Victoria University

Sustainable financing for climate and disaster resilience in Atoll Islands: Evidence from Tuvalu and Kiribati

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Show simple item record Taupo, Tauisi 2017-09-26T00:19:52Z 2017-09-26T00:19:52Z 2017 2017
dc.description.abstract This paper examines the financing of disaster risk management. Future climate and disaster risks are predicted to impose increasing financial pressure on the governments of low-lying atoll nations. The aftermath of a disaster, such as a cyclone, requires financial means for quick response and recovery. We quantify the appropriate levels of financial support for expected disasters in Tuvalu and Kiribati by building on the Pacific Catastrophe Risk Assessment and Financing Initiative (PCRAFI) calculated likely costs for disasters. To these, we add estimates of the potential effects of distant cyclones, droughts, sea level rise, and climate change, as they are predicted to affect low-lying atoll islands. This paper focuses on the potential contribution of the sovereign wealth funds (SWFs) of Tuvalu and Kiribati in reducing reliance on foreign aid for ex-post disaster risk management. We forecast the future size of SWFs using Monte Carlo simulations and an Auto-Regressive Integrated Moving Average model. We examine the long-term sustainability of SWFs, and the feasibility of extending their mandate for disaster recovery. en_NZ
dc.language.iso en_NZ
dc.relation.ispartofseries SEF Working paper ; 15/2017 en_NZ
dc.subject Sovereign wealth fund en_NZ
dc.subject Disasters en_NZ
dc.subject Tuvalu en_NZ
dc.subject Kiribati en_NZ
dc.subject Disaster fund en_NZ
dc.subject Sustainability en_NZ
dc.title Sustainable financing for climate and disaster resilience in Atoll Islands: Evidence from Tuvalu and Kiribati en_NZ
dc.type Text en_NZ
vuwschema.contributor.unit School of Education and Finance en_NZ
vuwschema.type.vuw Working or Occasional Paper en_NZ
dc.rights.rightsholder en_NZ
vuwschema.subject.anzsrcfor 140205 Environment and Resource Economics en_NZ

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