The Governance of Critical Risks: A Discussion of the OECD Council's Recommendation

Please join us on the morning of Tuesday, November 18th, for a discussion on the Governance of Critical Risks with Jack Radisch of the Organization for Economic Co-operation and Development (OECD) and several international colleagues from the OECD High Level Risk Forum.

This Recommendation (link) is recognition of the escalating damages that can occur due to extreme events. Total damage caused by natural and human-induced disasters in OECD and BRIC countries has been estimated at nearly USD 1.5 trillion over the last decade. New vulnerabilities and interconnections seem to amplify the economic impacts. Recent events are a stark warning for economic systems that are dependent on global supply chains.

The Recommendation proposes a fundamental shift in risk governance towards a whole of society effort. It proposes actions that governments can take at all levels of government, in collaboration with the private sector and with each other, to better assess, prevent, respond to and recover from the effects of extreme events, as well as take measures to build resilience to rebound from unanticipated events.

The Homeland Security Policy Institute is pleased to welcome Mr. Radisch for a discussion about the content of the Recommendation. There will also be two facilitated discussions to provide an international perspective on: (1) the Identification of Good Practices for implementing the OECD Recommendation, and (2) developing capacity to anticipate complex risks and their impacts, linking analysis to decision making, monitoring capabilities, and planning for liabilities.