Wang, C;
Cremen, G;
Gentile, R;
Galasso, C;
(2023)
Design and assessment of pro-poor financial soft policies for expanding cities.
International Journal of Disaster Risk Reduction
, 85
, Article 103500. 10.1016/j.ijdrr.2022.103500.
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Abstract
Recent major earthquake disasters have highlighted the effectiveness of financial soft policies (e.g., earthquake insurance) in transferring seismic risk away from those directly impacted and complementing ‘hard’ disaster risk mitigation measures (e.g., structural retrofit). However, the benefits of existing financial soft policies are often not guaranteed. This may be attributed to: (1) their low penetration rate (e.g., in the case of earthquake insurance); (2) the fact that they typically neglect the explicit needs of low-income sectors in (developed and developing) modern societies, who are often disproportionately impacted by natural-hazard driven disasters; and/or (3) their failure to consider the time-dependent nature of urban exposure. We contribute towards addressing these shortcomings by proposing a flexible framework for designing and assessing bespoke, people-centred, household-level, compulsory financial soft policies (including conventional earthquake insurance, disaster relief fund schemes, income-based tax relief schemes, or a combination of these) across cities under rapid urban expansion. The proposed framework leverages the Tomorrow's Cities Decision Support Environment, which aims to facilitate pro-poor disaster-risk-informed urban planning and design in developing country contexts. The framework specifically enables decision makers to strategically design and then assess the pro-poorness of mandatory soft policies, using financial impact metrics that discriminate losses on the basis of income. We showcase the framework using the hypothetical expanding city, “Tomorrowville”, successfully identifying pro-poor seismic-risk-related financial soft policies for different instances in the lifetime of the urban system.
| Type: | Article |
|---|---|
| Title: | Design and assessment of pro-poor financial soft policies for expanding cities |
| Open access status: | An open access version is available from UCL Discovery |
| DOI: | 10.1016/j.ijdrr.2022.103500 |
| Publisher version: | https://doi.org/10.1016/j.ijdrr.2022.103500 |
| Language: | English |
| Additional information: | This work is licensed under a Creative Commons Attribution 4.0 International License. The images or other third-party material in this article are included in the Creative Commons license, unless indicated otherwise in the credit line; if the material is not included under the Creative Commons license, users will need to obtain permission from the license holder to reproduce the material. To view a copy of this license, visit http://creativecommons.org/licenses/by/4.0/ |
| Keywords: | Financial soft policies, Pro-poor, Decision support environment, Urban expansion, Natural-hazard risk |
| UCL classification: | UCL UCL > Provost and Vice Provost Offices > UCL BEAMS UCL > Provost and Vice Provost Offices > UCL BEAMS > Faculty of Engineering Science UCL > Provost and Vice Provost Offices > UCL BEAMS > Faculty of Maths and Physical Sciences UCL > Provost and Vice Provost Offices > UCL BEAMS > Faculty of Engineering Science > Dept of Civil, Environ and Geomatic Eng UCL > Provost and Vice Provost Offices > UCL BEAMS > Faculty of Maths and Physical Sciences > Inst for Risk and Disaster Reduction |
| URI: | https://discovery.ucl.ac.uk/id/eprint/10164072 |
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