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Year: 2016 Publisher: Washington, D.C. : The World Bank,
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This paper addresses the question whether and how co-benefits, through disaster resilience building, can be further promoted. Co-benefits are defined as positive externalities that arise deliberately as a result of a joint strategy that pursues several objectives synergistically at the same time, such as disaster risk management and development goals, or disaster risk management and climate change adaptation. Of particular interest is the question of how the economic and broader benefits of disaster risk management can be recognized and realized by those in charge of fiscal policy decisions. The paper considers the interplay between public disaster risk management investment and fiscal policy, and provides an overview of the current debate as well as assessment methods, tools, and policy options. In fiscal budgeting, it has been standard practice to focus on direct liabilities and recurrent spending. Costs of disasters are often dealt with after the fact only, rather than being considered as contingent liabilities. As a consequence, the full costs of disasters have often not been budgeted for, and, with a price signal missing, there is lack of clear incentives for investing in disaster risk management. Overall, the paper identifies four steps and three dividends to be harnessed: (i) understanding fiscal risk; (ii) protecting public finance through risk financing instruments, the first dividend; (iii) managing disaster risk comprehensively, the second dividend; and (iv) pursuing a synergistic, co-benefits strategy of concurrently managing disaster risks and promoting development, the third dividend.
Co-Benefits --- Disaster Risk Management --- Fiscal Policy --- Risk Financing
Book
ISBN: 9798400278310 Year: 2024 Publisher: Washington, D.C. : International Monetary Fund,
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This technical assistance conducts a climate policy diagnostic for Jordan, covering climate adaptation and mitigation policy, as well as enabling institutions. Jordan faces acute challenges of climate-food-water nexus—innovative climate policy approaches are key, given limited fiscal space. While Jordan needs to strengthen the investment climate for climate investment through streamlining existing policies and alleviating critical barriers, making social policy more shock-responsive and strengthening risk management can go a long way in building resilience. As climate-related risks globally intensify, the government is encouraged to move toward a risk-informed policy and financing strategy.
Climate change --- Climate finance --- Climate policy --- Climate --- Climatic changes --- Environment --- Environmental Economics --- Environmental Economics: General --- Environmental Economics: Government Policy --- Environmental policy & protocols --- Environmental Policy --- Environmental policy --- Environmental Taxes and Subsidies --- Fiscal Policies and Behavior of Economic Agents: General --- Fiscal policy --- Global Warming --- Green finance / sustainable finance --- History of Thought: Macroeconomics --- International agencies --- International Agreements and Observance --- International Economics --- International institutions --- International Organizations --- Market Structure, Firm Strategy, and Market Performance: General --- Monetary economics --- Monetary Policy --- Monetary policy --- Money and Monetary Policy --- National Government Expenditures and Related Policies --- Natural Disasters and Their Management --- Redistributive Effects --- Regulation and Industrial Policy: General --- Taxation and Subsidies: Externalities --- Jordan
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