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What does risk management have to do with Sri Lankan families?

Ralph van Doorn's picture
While the number of Sri Lankans living under the poverty line has decreased tremendously, many still live right above it and can fall back into extreme poverty if they experience a shock such as a natural disaster. Photo Credit: Lakshman Nadaraja 

Imagine there is a small fire in your house: someone forgot to put out a cigarette stub and accidentally set your rubbish bin on fire. You will need just one bucket of water to put it out.
But up the ante, and it is no longer possible for an individual to handle it. For instance, if your entire house was on fire, you would need to call your local fire station for help.
Now, go up one more level. You live in a thickly wooded part of a district like Badulla, and a forest fire covering hundreds of acres is threatening homes and businesses—then it would take the resources of the country, and maybe even aid and support from international allies, to battle the fire and help people recover.
I am telling you this story to illustrate how there are levels of risks—and responses—to consider when discussing a subject like integrated risk management.
As part of our work on the recently released Sri Lanka Development Update (SLDU) we considered the risks and opportunities facing Sri Lanka, beginning from the smallest unit of the household and building up to the country, as represented by the public sector.
There’s been a lot of talk about the macro-economy and national level reforms and policy initiatives. However, in this blog I wanted to focus on your families. What does integrated risk management mean for households?
The poorest Sri Lankan families are vulnerable to shocks