16 June 2012: The Government of Mexico and the World Bank released a joint report on the sidelines of the Group of 20 (G20) Summit convening in Los Cabos, Mexico, titled “Improving the Assessment of Disaster Risks to Strengthen Financial Resilience.” The report outlines how the G20, the World Bank, and other international partners can cooperate with national and local authorities to address disaster and financial resilience risks.

The report highlights the essential role of information in decision-making, underscoring that countries’ understanding of the risks they face is a key element of risk management. To guiding resilient development, it underscores the importance of identifying natural hazards, and understanding the potential impact of these hazards on people and assets.

According to the World Bank, rapid urbanization and changes in climate patterns will exacerbate the dramatic increase in disaster losses around the world.

Fifteen of the G20 members, as well as invited countries (Argentina, Australia, Brazil, Chile, China, Colombia, France, Germany, Italy, Japan, Republic of Korea, Mexico, Turkey, the UK, and the US), and the Organisation for Economic Co-operation and Development (OECD) submitted contributions to the publication. [World Bank Press Release] [Publication: Improving the Assessment of Disaster Risks to Strengthen Financial Resilience]