Hands on training sessions on economics for disaster prevention and preparedness

Summer of 2021 saw floods devastating parts of Western Europe and fires ravaging Mediterranean countries causing human, environmental and economic losses that could make recovery from the COVID-19 crisis even harder. Between 1980 and 2020, disasters caused by natural hazards alone affected nearly 50 million people in the European Union. On average, these disasters have cost the EU €12 billion a year. 

The study ‘Economics for Disaster Prevention and Preparedness’ carried out under the Union Civil Protection Merchanism (UCPM) through a collaboration of the Directorate-General for European Civil Protection and Humanitarian Aid Operations (DG ECHO) and the World Bank, models the potential impact of floods (based on a climate analysis through 2050) and earthquakes on Europe’s society and economy and quantify costs and benefits of investments in disaster resilience. The study consists of three reports  published this June.

As a spin-off of the study, an online training course series of three modules is taking place 1, 8 and 15 October. The three courses aim to present the findings of the study to European practitioners and experts of disaster risk management as well as European Commission staff working on DRM. 

Trainers include specialists from World Bank covering a range of fields related to economics and disaster risk management as well as other specialists from the European Commission. The first course, on 1 October, brought together more than 160 participants and provided the fundamentals of risk assessment and an overview of natural hazard risks affecting the European Union and their economic analysis. The second course, held 8 October, offered expert insights into the result of macro-economic and fiscal modelling of flood and earthquake risks on the EU economies, the possible funding gaps Europe may face and a review of disaster risk financing instruments as an opportunity to reduce impacts of disasters on people, economies, and government budgets. The last course, on 15 October, will present different types of investments available for managing different types of risks and will provide guidance on how to carry out cost-benefit analyses for both prevention and preparedness investments.

For requests/feedback/suggestions you can contact: ECHO-CP-P&P@ec.europa.eu

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