BEGIN:VCALENDAR VERSION:2.0 PRODID:unctad.org BEGIN:VEVENT UID:6af35956609e8 DTSTART:20181014T220000Z SEQUENCE:0 TRANSP:OPAQUE DTEND:20181014T220000Z LOCATION:Geneva\, Switzerland SUMMARY:Interactive discussion: Reducing Economic Losses Caused by Disaster s CLASS:PUBLIC DESCRIPTION: As natural hazards spiral in frequency and severity around th e globe\, they are triggering a resultant rise in human and economic impac ts that bodes ill for future development and threatens the gains already m ade.In 2016 alone\, weather-related disasters are estimated to have displa ced 23.5 million people. Following 2017\, one of the warmest years on reco rd\, which saw the costliest hurricane season contributing to the highest documented economic losses ever due to weather and climate events – a st aggering $320 billion – the summer of 2018 was also marked by extreme we ather\, including record temperatures\, heatwaves\, droughts\, wildfires a nd devastating rain.Recent disasters put renewed focus on the potential im pacts that weather and climate-related extreme events may have on overall development. The World Bank estimates that\, globally\, disasters caused b y natural hazards cost an annual $520 billion in consumption loss – huma n and economic losses. That’s 60 percent larger than the asset losses th at are commonly reported.For the business world\, disasters matter for a s tring of reasons. They destroy and damage assets\, means of production and infrastructure but also weaken a company’s financial situation through unexpected spending\, loss of revenue\, or commodity price fluctuations. K ey disaster impacts include loss of production facilities\, disrupted busi ness\, broken supply chains\, transport links and other networks\, shortag e of transport fuel and energy supply\, constraints on workforce availabil ity\, material disruption due to lack of access to supplies or distributio n center facilities\, and loss of the consumer base. In the case of mega-d isasters\, disruption and damage have led to relocation and displacement a nd cascading unemployment\, post-disaster. Disasters\, whether caused by n atural or human-induced hazards\, thereby become increasingly complex\, wi th a cascade of events well beyond the epicenter raising the risks for the world’s economic systems and financial and political stability.The even t – co-organized by UNCTAD\, UNISDR and ITC - is part of the celebration s of the International Day for Disaster Reduction (IDDR)\, which is marked across the globe every year. Since 2016\, IDDR has focused on the seven t argets of the Sendai Framework for Disaster Risk Reduction\, a 15-year int ernational agreement adopted in 2015. This year\, IDDR centers on the thir d target of the Sendai Framework: ‘The substantial reduction of economic losses caused by disasters’. The event aims to raise awareness of the n eed to substantially reduce the economic losses caused by disasters. It wi ll spotlight ongoing efforts to integrate disaster and climate risks into development\, trade and financial systems.Target audience:Government repre sentatives / Geneva based Permanent Missions responsible for Trade and Dev elopment.Representatives of the private sector\, including the finance and insurance industries.UN agencies and civil society working on development \, trade\, climate and sustainable financing.The event will be followed by a reception.<\;div class="\;row\n\nView meeting on unctad.org\nhttp s://unctad.org/meeting/interactive-discussion-reducing-economic-losses-cau sed-disasters DTSTAMP:20261110T175014Z END:VEVENT END:VCALENDAR