment growth over the period. This might be because automation promotes employment growth by increasing productivity, although other factors are also at play.
•At the occupational level, however, employment growth was much lower in occupations at high risk of automation (6%) than in occupations at low risk (18%).
•Low-educated workers were more concentrated in high-risk occupations in 2012 and have become even more concentrated in these occupations since then.
•The low growth in jobs in high risk occupations has not led to a drop in the employment rate of low-educated workers. This is largely because the number of workers with a low education has fallen in line with the demand for these workers.
•Going forward, however, the risk of automation is increasingly falling on low-educated workers and the COVID-19 crisis is likely to accelerate automation, as companies reduce reliance on human labour and contact between workers, or re-shore some production.
Prescription drug prices in U.S. more than 2.5 times higher than in other cou...Δρ. Γιώργος K. Κασάπης
Prescription drugs cost an average of 2.56 times more in the United States than they do in 32 other countries, according to a new report from RAND Corporation.
That disparity is even greater for brand name drugs, with U.S. prices averaging 3.44 times those in comparison nations. The study also found that prices for unbranded generic drugs — which account for 84% of drugs sold in the United States by volume but only 12% of U.S. spending — are slightly lower in the United States than in most other countries.
‘A circular nightmare’: Short-staffed nursing homes spark Covid-19 outbreaks,...Δρ. Γιώργος K. Κασάπης
Nursing homes have suffered grievously in the coronavirus pandemic. Chronically understaffed, that’s getting worse, a new US Pirg Education Fund analysis says. The shortage of direct-care workers rose from 20% of U.S. nursing homes in May to 23% in December. Too few workers raises stress among staff, the authors argue, making them and the residents they care for more vulnerable to Covid-19 infections, reducing staff further in “a circular nightmare.”
This document analyzes the impacts of utility disconnection and eviction moratoria policies on COVID-19 infections and deaths across US counties. It finds that policies limiting evictions reduced COVID-19 infections by 3.8% and deaths by 11%, while moratoria on utility disconnections reduced infections by 4.4% and deaths by 7.4%. Had these policies been adopted nationwide, infections could have been reduced up to 14.2% and deaths up to 40.7% with eviction moratoria, and infections reduced up to 8.7% and deaths up to 14.8% with utility disconnection moratoria. The document provides background on housing precarity and heterogeneity in government COVID-
What price will pi network be listed on exchangesDOT TECH
The rate at which pi will be listed is practically unknown. But due to speculations surrounding it the predicted rate is tends to be from 30$ — 50$.
So if you are interested in selling your pi network coins at a high rate tho. Or you can't wait till the mainnet launch in 2026. You can easily trade your pi coins with a merchant.
A merchant is someone who buys pi coins from miners and resell them to Investors looking forward to hold massive quantities till mainnet launch.
I will leave the what's app number of my personal pi vendor to trade with.
+12349014282
where can I find a legit pi merchant onlineDOT TECH
Yes. This is very easy what you need is a recommendation from someone who has successfully traded pi coins before with a merchant.
Who is a pi merchant?
A pi merchant is someone who buys pi network coins and resell them to Investors looking forward to hold thousands of pi coins before the open mainnet.
I will leave the what'sapp contact of my personal pi merchant to trade with
+12349014282
5 Tips for Creating Standard Financial ReportsEasyReports
Well-crafted financial reports serve as vital tools for decision-making and transparency within an organization. By following the undermentioned tips, you can create standardized financial reports that effectively communicate your company's financial health and performance to stakeholders.
Financial Assets: Debit vs Equity Securities.pptxWrito-Finance
financial assets represent claim for future benefit or cash. Financial assets are formed by establishing contracts between participants. These financial assets are used for collection of huge amounts of money for business purposes.
Two major Types: Debt Securities and Equity Securities.
Debt Securities are Also known as fixed-income securities or instruments. The type of assets is formed by establishing contracts between investor and issuer of the asset.
• The first type of Debit securities is BONDS. Bonds are issued by corporations and government (both local and national government).
• The second important type of Debit security is NOTES. Apart from similarities associated with notes and bonds, notes have shorter term maturity.
• The 3rd important type of Debit security is TRESURY BILLS. These securities have short-term ranging from three months, six months, and one year. Issuer of such securities are governments.
• Above discussed debit securities are mostly issued by governments and corporations. CERTIFICATE OF DEPOSITS CDs are issued by Banks and Financial Institutions. Risk factor associated with CDs gets reduced when issued by reputable institutions or Banks.
Following are the risk attached with debt securities: Credit risk, interest rate risk and currency risk
There are no fixed maturity dates in such securities, and asset’s value is determined by company’s performance. There are two major types of equity securities: common stock and preferred stock.
Common Stock: These are simple equity securities and bear no complexities which the preferred stock bears. Holders of such securities or instrument have the voting rights when it comes to select the company’s board of director or the business decisions to be made.
Preferred Stock: Preferred stocks are sometime referred to as hybrid securities, because it contains elements of both debit security and equity security. Preferred stock confers ownership rights to security holder that is why it is equity instrument
<a href="https://www.writofinance.com/equity-securities-features-types-risk/" >Equity securities </a> as a whole is used for capital funding for companies. Companies have multiple expenses to cover. Potential growth of company is required in competitive market. So, these securities are used for capital generation, and then uses it for company’s growth.
Concluding remarks
Both are employed in business. Businesses are often established through debit securities, then what is the need for equity securities. Companies have to cover multiple expenses and expansion of business. They can also use equity instruments for repayment of debits. So, there are multiple uses for securities. As an investor, you need tools for analysis. Investment decisions are made by carefully analyzing the market. For better analysis of the stock market, investors often employ financial analysis of companies.
Abhay Bhutada, the Managing Director of Poonawalla Fincorp Limited, is an accomplished leader with over 15 years of experience in commercial and retail lending. A Qualified Chartered Accountant, he has been pivotal in leveraging technology to enhance financial services. Starting his career at Bank of India, he later founded TAB Capital Limited and co-founded Poonawalla Finance Private Limited, emphasizing digital lending. Under his leadership, Poonawalla Fincorp achieved a 'AAA' credit rating, integrating acquisitions and emphasizing corporate governance. Actively involved in industry forums and CSR initiatives, Abhay has been recognized with awards like "Young Entrepreneur of India 2017" and "40 under 40 Most Influential Leader for 2020-21." Personally, he values mindfulness, enjoys gardening, yoga, and sees every day as an opportunity for growth and improvement.
Solution Manual For Financial Accounting, 8th Canadian Edition 2024, by Libby...Donc Test
Solution Manual For Financial Accounting, 8th Canadian Edition 2024, by Libby, Hodge, Verified Chapters 1 - 13, Complete Newest Version Solution Manual For Financial Accounting, 8th Canadian Edition by Libby, Hodge, Verified Chapters 1 - 13, Complete Newest Version Solution Manual For Financial Accounting 8th Canadian Edition Pdf Chapters Download Stuvia Solution Manual For Financial Accounting 8th Canadian Edition Ebook Download Stuvia Solution Manual For Financial Accounting 8th Canadian Edition Pdf Solution Manual For Financial Accounting 8th Canadian Edition Pdf Download Stuvia Financial Accounting 8th Canadian Edition Pdf Chapters Download Stuvia Financial Accounting 8th Canadian Edition Ebook Download Stuvia Financial Accounting 8th Canadian Edition Pdf Financial Accounting 8th Canadian Edition Pdf Download Stuvia
Abhay Bhutada Leads Poonawalla Fincorp To Record Low NPA And Unprecedented Gr...Vighnesh Shashtri
Under the leadership of Abhay Bhutada, Poonawalla Fincorp has achieved record-low Non-Performing Assets (NPA) and witnessed unprecedented growth. Bhutada's strategic vision and effective management have significantly enhanced the company's financial health, showcasing a robust performance in the financial sector. This achievement underscores the company's resilience and ability to thrive in a competitive market, setting a new benchmark for operational excellence in the industry.
when will pi network coin be available on crypto exchange.DOT TECH
There is no set date for when Pi coins will enter the market.
However, the developers are working hard to get them released as soon as possible.
Once they are available, users will be able to exchange other cryptocurrencies for Pi coins on designated exchanges.
But for now the only way to sell your pi coins is through verified pi vendor.
Here is the what'sapp contact of my personal pi vendor
+12349014282
1. Elemental Economics - Introduction to mining.pdfNeal Brewster
After this first you should: Understand the nature of mining; have an awareness of the industry’s boundaries, corporate structure and size; appreciation the complex motivations and objectives of the industries’ various participants; know how mineral reserves are defined and estimated, and how they evolve over time.
Turin Startup Ecosystem 2024 - Ricerca sulle Startup e il Sistema dell'Innov...Quotidiano Piemontese
Turin Startup Ecosystem 2024
Una ricerca de il Club degli Investitori, in collaborazione con ToTeM Torino Tech Map e con il supporto della ESCP Business School e di Growth Capital
Independent Study - College of Wooster Research (2023-2024) FDI, Culture, Glo...AntoniaOwensDetwiler
"Does Foreign Direct Investment Negatively Affect Preservation of Culture in the Global South? Case Studies in Thailand and Cambodia."
Do elements of globalization, such as Foreign Direct Investment (FDI), negatively affect the ability of countries in the Global South to preserve their culture? This research aims to answer this question by employing a cross-sectional comparative case study analysis utilizing methods of difference. Thailand and Cambodia are compared as they are in the same region and have a similar culture. The metric of difference between Thailand and Cambodia is their ability to preserve their culture. This ability is operationalized by their respective attitudes towards FDI; Thailand imposes stringent regulations and limitations on FDI while Cambodia does not hesitate to accept most FDI and imposes fewer limitations. The evidence from this study suggests that FDI from globally influential countries with high gross domestic products (GDPs) (e.g. China, U.S.) challenges the ability of countries with lower GDPs (e.g. Cambodia) to protect their culture. Furthermore, the ability, or lack thereof, of the receiving countries to protect their culture is amplified by the existence and implementation of restrictive FDI policies imposed by their governments.
My study abroad in Bali, Indonesia, inspired this research topic as I noticed how globalization is changing the culture of its people. I learned their language and way of life which helped me understand the beauty and importance of cultural preservation. I believe we could all benefit from learning new perspectives as they could help us ideate solutions to contemporary issues and empathize with others.