Date of publication
8 November 2023

OECD Recommendation on Building Financial Resilience to Disaster Risks 

08/11/2023 - 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.

With these considerations in mind, the OECD has 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.

It specifically targets issues related to the financial management of disaster risks, while recognising the importance of an integrated approach to disaster risk management and the contribution of risk assessment, risk awareness and risk prevention to the financial management of disaster risks, drawing on the lessons that have been learned through the OECD’s work for the G20 and APEC Finance Ministers. In that regard, it complements the OECD Recommendation on the Governance of Critical Risks, providing and integrated set of OECD guidance on disaster risk management and financing.

This Recommendation replaces the 2017 Recommendation on Disaster Risk Financing Strategies.

More information on the OECD work on disaster risk financing is available here.

Overview of the OECD Recommendation on Building Financial Resilience to Disaster Risks 

Public consultation

The draft updated OECD Recommendation on Building Financial Resilience to Disaster Risks was available for public consultation from 21 April - 19 May 2023.

Consultation document and Response to public consultation