Economic losses, poverty and disasters 1998-2017

The focus of this report is on Sendai Framework target (c) which seeks to “reduce direct disaster economic loss in relation to global gross domestic product (GDP) by 2030.” This is also the theme of this year’s International Day for Disaster Reduction, on October 13. In particular, the report highlights the ever widening “protection gap” that exists between rich and poor across the planet. It is often said that those who suffer the most from climate change are those who contribute least to it. We are acutely reminded that disasters are a combination of hazard, exposure and vulnerability. It is also clear that the economic losses suffered by low and lower-middle income countries have crippling consequences for their future development and undermine our efforts to achieve the 17 Sustainable Development Goals, in particular the eradication of poverty. There is a deeper understanding today than ever before of the underlying factors which drive up the likelihood of a future disaster event. More and more countries are moving to put in place national and local strategies for disaster risk reduction by 2020, in line with target (e) of the Sendai Framework. It is our hope that this report will encourage those efforts with further evidence that reducing disaster risk and building resilience is essential to sustainable development.