Disaster risks are not simple. Impacts often cascade across systems, creating new risks.
Heatwaves, droughts, wildfires, volcanic eruptions, tsunamis, pandemics, conflict and food security crises have all shown clear signs of the rippling effects of cascading risks. In a globalized world, we clearly need systemic approaches to reduce the risks of disasters whose effects resonate across systems and sectors, countries and regions.
Systemic risks involve multiple communities, cities, regions, or countries; risks that are interconnected; effects that move from one system or network to another and are uncertain or unpredictable; and they have potentially devastating outcomes – like the collapse of entire systems and threats to society as a whole.
Addressing systemic risks requires a new approach, moving from a focus on single hazards, to considering multiple, interdependent hazards and compound hazards, across systems and sectors. This involves working across silos – like climate science, finance, health, and supply chain management – and accepting a greater degree of uncertainty in risk management, and developing multi-hazard early systems.
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