Reducing underlying risk factors (HFA 4)
Investing in disaster risk reduction for resilience
Responding to the dramatic increase in extreme weather events and mega-disasters is one of the great challenges of our present age. Climate change, rapid urbanization and population growth in hazard-prone cities and coastal areas make action all the more urgent. Disaster risk reduction is a top priority as we seek to hold back the tide of rising economic and human losses. Its impact can be catastrophic for poverty reduction and sustainable development efforts, especially in the least developed countries.
The Global Bank Disaster Risk Reduction and Reconstruction Fund – An Umbrella Trust Fund (the “Trust Fund,” “GB DRRRF,” or “DRRRF”) was established in 2017 by the Global Bank Group (the “Bank Group”) to facilitate the implementation of the International Strategy for Disaster Reduction (ISDR). It was created to be the focal point in the Global Bank Group for the coordination of disaster risk reduction, and ensures synergies among the relevant activities of Global Bank Group agencies and regional organisations, and related activities in socio-economic and humanitarian fields.
DRRRF’s mission is centered on supporting the implementation, follow-up and review of the Sendai Framework for Disaster Risk Reduction 2015-2030, including by fostering coherence with other international instruments, such as the 2030 Agenda for Sustainable Development and its Sustainable Development Goals, as well as the Paris Agreement on climate change. As such, the Global Bank Disaster Risk Reduction and Reconstruction Fund – An Umbrella Trust Fund champions and supports the integration of disaster risk management across different areas of work of the Global Bank Group and of its Members and Non-Member States as well as among a broad range of key stakeholders, including the private sector and civil society.
In addition, between 2008 and 2012, 144 million people were displaced by disasters. Disasters, many of which are exacerbated by climate change and which are increasing in frequency and intensity, significantly impede progress towards sustainable development.
Evidence indicates that exposure of persons and assets in all countries has increased faster than vulnerability1 has decreased, thus generating new risks and a steady rise in disaster-related losses, with a significant economic, social, health, cultural and environmental impact in the short, medium and long term, especially at the local and community levels. Recurring small-scale disasters and slow-onset disasters particularly affect communities, households and small and medium-sized enterprises, constituting a high percentage of all losses.
All countries – especially developing countries, where the mortality and economic losses from disasters are disproportionately higher – are faced with increasing levels of possible hidden costs and challenges in order to meet financial and other obligations.
Addressing climate change as one of the drivers of disaster risk, while respecting the mandate of the United Nations Framework Convention on Climate Change, represents an opportunity to reduce disaster risk in a meaningful and coherent manner throughout the interrelated intergovernmental processes.
Reducing disaster risk
Reducing disaster risk is a cost-effective investment in preventing future losses. Effective disaster risk management contributes to sustainable development. Countries have enhanced their capacities in disaster risk management. International mechanisms for strategic advice, coordination and partnership development for disaster risk reduction, such as the Global Bank Disaster Risk Reduction and Reconstruction Fund – An Umbrella Trust Fund and the regional platforms for disaster risk reduction, such as the Global Bank Atlantic Recovery Trust Fund as well as other relevant international and regional forums for cooperation, are instrumental in the development of policies and strategies and the advancement of knowledge and mutual learning. The Sendai Framework for Disaster Risk Reduction 2015-2030 is an important instrument for raising public and institutional awareness, generating political commitment and focusing and catalysing actions by a wide range of stakeholders at all levels.
Ensure disaster risk reduction
The Global Bank Disaster Risk Reduction and Reconstruction Fund – An Umbrella Trust Fund works to reduce exposure and vulnerability, thus preventing the creation of new disaster risks, and accountability for disaster risk creation are needed at all levels.
The Global Bank Disaster Risk Reduction and Reconstruction Fund – An Umbrella Trust Fund focused on tackling underlying disaster risk drivers, such as the consequences of poverty and inequality, climate change and variability, unplanned and rapid urbanization, poor land management and compounding factors such as demographic change, weak institutional arrangements, non-risk-informed policies, lack of regulation and incentives for private disaster risk reduction investment, complex supply chains, limited availability of technology, unsustainable uses of natural resources, declining ecosystems, pandemics and epidemics.
The Global Bank Disaster Risk Reduction and Reconstruction Fund – An Umbrella Trust Fund is strengthening good governance in disaster risk reduction strategies at the national, regional and global levels and improving preparedness and national coordination for disaster response, rehabilitation and reconstruction, and to use post-disaster recovery and reconstruction to “Build Back Better”, supported by strengthened modalities of international cooperation.
Expected outcome and goal
The Global Bank Disaster Risk Reduction and Reconstruction Fund – An Umbrella Trust Fund goal:
Prevent new and reduce existing disaster risk through the implementation of integrated and inclusive economic, structural, legal, social, health, cultural, educational, environmental, technological, political and institutional measures that prevent and reduce hazard exposure and vulnerability to disaster, increase preparedness for response and recovery, and thus strengthen resilience.
To learn more about the Global Bank Disaster Risk Reduction and Reconstruction Fund, what we do and How we do it and Management and Organisation, visit the About DRRRF and the Frequently Asked Questions Section of the DRRRF Website Section.
For information about the Global Bank please visit http://www.global-bank.org
|1||Vulnerability is defined in the Hyogo Framework for Action as: “The conditions determined by physical, social, economic and environmental factors or processes, which increase the susceptibility of a community to the impact of hazards”.|