11 December 2014: Investing now in disaster risk reduction (DRR) and resilience will pay off in the long-run, according to an event convened on the margins of the Lima Climate Change Conference. The event, titled ‘Integrated Climate Risk Management (ICRM) for a Resilient World,’ highlighted ICRM as an efficient and effective approach to reduce the risk of future losses and damages due to climate change.

Eiji Otsuki, Japan International Cooperation Agency (JICA), shared the effect of DRR investment on the economy and sustainable development, noting that data proves “the sooner the better” as the best DRR investment policy. Explaining how climate change is affecting the insurance industry and urging immediate action, Peter Höppe, Munich Re, drew attention to a corporate climate center dedicated to producing data on climate-related risks and generating new renewable energy products.

Roberto Mendez, Swiss Agency for Development and Cooperation (SDC) Bolivia, stressed the importance of mainstreaming legally-binding resilience frameworks into national planning processes, based on the Bolivian ICRM experience. Urging capacity building and awareness raising on ICRM, Ingrid-Gabriela Hoven, German Federal Ministry for Economic Cooperation and Development (BMZ), recommended undertaking a more comprehensive climate risk assessment and recognizing more gradual changes as part of climate risk approaches.

Johan van der Werff, Ambassador of the Netherlands in Peru, introduced the Aqueduct Flood Analyzer, a tool that analyzes the risk of flooding, describing it as a powerful instrument for policy makers in planning adaptation strategies. Charles Iceland, Aqueduct Director, World Resources Institute (WRI), said the Analyzer enables users to program different flood scenarios and view a global inundation map, which provides information on the number of people affected and the economic impacts.

Panelists also highlighted DRR work in Taiwan and Tuvalu, such as rebuilding a school for indigenous peoples in a mountainous area of Taiwan, which serves as a disaster shelter as well as a “net-zero energy-green school.” In Tuvalu, the planting of mangroves on heavily eroded lands is contributing to greater resilience.

The Delta Electronics Foundation, the Governments of the Netherlands, Tuvalu, Germany, Switzerland and Japan, the Mountain and Glacier Protection Organization (MGPO), Munich Re, the World Bank, WRI and Zoï Environment jointly organized the event. [IISD RS ENBOTS Coverage] [IISD RS ENBOTS Video Coverage of Side Event] [IISD RS Coverage of Lima Climate Change Conference] [Munich Re Website] [Zoï Environment Website] [World Bank Website] [WRI Website]