TRADE AND DEVELOPMENT
Increasing levels of damage are being reported from extreme weather events, with losses falling disproportionately on the agriculture sector. These were among the insights provided by the United Nations Office for Disaster Risk Reduction (see UNISDR report) and the United Nations Food and Agriculture Organization (see FAO report) in a session that also featured a presentation by the European Commission on the need for accurate data on hazards and risk to better inform decision-making.
The symposium highlighted that data is a crucial input for risk management, which is needed to improve preparedness for natural disasters and to assist decision-making regarding investment and insurance. Participants discussed the limits to insurability against hazards if action is not taken to address risk factors and vulnerability. They also reflected on how early warning systems and resilience to disasters could be improved through better weather forecasting. A preliminary scoping of trade issues, including in relation to activities to support resilience, was made by the WTO Secretariat. An event is being planned to present the results of the research in early April 2019.
The programme for the event is available here. A summary report will be added shortly.
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