UN Report: Extreme Climate Change Threatens Global Economies

The United Nations Office for Disaster Risk Reduction (UNDRR) has released its Global Assessment Report on Disaster Risk Reduction (GAR), raising alarms about major upcoming threats to economies due to extreme changes in climate, with the Asia Pacific region being the most vulnerable. The report was announced during the ‘Global Platform’ event organized by UNDRR, a biennial multi-stakeholder gathering that plays a crucial part in monitoring and implementing the Sendai Framework for Disaster Risk Reduction (2015-2030).

The Launch of GAR and GP 2019

The Global Platform for Disaster Risk Reduction is a significant part of the Sendai Framework’s implementation and monitoring process. The GP 2019 took place between 13th to 17th May, 2019, in Geneva, Switzerland.

Key Findings: Spending on Disaster Risk Reduction

According to the GAR, 5.2 billion was spent on reducing disaster risk from 2005 to 2017, which stands as a mere 3.8% of the total humanitarian spending. Comparatively, development aid used to develop early warning systems, build robust schools and hospitals, and assist farmers to cultivate drought-resistant crops was significantly lower than funds allocated for disaster response.</p> <h4> Major Threats Identified</h4> <p>The GAR identified several major threats to human life and property. These included air pollution, diseases, earthquakes, drought, and climate change. One alarming fact is that there is an increased potential for one form of disaster to trigger another — for example, heavy rains leading to landslides and mudslides after wildfires or prolonged droughts.</p> <h4>The Economic Impact and Climate Change</h4> <p>Not taking immediate action to manage such intertwined risks could slow down, or even reverse, progress towards achieving UN’s sustainable development objectives, such as eradicating poverty and hunger. Countries with less capacity to prepare, finance, and respond to disasters are at a higher risk of human and asset loss. Small Island Developing States, for instance, could see relative GDP losses of up to 4% annually if they don’t invest in Disaster Risk Reduction (DRR).</p> <table> <tr> <th>Annual DRR Investment</th> <th>Potential Benefits</th> </tr> <tr> <td>6 billion360 billion</td> </tr> </table> <h4>The Call to Action</h4> <p>The GAR urges governments to activate the Sendai Framework, shifting their focus from disaster response to risk reduction. The estimated annual investment of6 billion in DRR strategies could yield benefits of up to $360 billion each year.

The Role of UNISDR

Established in 1999, the UNISDR serves as a dedicated focal point in the United Nations system for coordinating disaster reduction and ensuring synergies among various disaster reduction activities. With its strategic framework running from 2016-2021, the Geneva-based unit is led by the UN Special Representative of the Secretary General for Disaster Risk Reduction. Its mandate is to act as the custodian of the Sendai Framework, providing support to countries in its implementation, monitoring, and review of progress.