Summary of Financial Instruments for Managing Disaster Risks Related to Climate Change

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Rating

7 Overall

8 Importance

7 Innovation

7 Style


Recommendation

Government leaders and financial professionals concerned with managing asset risk and their liabilities are contemplating the costs of extreme disaster events induced by climate change. In this insightful article, OECD policy experts Leigh Wolfrom and Mamiko Yokoi-Arai explain how alternative market instruments and combined international efforts can help mitigate the enormous financial losses resulting from natural disasters. getAbstract highly recommends this well-researched analysis to risk managers, policy makers and others concerned about financial protection from the impacts of climate change.

In this summary, you will learn

  • What major risks arise from climate change;
  • Why insurance, capital markets and multicountry coalitions are needed to buffer the severe financial consequences of climate events; and
  • How policy makers can expand climate-disaster financial protection globally.
 

About the Authors

Leigh Wolfrom is a policy analyst at the OECD, where Mamiko Yokoi-Arai is a principal administrator.

 

Summary

World leaders are increasingly anxious about the intensity and frequency of climate change catastrophes. In 2014, the Intergovernmental Panel on Climate Change (IPCC) called these episodes “severe, pervasive and irreversible.” Both in advanced and emerging economies, populations and their assets are...

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