Publication: Assessing the Financial Vulnerability to Climate-Related Natural Hazards
Date
2010
ISSN
Published
2010
Author(s)
Mechler, Reinhard
Hochrainer, Stefan
Pflug, Georg
Lotsch, Alexander
Williges, Keith
Abstract
There is increased concern about the rising costs from weather extremes. For financially vulnerable countries, there are three main implications: (i) efforts to reduce risk need to be seriously stepped up in order to reduce the serious human and financial burdens to the affected population, business and fiscal stance; (ii) there is a case for country risk aversion implying that disaster risks faced by some governments cannot be absorbed without major difficulty; (iii) without exception, all financially vulnerable countries due to their development status are very unlikely to be able to implement pre-disaster risk financing instruments themselves. In order to reduce their financial vulnerability by their own means, they require technical and financial assistance from the donor community.
Citation
“Mechler, Reinhard; Hochrainer, Stefan; Pflug, Georg; Lotsch, Alexander; Williges, Keith. 2010. Assessing the Financial Vulnerability to Climate-Related Natural Hazards. © Washington, DC: World Bank. http://openknowledge.worldbank.org/entities/publication/1acb5007-31b4-5a07-825f-688cccb9b6e3 License: CC BY 3.0 IGO.”