The greatest share of economic losses due to natural disasters is borne by the Asia-Pacific region and the countries in this region lose on an average 1.3% of GDP to disasters each year, according to a new report published by the United Nations.
The Global Assessment Report (GAR2022) ‘Our World at Risk: Transforming Governance for a Resilient Future’ sounds a warning that human activity and behaviour is contributing to an increasing number of disasters across the world, putting millions of lives and every social and economic gain in danger.
The report released by the UN Office for Disaster Risk Reduction (UNDRR) ahead of the Global Platform for Disaster Risk Reduction in May 2022, revealed that between 350 and 500 medium- to large-scale disasters took place every year over the past two decades. The number of disaster events is projected to reach 560 a year – or 1.5 disasters a day – by 2030.
Adding to the long-term impacts of disasters is the lack of insurance to aid in recovery efforts to build back better. Since 1980, just 40% of disaster-related losses were insured while insurance coverage rates in developing countries were often below 10% and sometimes close to zero.
UNDRR head and special representative of the secretary-general for disaster risk reduction Mami Mizutori said, “Disasters can be prevented, but only if countries invest the time and resources to understand and reduce their risks.
“By deliberately ignoring risk and failing to integrate it in decision making, the world is effectively bankrolling its own destruction. Critical sectors, from government to development and financial services, must urgently rethink how they perceive and address disaster risk.”