Unpacking systemic, cascading, and compound risks: A case based analysis of Asia Pacific

Abstract

The Sendai Framework for Disaster Risk Reduction aims to reduce disaster risk and loss by prioritizing activities that promote a better understanding of disaster risk. It prioritizes activities such as understanding disaster risk and its dimensions, with a focus on preventing the creation of new risks, reducing existing ones, and preparing for residual risks. The concept of systemic, cascading, and compound risks is becoming increasingly important in disaster risk management. However, there is a lack of understanding about these terms and how they overlap and differ in real-world applications. The COVID-19 pandemic has highlighted the evolving and underlying risk patterns in our interconnected society, making it crucial to bridge this gap.The paper explores the existing literature on systemic, cascading, and compound risks, using a secondary literature review and content analysis. It provides a conceptual overview of the three risks and supports the review with an analysis of 40 case studies in the Asia Pacific region. The analysis focuses on the hazards, underlying vulnerabilities, impacted systems, and the complex interconnections between them. Based on the findings, the authors provide recommendations for the management of systemic, cascading, and compound risks in the future.

Keywords

• Cascading risk
• Compound risk
• Disaster risk management
• Resilience
• Systemic risk