Investing in disaster risk management (DRM) yields real benefits in the short and long term. Reducing disaster-related ‘background risk’ enables forward-looking planning, long-term capital investments, and entrepreneurship.
In addition, and regardless of whether a disaster hits or not, DRM investments generate co-benefits as a result of the ‘spill-over’ of social, economic and environmental benefits arising from DRM investments themselves. These benefits are in addition to the avoided loss and damage, when a disaster strikes.
Put simply, not investing in DRM is a missed opportunity for social, economic and environmental progress.