This paper aims to identify the costs of coastal disasters in relation to human, social, built, and natural capital as well as their associated services at the local site of the disaster and in the regions and nations that respond for relief and recovery. It examines how, compared to typical cost accounting, disaster planning and preparedness becomes more cost effective when the full cost of disasters is calculated. A full-cost accounting also sets the stage for rigorous comparisons of strategies for post-disaster development.
The difference between these two approaches is demonstrated using Hurricane Katrina (2005) as a case study. The analysis presented in this paper indicates that continued population development as well as the maintenance of current settlements in particular regions along the coasts may not be in the national interest. In this way, full-cost accounting could help reduce vulnerability to future disasters.
Related Case Studies
This report examines the potential policy uses of the different varieties of resource and environmental accounts, particularly greener national accounting aggregates such as genuine savings and 'Eco-Domestic Product'.
The management of Alaskan halibut fisheries has been enabled through a long-term collaboration between government policymakers and private fishing vessel owners in designing a scheme that rigorously meets environmental standards while enabling the industry to thrive.
This report details the United Nations Economic Commission for Europe (UNECE) Standard Statistical Classifications for the Environment, including definitions of terms, selected national practices in estimations of air and water emissions, materials balance sheets, and a bibliography of methodological papers.
The study provides stakeholders with an indication of the true magnitude of the economic and natural capital costs associated with agricultural commodity production and presents a framework that can be used to measure the net environmental benefits associated with different agricultural management practices.