Financing the Resilient City: A Demand Driven Approach to Development, Disaster Risk Reduction, and Climate Adaptation
The level of resilience of our cities and towns is dependent on the quality and performance of the overall urban system, not solely on the climate change adaptation of single infrastructure elements. Adaptation to climate change is becoming increasingly relevant as the negative impacts of climate change increase. At the same time, awareness about disaster risk reduction is also a growing concern. There needs to be a shift, in both adaptation to climate change and disaster risk reduction, from a singular and specific focus on affected infrastructures and locations towards a more integrated focus on overall risks, development conditions, and local area performance. The report calls for mainstreaming climate and disaster risk reduction to become factors in conventional planning processes, project design and development decision making, developing specialized financial instruments for the risk-oriented components of these projects that cannot be addressed via mainstreaming measures, and building local institutional capacity to prepare, structure and manage large scale redevelopment.