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A new joint report released by the World Bank and United Nations last November 11, 2010 estimates a tripling of annual global losses from natural disasters to US$ 185 billion by the end of this century.  The report also warned that climate change could add an additional US$ 30-70 billion each year from the impact of tropical cyclones alone. It also estimated that the number of people exposed to storms and earthquakes could double to 1.5 billion by 2050.

The 250-page report, “Natural Hazards, UnNatural Disasters: The Economics of Effective Prevention,” advocates simple, common sense approaches for reducing the impact of natural hazards such as earthquakes, hurricanes, and flooding.  Some of the measures outlined in the report include: making information about hazards and risks easily accessible, the provision of land titles to encourage informal settlers to invest in safer structures, the removal of rent control to encourage landlords to prioritize building maintenance, and re-orienting public spending to prioritize day-to-day maintenance of public infrastructure.  The report stresses that such measures do not require that governments allocate additional funds, only that current spending be carried out in a more focused, risk-sensitive manner.

More information on the report is available here.

Source: UNISDR