- Councils & Projects
|Multihazard Mitigation Council Projects|
Multi-Hazard Mitigation Council (MMC)
Natural Hazard Mitigation Saves
U.S. disaster losses from wind, floods, earthquakes, and fires now average $100 billion per year, and in 2017 exceeded $300 billion—25% of the $1.3 trillion building value put in place that year. Fortunately, there are affordable and highly cost-effective strategies that policymakers, building owners, and the building industry can deploy to reduce these impacts. These strategies include adopting and strengthening building codes, upgrading existing buildings, and improving utilities and transportation systems. The benefits and costs associated with these mitigation measures have been identified through the most exhaustive benefit-cost analysis of natural hazard mitigation to date and documented in Natural Hazard Mitigation Saves.
Natural Hazard Mitigation Saves: 2019 Report
Natural Hazard Mitigation Saves: An Independent Study to Assess the Future Savings from Mitigation Activities (2005)
From 2000 to 2005, the MMC, commissioned by the Federal Emergency Management Agency (FEMA), conducted a Congressionally mandated independent study that demonstrated that for every public dollar spent on mitigation, society saves $4. The completed study was delivered to Congress.
Resilience has come to occupy a place in public policy and programs across the United States. Yet, even in the face of growing losses and the deleterious effects of natural disasters, the nation’s capacity and appetite is waning for continued funding of federal and state pre- and post-disaster mitigation efforts to create resilience. A new approach is necessary—one focused on capturing all of the potential incentives provided by both the public and private sectors for pre- and post-hazard investment. The most cost-effective manner to achieve resilience is through a holistic and integrated set of public, private, and hybrid programs based on capturing opportunities available through mortgages and loans; insurance; finance; tax incentives and credits; grants; regulations; and enhanced building codes and their application. This focus on private/public-sector opportunities to induce corrective action is called "incentivization." The MMC reviews and recommends approaches to incentivization by combining resilience with finance in a way to develop the means to pay for resilience in communities across the U.S. The MMC and its Committee on Finance, Insurance, and Real Estate (CFIRE) has issued a series of reports: