OECD recommendation on building financial resilience to disaster risks

On 8 November 2023, the OECD Council adopted a Recommendation on Building Financial Resilience to Disaster Risks that provides guidance for governments on managing the financial impacts of disasters. The Recommendation provides a set of high-level recommendations for addressing the financial impacts of disasters on individuals, businesses and sub-national levels of governments, as well as implications for public finances.

The effective financial management of disaster risks is a key public policy challenge for governments around the world, particularly those faced with significant exposures to such risks and/or limited capacity to manage the financial impacts of disasters, such as floods, earthquakes, cyclones, cyber or terrorist attacks, and pandemics.