Over the past 12 years, disasters have continued to exact a heavy toll on countries and investors. The total economic loss during this period more is $1.3 trillion. Over 1.1 million people have lost their lives and 2.2 billion people have been affected. In addition, between 2008 and 2012, 144 million people were displaced by disasters. Natural hazards are increasing in frequency and intensity and those exacerbated by climate change are significantly impeding progress toward sustainable development.
Evidence indicates that the exposure of people and assets in all countries has increased faster than vulnerability has decreased. Thus generating new risk and a steady rise in disaster losses with significant socio-economic impact in the short, medium and long term, especially at the local and community level. More dedicated action needs to be focused on tackling underlying risk drivers and compounding factors, such as demographic change, poverty and inequality, weak governance, inadequate and non-risk informed policies, limited capacity especially at the local level, poorly managed urban and rural development in light of rapid urbanization, declining ecosystems, climate change and variability, and conflict situations.
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