Responding to the demand, the Australia Pacific Climate Partnership commissioned the Economics of Acting Early research to generate evidence on the value of early actions in reducing the impact of climate change and disaster events in the Pacific. It is intended to help create incentives for policymakers and other decision-makers to act before a disaster occurs.
The research identified early practices of anticipatory approaches, inclusive climate change adaptation, and disaster risk reduction actions from the Pacific region. The three case studies selected were the early actions by the Palau Red Cross Society, early warning and early action messaging through Women’s Weather Watch by ActionAid Vanuatu, and the parametric insurance for social protection by the World Food Programme (WFP) and the United Nations Capital Development Fund (UNCDF) in Fiji.
The Vanuatu case study is one of the first studies that measured the economic value of women’s participation in climate actions and disaster risk reduction in the Pacific. Despite different approaches and the degree of program maturity, the key message from these case studies is clear – there is economic value in acting early. The case studies demonstrated that early actions, such as early warning information and pre-hazard insurance payout, have greater economic benefits than post-disaster response.
Read the full research document here.