Disasters cost Global economy

The 2017 Global Platform of United Nations conference was held in Cancun, Mexicoon Disaster risk reduction where the Deputy Secretary-General Amina Mohammed cautioned that the world would not reach its development goals without tackling climate change and disaster risk.It has been reported that Natural and man-made disasters cost the Global economy US$520 billion annually and push 26 million people into poverty.

This is the first international summit on disaster since the Sendai Framework, which was adopted in 2015 in the northern Japanese city after which it was named, and consists of seven targets and four priorities for actions that aim for the substantial reduction of disaster risk and losses in lives, livelihoods and health and in the economic, physical, social, cultural and environmental assets of persons, businesses, communities and countries.

Many countries have agreed and adopted plans to implement the Sendai Framework with a clear focus on shifting the paradigm from managing disasters to managing disaster risks and incorporating the same in the economic planning agenda of each country.


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