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Financial Instruments for Managing Disaster Risks Related to Climate Change
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Financial Instruments for Managing Disaster Risks Related to Climate Change

Leigh Wolfrom and Mamiko Yokoi-Arai
OECD, 2016
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Editorial Rating

7

Qualities

  • Analytical
  • Eye Opening

Recommendation

Government leaders and financial professionals concerned with managing asset risk and their liabilities are contemplating the costs of extreme disaster events induced by climate change. In this insightful article, OECD policy experts Leigh Wolfrom and Mamiko Yokoi-Arai explain how alternative market instruments and combined international efforts can help mitigate the enormous financial losses resulting from natural disasters. getAbstract highly recommends this well-researched analysis to risk managers, policy makers and others concerned about financial protection from the impacts of climate change.

Take-Aways

  • In 2014, the Intergovernmental Panel on Climate Change called climate change–related disasters “severe, pervasive and irreversible.”
  • By 2050, as much as $106 billion worth of property on the United States’ coastlines could be underwater.
  • Economies with high levels of insurance protection are far more resilient to climate event shocks than are economies with weaker insurance coverage.

About the Authors

Leigh Wolfrom is a policy analyst at the OECD, where Mamiko Yokoi-Arai is a principal administrator.

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