Some thinking on risk assessment of catastrophes in the Pacific region. While not having read the report, this report does not solely deal with the risk from climate change influenced catastrophe’s. Some inititaves being taken by the government of Papua New Guinea to prepare for this including climate resilience and low carbon growth. Good points about the need to align all strategies and plans with the overriding concern of climate change.
There was a little news article in The National Newspaper from the 20th Sept., 2012, which I thought was the most important news article of the day. However, that was all it was – a small article on page 7.
The Deputy Prime Minister, Hon. Leon Dion was briefed on the findings by a report on the Risk Assessment of Catastrophes in the Pacific. The reported states that, in the next 50 years, PNG is expected to incur loss exceeding US$700 million with casualties over 5,000 from natural disasters.
In PNG, we expect disasters and losses, however, we never monetize the costs of disasters. When we do, as was done in that report, and compare with the money we have, we begin to realize how unprepared we really are to future natural disasters. The disasters, when compounded with the unpredictable impacts of climate change – the cost as well…
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