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Can Resilience Thinking Inform Resilience Investments? Learning from Resilience Principles for Disaster Risk Reduction

Author

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  • Margot Hill Clarvis

    (Institute of Environmental Sciences, University of Geneva, 66 boulevard Carl Vogt, 1205 Geneva, Switzerland)

  • Erin Bohensky

    (Commonwealth Scientific and Industrial Research Organisation (CSIRO), Land and Water Flagship, Australian Tropical Science and Innovation Precinct, Private Mail Bag, Aitkenvale QLD 4814, Australia)

  • Masaru Yarime

    (Graduate School of Public Policy, University of Tokyo, Hongo 7-3-1, Bunkyo-ku, Tokyo 113-0033, Japan
    Department of Science, Technology, Engineering and Public Policy (STEaPP), University College London, Boston House, 36-38 Fitzroy Square, London W1T 6EY, UK)

Abstract

As the human and financial costs of natural disasters rise and state finances continue to deplete, increasing attention is being placed on the role of the private sector to support disaster and climate resilience. However, not only is there a recognised lack of private finance to fill this gap, but international institutional and financing bodies tend to prioritise specific reactive response over preparedness and general resilience building. This paper utilises the central tenets of resilience thinking that have emerged from scholarship on social-ecological system resilience as a lens through which to assess investing in disaster risk reduction (DRR) for resilience. It draws on an established framework of resilience principles and examples of resilience investments to explore how resilience principles can actually inform decisions around DRR and resilience investing. It proposes some key lessons for diversifying sources of finance in order to, in turn, enhance “financial resilience”. In doing so, it suggests a series of questions to align investments with resilience building, and to better balance the achievement of the resilience principles with financial requirements such as financial diversification and replicability. It argues for a critical look to be taken at how resilience principles, which focus on longer-term systems perspectives, could complement the focus in DRR on critical and immediate stresses.

Suggested Citation

  • Margot Hill Clarvis & Erin Bohensky & Masaru Yarime, 2015. "Can Resilience Thinking Inform Resilience Investments? Learning from Resilience Principles for Disaster Risk Reduction," Sustainability, MDPI, vol. 7(7), pages 1-19, July.
    • Handle: RePEc:gam:jsusta:v:7:y:2015:i:7:p:9048-9066:d:52475
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    References listed on IDEAS

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    Cited by:

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    2. Fikret Berkes & Huei-Min Tsai & Mucahid Mustafa Bayrak & Yih-Ren Lin, 2021. "Indigenous Resilience to Disasters in Taiwan and Beyond," Sustainability, MDPI, vol. 13(5), pages 1-17, February.
    3. Bas Louman & Erica Di Girolami & Seth Shames & Luis Gomes Primo & Vincent Gitz & Sara J. Scherr & Alexandre Meybeck & Michael Brady, 2022. "Access to Landscape Finance for Small-Scale Producers and Local Communities: A Literature Review," Land, MDPI, vol. 11(9), pages 1-26, August.
    4. Lisa L. Greenwood & Vicki Lin & Yewande S. Abraham & Jennifer L. Schneider, 2023. "Partnering for Climate Resilience: Exploring the Maturity of Private-Sector Efforts in the Great Lakes Region," Sustainability, MDPI, vol. 15(19), pages 1-16, September.
    5. Yekang Ko & Brendan F. D. Barrett & Andrea E. Copping & Ayyoob Sharifi & Masaru Yarime & Xin Wang, 2019. "Energy Transitions Towards Low Carbon Resilience: Evaluation of Disaster-Triggered Local and Regional Cases," Sustainability, MDPI, vol. 11(23), pages 1-23, November.
    6. Yi-Chang Chiang & Tzen-Ying Ling, 2017. "Exploring Flood Resilience Thinking in the Retail Sector under Climate Change: A Case Study of an Estuarine Region of Taipei City," Sustainability, MDPI, vol. 9(9), pages 1-21, September.
    7. Marta de la Cuesta-González & Cristina Ruza & José M. Rodríguez-Fernández, 2020. "Rethinking the Income Inequality and Financial Development Nexus. A Study of Nine OECD Countries," Sustainability, MDPI, vol. 12(13), pages 1-18, July.
    8. Maksims Feofilovs & Andrea Jonathan Pagano & Emanuele Vannucci & Marina Spiotta & Francesco Romagnoli, 2024. "Climate Change-Related Disaster Risk Mitigation through Innovative Insurance Mechanism: A System Dynamics Model Application for a Case Study in Latvia," Risks, MDPI, vol. 12(3), pages 1-23, February.

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