Investing in disaster prevention and mitigation measures can significantly reduce economic losses from disasters. The International Federation of the Red Cross estimated that $40 billion invested in mitigation in the 1990s would have avoided $280 billion in worldwide economic losses from disasters. The World Bank also estimated that spending just 1% of a structure's value on vulnerability reduction can decrease probable maximum loss from hurricanes by one third on average. International agreements recognize that prevention and mitigation investment before emergencies occurs can lower recovery costs.
Investing in disaster prevention and mitigation measures can significantly reduce economic losses from disasters. The International Federation of the Red Cross estimated that $40 billion invested in mitigation in the 1990s would have avoided $280 billion in worldwide economic losses from disasters. The World Bank also estimated that spending just 1% of a structure's value on vulnerability reduction can decrease probable maximum loss from hurricanes by one third on average. International agreements recognize that prevention and mitigation investment before emergencies occurs can lower recovery costs.
Investing in disaster prevention and mitigation measures can significantly reduce economic losses from disasters. The International Federation of the Red Cross estimated that $40 billion invested in mitigation in the 1990s would have avoided $280 billion in worldwide economic losses from disasters. The World Bank also estimated that spending just 1% of a structure's value on vulnerability reduction can decrease probable maximum loss from hurricanes by one third on average. International agreements recognize that prevention and mitigation investment before emergencies occurs can lower recovery costs.
Disaster Prevention and The International Federation of Disaster Preparedness
the Red Cross has estimated
Mitigation that if US $40 billion had been Disaster preparedness refers to invested in mitigation measures taken to prepare for and Mitigation means to reduce the measures in the 1990s, reduce the effects of disasters. That is, severity of the human and material worldwide economic losses of to predict and, where possible, prevent damage caused by the disaster. US $280 billion (resulting from disasters, mitigate their impact on Prevention is to ensure that human disasters) would have been vulnerable populations, and respond action or natural phenomena do not avoided. to and effectively cope with their result in disaster or emergency. The consequences. objective of prevention is to reduce the The World Bank has estimated risk of being affected by a disaster. that spending 1% of a The goal of disaster preparedness is Prevention and mitigation measures structure’s value on to lessen the impact of disasters on are the things we do to prevent an vulnerability reduction vulnerable populations, to ready an emergency from happening and, if it measures can reduce probable organization for an influx of activity, does, to reduce or eliminate the maximum loss from hurricanes and to design a coordinated plan that impact. by one third (on average). reduces the waste of resources, time, and efforts. The Importance of Prevention & Mitigation Be ready at home- Prepare, plan and practice. It is important for individuals There is international agreement that and families to increase their investment in prevention and awareness, get educated, engage in mitigation before an emergency will preparedness conversations and stay reduce the cost informed. Visit ready.gov for toolkits of recovering afterwards. and downloadable emergency plans. Australia has estimated that Inform your plan with statistics- Did every dollar spent on disaster you know that the most recurring and mitigation saves at least three expensive disaster is flooding? dollars in economic and social Reduce disaster risks and build recovery. resilience by understanding key data.