Capturing the Co-Benefits of Disaster Risk Management on the Private Sector Side

In most countries, the private sector owns the vast majority of the buildings and a considerable portion of the infrastructure at risk. However, most investment in disaster risk management is made by the public sector, with the private sector lagging far behind. The situation represents missed opportunities for businesses to capture not only higher levels of the direct benefits of disaster risk management, but also a broader set of co-benefits to themselves and society as a whole. These co-benefits include ways of lowering production costs, improving the health of workers, and contributing to general economic stability. Ironically, many of these co-benefits are more tangible and immediate than ordinary disaster risk management benefits, which may not appear until a disaster has struck many years after the investment has been made. This study analyzes several important facets of private sector investment in disaster risk management, primarily from an economic perspective. It is intended as a first step toward promoting greater investment in disaster risk management by identifying potential co-benefits, explaining why they are not always pursued, and suggesting ways to integrate them into private sector decision-making. The latter includes government incentives, justified on the grounds that many private sector investments have extensive co-benefits, many of which pay dividends to society as a whole.

Bibliographic Details

Main Author:	Rose, Adam
Format:	Working Paper biblioteca
Language:	English en_US
Published:	World Bank, Washington, DC 2016-04
Subjects:	EQUITY IMPLICATIONS, MONETARY POLICY, CAPITAL MARKETS, UNEMPLOYMENT RATES, SUBSTITUTION, ECONOMIC GROWTH, TECHNOLOGICAL PROGRESS, GREENHOUSE GASES, ENVIRONMENTAL PROTECTION, MULTIPLIERS, CARBON, INCOME, POWER STATIONS, PROBABILITY OF OCCURRENCE, STORMS, ECONOMIC CONSEQUENCES, INTEREST RATE, PROPERTY RIGHTS, DISCOUNT RATE, TIMBER, RESOURCE ALLOCATION, EMISSIONS, COST‐BENEFIT ANALYSIS, REVENUES, ENVIRONMENTAL DECISIONS, COST‐SAVINGS, INSURANCE POLICIES, INCENTIVES, EQUILIBRIUM, ASYMMETRIC INFORMATION, MODELS, DAMAGES, PRICE, MARKET FAILURE, COMMON GOOD, SUSTAINABLE DEVELOPMENT, TAX REDUCTION, HURRICANES, ECONOMIC ANALYSIS, ECONOMIC ACTIVITY, PRESENT VALUE, ELECTRIC UTILITIES, EXPLOITATION, UNINTENDED CONSEQUENCES, OIL, TRADEOFFS, DEVELOPMENT ECONOMICS, DECISION‐MAKING, NATURAL CAPITAL, REBATES, REPLACEMENT COSTS, OPTIONS, EXTERNALITIES, DEBT, CARBON TAXES, MARKETS, POLLUTION, BENEFIT ANALYSIS, IMPORTS, TAX REVENUES, DIVIDENDS, SUBSIDIES, FINANCE, EFFICIENCY, FISHING, TAXES, NO‐REGRETS STRATEGY, INVESTMENT DECISIONS, MARKET INTEREST RATE, CLIMATE VARIABILITY, RESOURCES, RE‐INSURANCE, ENVIRONMENTAL PERFORMANCE, UNEMPLOYMENT, EQUITY, BENEFIT‐COST ANALYSIS, MARKET PRICES, POLICIES, CLIMATE CHANGE, ENVIRONMENTAL GOODS, ENVIRONMENTAL MANAGEMENT, VALUES, VALUE, COST‐EFFECTIVENESS, POLICY MAKERS, FOREIGN DIRECT INVESTMENT, CREDIT, EXTREME EVENTS, CLIMATE, DEMAND, ABATEMENT, SUSTAINABLE GROWTH, FINANCIAL INSTRUMENTS, ENVIRONMENTS, EXPENDITURES, PROPERTY, PRIVATE GOODS, COMMON PROPERTY RESOURCES, ENERGY USE, ENVIRONMENT, MARKET, FOREIGN EXCHANGE, FINANCIAL LOSSES, POLICY, ECONOMICS, COMMON PROPERTY, ENERGY EFFICIENCY, INSURANCE, FISHERIES, TRADE, POLLUTION TAXES, LAND, TRANSFER PAYMENTS, INCENTIVE SYSTEMS, DRINKING WATER, HURRICANE, PUBLIC PARTICIPATION, ALLOCATION, SUPPLY, SPILLOVER EFFECTS, REVENUE, POLLUTION CONTROL, EMPIRICAL EVIDENCE, NO‐REGRETS” STRATEGY, INVESTMENTS, RISK MANAGEMENT, OFFSETS, ECOLOGICAL ECONOMICS, RISK AVERSION, PROFITS, ENVIRONMENTAL, PUBLIC GOOD, WETLANDS, LAND‐USE, COST ANALYSIS, HAZARDOUS WASTES, PRICES, NEGATIVE EXTERNALITIES, PUBLIC GOODS, PRODUCTION COSTS, BENEFITS, COMMERCIAL FISHING, ECONOMIES, ECONOMIC PERSPECTIVE, ADVERSE SELECTION,
Online Access:	http://documents.worldbank.org/curated/en/2016/04/26213110/capturing-co-benefits-disaster-risk-management-private-sector-side https://hdl.handle.net/10986/24208
Tags:	Add Tag No Tags, Be the first to tag this record!