Unlocking the “triple dividend” of resilience – Why investing in disaster risk management pays off

The risk of a disaster can cause economic losses even before a disaster strikes. Investing in disaster resilience, therefore, can yield a ‘triple dividend’ by (1) avoiding losses when disasters strike; (2) unlocking development potential by stimulating innovation and bolstering economic activity in a context of reduced disaster-related background risk for investment; and (3) through the synergies of the social, environment and economic co-benefits of disaster risk management investments even if a disaster does not happen for many years. 

The devastating effects of disasters are experienced regularly and are widely documented: Lives are lost, economies suffer, essential infrastructure is destroyed, firms lose assets and markets, households become trapped in poverty, and their welfare is severely reduced with effects on education, health and income.

Even if a disaster does not occur for a long time, investing in DRM yields real benefits in both the short and long term. Reducing disaster-related ‘background risk’ enables forward-looking planning, long-term capital investments, and entrepreneurship. In addition, and regardless of whether a disaster hits or not, DRM investments generate co-benefits as a result of the ‘spill-over’ of social, economic and environmental benefits arising from DRM investments themselves. These benefits are in addition to the avoided loss and damage, when a disaster strikes. Put simply, not investing in DRM is a missed opportunity for social, economic and environmental progress. 

The Global Facility for Disaster Reduction and Recovery (GFDRR) at the World Bank and led by the Overseas Development Institute (ODI), 2015

UNLOCKING THE ‘TRIPLE DIVIDEND’ OF RESILIENCE. Why investing in disaster risk management pays off
http://www.odi.org/sites/odi.org.uk/files/odi-assets/publications-opinion-files/9501.pdf

Are you sure you want to delete this "resource"?
This item will be deleted immediately. You cannot undo this action.

Related Resources

Awareness material
07 Nov 2013
Household Preparedness for Seniors is an information and guided activity booklet for frail older people. The all hazards hard copy 34 page publication helps people prepare for recover. It is also available in an audio file.
Tags: Awareness material, PAPE
Guidance material
04 Dec 2015
أن التدريب على الدعم النفسي-الإجتماعي قد يجري تقديمه على شكل حزمة منفصلة أو مدرجة كجزء من برامج قائمة مثل، برامج التأهب للكوارث، الإسعاف ...
Tags: Guidance material, Resilience
Awareness material, Guidance material
07 May 2020
“Protection, gender and inclusion” (PGI) refers to all Red Cross Red Crescent actions which address violence, discrimination or exclusion, in all contexts where National Societies work. This guidance note outlines issues that may threaten people...
Tags: Awareness material, Guidance material, COVID-19 (Coronavirus), Disability Inclusive Disaster Preparedness, Mental Health and Psychosocial Support, Women and Gender