DOCUMENT TAGS Risk Financing
2. PEOPLE-CENTRED AND TRANSPARENT RISK ANALYTICS
11 November 2019
A new series of technical discussion papers by the Start Network, the Red Cross Red Crescent Climate Centre and the International Federation of Red Cross and Red Crescent Societies explores how evolving disaster risk financing (DRF) approaches could be a game changer in acting earlier, quicker and more effectively to predictable humanitarian crises.
The papers are attempting to redefine how DRF meets humanitarian objectives. Building on the practical experience of the Start Network and IFRC the papers call for a move from the traditional DRF sovereign approach to a more human-impact driven approach to risk financing, identifying the financial and operational needs from the ground up; an ‘impact before instruments approach.’
Each paper explores the need for such a renewed approach whilst identifying some of the technical challenges and posing solutions to make disaster risk financing work most effectively in the humanitarian context. The aim is to ignite dialogue and build collaboration around key technical challenges whilst highlighting some key solutions to unlock the potential of DRF for humanitarian action.
Analytics and data are considered the decision-making engine of any DRF system. Accountable and transparent data systems that reflect who is most at risk, support rigorous decision making, manage uncertainty, and work across the crisis risk spectrum from hazards to vulnerability and exposure. This paper considers questions and issues which need to be considered when designing such disaster risk financing analytics and localised decision-making tools that can respond to the complexities of humanitarian crisis.