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Risk Management

Addressing the Perfect Storm

Francis Ghesquiere's picture

A perfect storm of disaster risk is forming at the intersection of population growth, rapid urbanization, and climate change – one that is threatening to upend efforts towards achieving our development goals.
 
The number of natural disasters has nearly doubled in the last three decades, with the cost of these events increasing substantially– from around $50 billion annually in the 1980’s to just under $200 billion a year in the last decade, with extreme weather events responsible for nearly three-fourths of these losses.
 
One reason is population growth, 95 percent of which is happening and will continue to happen in developing countries. Another is rapidly expanding cities. Growing stress on infrastructure, utilities, and housing will only exacerbate risks and undo decades of achievements in development and increase the burden on humanitarian efforts.