Future Perspectives of Financing Investment in Disaster Risk Reduction and Climate Change Adaptation

Abstract

It is widely recognized that investment is crucial to mitigating disaster damage and adapting to the effects of climate change. This point was emphasized in the Sendai Framework for Disaster Risk Reduction and successive agreements on climate change. The preceding chapters of this book identified various issues that need to be resolved and proposed policies and approaches accordingly. This chapter synthesizes the major findings and proposes innovative approaches to attain sustainable progress toward a resilient future in the Asian region. There are research gaps in many areas of investment in disaster risk reduction. There is a need to develop the estimating methods and the database of investments. The activities that constitute disaster management phases need to be well-coordinated and further developed. The trend in the increasingly adverse allocation of investment between ex-ante before disaster occurrence and response and recovery following disasters needs to be reversed. Since policy- and decision-makers must justify the allocation of budget among various priority activities, the methods to analyze the benefits of disaster risk reduction and climate change adaptation need to be improved. To overcome the paucity of finance, further research should be aimed at developing innovative approaches, such as green infrastructure, partnerships with the private sector, and burden-sharing mechanisms.