Investments Remain Risk-Blind.





 Adding to the problem, most economic and investment plans remain blind to disaster risks. This is especially common in the private sector, which is responsible for about 75% of investments through the creation of economic assets. When these investment decisions, be they public or private, fail to account for climate and disaster risks, they not only put the investments at risk of loss from disasters, but could also lead to the creation of new disaster risks. We see this, for instance, through the expansion of urban development into hazard-prone areas or the construction of infrastructure that is not disaster-resilient. Closing this blind gap in the public sector requires aligning national economic plans with disaster risk reduction strategies and climate change adaptation plans so that development is risk-informed and resilient. For the private sector, the use of regulations, risk information, and the offering of financial incentives can encourage businesses to make risk-informed decisions.

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