Systemic Risk from a Disaster Management Perspective: A Review of Current Research

Disasters are becoming increasingly common, unexpected, and difficult as a result of the rapid environmental and socioeconomic changes occurring at several levels. They are often the result of systemic risks marked by complexity, uncertainty, ambiguity, and cross-border consequences, very much like the continuing worldwide Covid 19 epidemic. These systemic risks outperform traditional risk management practices, posing new, unsolved policy and governance issues. This study aims to assess the origins of systemic risk thinking - particularly in relation to disaster risks, identify key inflection points in its evolution, and identify areas of opportunity in the governance of such risks by building on existing research and conducting a qualitative review of state-of-the-art literature published by academia, industry, and government. The study's findings indicate a positive shift in the recognition of systemic disaster risks, but they also underscore the need for further maturity in its management and governance. To increase holistic management of disaster-related systemic risks and coordinate an effective policy response, this research proposes the essential design principles and conceptual framework for Integrated disaster resilience (IDR) based on a ‘Whole Systems Approach'.