Risk and resilience

Risk and Resilience Course Overview The issues of poor resilience management are never far from the headlines - Industry needs to be ready and able to deal with potential emergencies and disruptive events; these can range from natural disasters like flooding or heavy snow to deliberate acts or attacks.

Risk and resilience

Risk and resilience

Photo courtesy of US Geological Survey. Photo by Wendy K. Stovall, US Geological Survey. Risk — the likelihood that we or our property will be harmed, and the consequences of that harm — is a part of our everyday lives. How much risk we expect to face helps inform many of our daily decisions, such as whether to drive in the snow and where to buy food.

Our instinctive and learned behaviors typically serve us well for managing these day-to-day risks. Successfully dealing with more complex and long-term risks, however, requires more sophisticated assessment and decision processes for both individuals and groups.

This includes such choices as where and how we build homes, plant crops, and generate energy. Risk can inform how much income we save for the future and whether we invest in insurance.

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In recent years, hazards such as hurricanes, earthquakes, and flooding have become increasingly destructive in terms of financial costs, as well as loss of ecological and human well-being. Unavoidable natural events are amplified by long-term changes such as sea level rise and shifting climate patterns, and exacerbated by decisions—for example urban planning and building codes—made years or decades ago.

How we plan for these uncertain risks will determine how great the impacts could be for us and future generations. Resilience is essential to living in a world filled with risk.

Resilience has historically been defined as the ability to return to the status quo after a disturbing event. If our goal is a sustainable future, we must understand the risks we will face and prepare for those risks through adaptation and mitigation measures.

Resilience is crucial in this endeavor, as it is our capacity to cope with both expected events and surprises. To this end, it is critical that we identify, assess, communicate about, and plan for risks that the future will bring.

Risk and Resilience Across the Disciplines Understanding risk and resilience is inherently interdisciplinary and multidisciplinary, and requires diverse perspectives. Stakeholders include policy makers, businesses, communities, and citizens, and effective communication among scientists, decision makers, and other affected parties—including those who can speak for future generations—is essential to establishing societal resilience in the face of diverse and changing natural hazards.

All of this work is underpinned by the hazard itself and geoscience is one of the several scientific disciplines required to understand the risks in the natural world. Having expertise in geoscience is important to developing successful adaptation and mitigation strategies.

Geoscientists use data and observations to understand the past, and develop computer models to predict the future. They can provide critical information about when and why hazardous events will occur, and what their impacts are likely to be. Geoscience is most useful for developing resilience capacity when it informs the needs of vulnerable communities, businesses, governments, planners, and others.

These needs in turn inform what questions society most needs geoscientists to study. Recommended Readings Adger, W. Global Environmental Change, 16 3 Have disaster losses increased due to anthropogenic climate change?

Bulletin of the American Meteorological Society, 92 1 Toward a comprehensive loss inventory of weather and climate hazardsin H. Cambridge University Press, pp.The world faces unpredictable challenges at increasing intensities—natural disasters, ecological uncertainty, public health crises, extreme social inequity, rising violence—and yet counters and absorbs risk through acts of resilience.

Risk and Resilience Pioneering policy-driven research on the nexus between new and emerging risks to reduce vulnerability and realise a sustainable future for all. Publications. Effective, sustainable supply chain networks are an integral part of any organization's success.

However, in a global, rapidly evolving environment full of turbulence and uncertainty, supply chains are more vulnerable than ever. Re/insurance plays an important role in managing climate and natural disaster risk, and that's why it's part of Swiss Re's core business.

What do we Mean by Risk and Resilience

According to the sigma study "Natural catastrophes and man-made disasters" there were catastrophe events across the world in , up from in Of. Psychological resilience is the ability to successfully cope with a crisis and to return to pre-crisis status quickly.

Resilience exists when the person uses "mental processes and behaviors in promoting personal assets and protecting self from the potential negative effects of stressors". In simpler terms, psychological resilience exists in people who develop psychological and behavioral.

The World Bank’s Tokyo Disaster Risk Management (DRM) Hub and the Tokyo Development Learning Center (TDLC) are jointly delivering a Technical Deep Dive (TDD) on Seismic Risk and Resilience .

Risk and Resilience - Risk and Resilience - IIASA