TSKB Economic Research publishes its new report titled "Beyond Recovery: Disaster Resilience"

TSKB Economic Research published its new disaster report titled "Beyond Recovery: Disaster Resilience". The report highlights the importance of mitigating disaster risk and building resilience in the face of harsher environmental conditions, noting that climate and weather events such as heat waves, storms, hurricanes, tornadoes and heavy rainfall, which are expected to increase in the upcoming years, could pose new challenges for existing infrastructure and business models. The February 6 earthquakes are a reminder of the earthquake risk in Türkiye, the report highlights, adding that the number of extreme weather events rose remarkably to 1,500 in 2023. Noting that disaster resilience requires tackling the root causes rather than focusing on the consequences, the report reminds that, according to the studies, every 1 dollar spent on disaster risk reduction to protect the future of societies will save between 4 to 7 dollars in disaster response.

This report, the product of a 3-year commitment made by TSKB Economic Research after the February 6 earthquakes taking into account the growing need to recognize, assess and understand the risks arising from natural disasters, is the fourth disaster report published on this subject. Aiming to raise awareness by keeping disaster risks on the agenda of all relevant stakeholders, TSKB Economic Research presented its latest study on the subject with the title "Comma - Earthquake Year is Not a Single Year".

Addressing the impacts of disasters on economic and social development, the report emphasizes the importance of long-term strategies for disaster mitigation and resilience building. The February 6 earthquakes are a reminder of the earthquake risk in Türkiye, the report points out, noting that the number of extreme weather events in 2023 has increased significantly, approaching 1,500. Emphasizing that the link between disaster risk and key objectives such as poverty reduction and inclusive growth has become more visible, the report states that the need for a long-term approach to building disaster resilience is widely recognized.

Noting that disaster resilience requires tackling root causes rather than focusing on outcomes, the report reminds that new research on the subject shows that every 1 dollar spent on disaster risk reduction saves 4 to 7 dollars in disaster response.

Highlights from the report "Beyond Recovery: Disaster Resilience" are as follows:

• According to the UN Environment Program's (UNEP) latest Adaptation Gap Report, adaptation costs for developing countries range between USD 215 and 387 billion. This estimate implies that compliance costs are 10-18 times higher than international public compliance finance flows, which are about USD 21 billion. The report states that climate risks have increased with the current stagnation in adaptation projects. 
• The report stresses that an increasing number of people live in cities today, while the global share of the urban population has increased by 10 percentage points to 57% in the last two decades. 
• Coastal areas, which are increasingly home to a growing number of human activities, are more vulnerable to disasters given rising sea levels globally and ongoing urban development. 
• Despite increased efforts to limit rising temperatures on a global scale, climate scientists believe disasters such as floods, droughts and wildfires are more likely. Around 40 percent of people already live in climate vulnerable areas. 
• Countries facing high seismic activity face a more challenging task. In addition to rebuilding areas at risk of earthquakes, they also need to mitigate potential damage by moving industrial facilities to safe areas. On the other hand, learning losses and increasing income inequalities and gender inequalities are phenomena with long-term impacts on development, and the impacts may go beyond physical losses.

The full report is available at here.