Realising the 'Triple Dividend of Resilience': A New Business Case for Disaster Risk Management (Climate Risk Management, Policy and Governance)

Why aren’t we investing more in disaster resilience, despite the rising costs of disaster events? This book argues that decision-makers in governments, businesses, households, and development agencies tend to focus on avoiding losses from disasters, and perceive the return on investment as uncertain – only realised if a somewhat unlikely disaster event actually happens. This book develops a new business case for investment based on the multiple dividends of resilience. This looks beyond only avoided losses (the first dividend) to the wider benefits gained independently of whether or not the disaster event occurs. These include unleashing entrepreneurial activities and productive investments by lowering the looming threat of losses from disasters and enabling businesses, farmers and homeowners to take positive risks (the second dividend); and co-benefits of resilience measures beyond just disaster risk (the third dividend), such as flood embankments in Bangladesh that double as roads, or wetlands in Colombo that reduce urban heat extremes. Front Matter....Pages i-xiv The Triple Dividend of Resilience—A New Narrative for Disaster Risk Management and Development....Pages 1-29 Avoided Losses and the Development Dividend of Resilience....Pages 31-54 Co-benefits of Disaster Risk Management: The Third Dividend of Resilience....Pages 55-72 Disaster Risk Management and Fiscal Policy: Entry Points for Finance Ministries....Pages 73-104 Capturing the Co-benefits of Disaster Risk Management in the Private Sector....Pages 105-127 Investing in Disaster Risk Management in an Uncertain Climate....Pages 129-149 Financial Crises and Economic Resilience: Lessons for Disaster Risk Management and Resilience Dividends....Pages 151-172 Back Matter....Pages 173-176