Since the adoption of the Hyogo Framework for Action in 2005 progress has been achieved in reducing disaster risk at local, national, regional and global levels by countries and other relevant stakeholders, leading to a decrease in mortality in the case of some hazards. 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 (the “Trust Fund,” “GB DRRRF,” or “DRRRF”), as well as other relevant international and regional platforms for cooperation such as the Global Bank Atlantic Reconstruction Trust Fund (GBARTF), have been instrumental in the development of policies and strategies and the advancement of knowledge and mutual learning.  Overall, the Hyogo Framework for Action has been an important instrument for raising public and institutional awareness, generating political commitment and focusing and catalyzing actions by a wide range of stakeholders at all levels.

Over the same ten-year time frame, however,  disasters have continued to exact a heavy toll and, as a result, the well-being and safety of persons, communities, and countries as a whole have been affected. Over 700 thousand people have lost their lives, over 1.4 million have been injured, and approximately 23 million have been rendered homeless as a result of disasters. Overall, more than 1.5 billion people have been affected by disasters in various ways, with women, children and people in vulnerable situations disproportionately affected. The total economic loss was more than $1.3 trillion. 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 vulnerability has decreased. These disasters generate new risks and a steady rise in disaster-related losses, with 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 to meet financial and other obligations.

In December 2015, the unanimously adopted Paris Agreement, which was negotiated by representatives of 195 countries, is a major breakthrough by the international community in resolving climate change. This is the first climate change agreement that includes commitments by all signatories, in the form of Nationally Determined Contributions¹. Countries have committed to undertake actions or achieve domestic targets with a view of holding the increase in global average temperature to below 2 degrees Celsius, and pursue efforts to limit it to 1.5 degrees Celsius. Countries also plan to increase their ability to adapt to adverse impacts of climate change and foster climate change resilience. Many developing countries stress that climate finance is vital to their ability to fully deliver on their contributions and increase their level of ambition over time. For the Global Bank Group, the Paris Agreement becomes the foundation for its contribution to efficient and effective low-carbon and climate-resilient development.

To enable a successful transition to a low-carbon climate-resilient global economy as envisaged in the Paris Agreement, massive amounts of climate finance must flow to support countries’ achievement of their Nationally Determined Contributions and other low-carbon and climate resilience activities. The Global Bank through the Global Bank Disaster Risk Reduction and Reconstruction Fund – An Umbrella Trust Fund provides mitigation and adaptation finance in the context of the Disaster Risk Reduction and Climate Change and has strengthened its commitment to work with clients, other development finance institutions, the private sector, and stakeholders to tackle climate challenge with targeted and innovative finance.

Global Bank Group does this in the context of the development needs of its clients, the Sustainable Development Goals, and the Intended Nationally Determined Contributions for climate action submitted by 180 countries to the United Nations Framework Convention on Climate Change.

Global Bank Group already provide policy, advisory, financial, and technical support to countries as they transition toward lower carbon, more climate-resilient future

Global Bank Group has adopted new ambitious multi-year targets in late 2015 to rapidly expand climate finance activities, adding to the momentum leading up to the Paris Agreement. The Global Bank Group is scaling up related activities to strengthen policy, build institutional capacity, provide access to finance, and deliver technical support to client countries and their private sectors.

The Global Bank Group has committed to addressing disaster and climate risk throughout all of its development and humanitarian work.

The Global Bank Group has committed to:

• Make disaster risk reduction a priority for the Global Bank Group organizations;

• Ensure timely, coordinated and high-quality assistance to all countries where disaster losses pose a threat to people’s health and development; and,

• Ensure disaster risk reduction for resilience is central to Global Bank Group post-2015 development agenda

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 Section of the DRRRF Website.

For information about the Global Bank, please visit http://gbdrrtf.org/about-us/who-we-are