Challenges of instruments that should tackle multi-hazard and multi-risk situations: an assessment of the recent reforms of the European Solidarity Fund and the Solidarity and Emergency Aid Reserve

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http://eprints.org/relation/isVersionOf https://pure.iiasa.ac.at/id/document/102864 http://eprints.org/relation/isVolatileVersionOf https://pure.iiasa.ac.at/id/document/102864 http://eprints.org/relation/issmallThumbnailVersionOf https://pure.iiasa.ac.at/id/document/102864 archive 2 disk0/00/01/90/43 2023-09-11 08:00:20 2025-03-26 05:00:20 2023-09-11 08:00:20 article show Hochrainer-Stigler S. 7958 0000-0002-9929-8171 Zhu Q. 9360 Reiter K. 2287 Ciullo A. Challenges of instruments that should tackle multi-hazard and multi-risk situations: an assessment of the recent reforms of the European Solidarity Fund and the Solidarity and Emergency Aid Reserve pub ASA SYRR European Union Solidarity Fund; Emergency Aid Reserve; Solidarity and Emergency Aid Reserve; Multi-annual Financial Program 2021–2027; Multi-hazard and multi-risk tools The European Union has some dedicated tools and mechanisms available to respond to natural hazard events including the European Union Solidarity Fund (EUSF). It follows the objective of granting financial assistance to Member States in the event of a major disaster with serious consequences. In the latest EU long-term budget plan—the Multiannual Financial Framework 2021–2027—the EUSF was merged with the Emergency Aid Reserve (EAR) to form the new Solidarity and Emergency Aid Reserve (SEAR). One additional significant change was made in 2020 which saw an extension of the scope of the EUSF. This extension allowed the EUSF to cover losses incurred due to major public health emergencies such as the COVID-19 pandemic. It is therefore now a multi-hazard and multi-risk financing instrument designed to financially assist during the emergency phase in case of an emergency event. We assess the consequences of these changes in the light of potential advantages as well as disadvantages compared to the prior EUSF structure. The results will be used to provide some policy recommendations as to how to move forward with the identified challenges. We especially recommend separating the EUSF from the coverage of large-scale public health emergencies and the emergencies covered by the EAR. Instead, we suggest establishing a new flexibility instrument that covers emergencies such as public health related ones as well as the ones within the EAR. The analysis gives some important insights, scientific as well as policy wise, about advantages as well as limitations of financial instruments that simultaneously should tackle different types of hazards and risks. 2023 doi:10.1007/s11027-023-10075-4 126 3222 3191 public Mitigation and Adaptation Strategies for Global Change 28 8 e41 TRUE 1381-2386 Multi-hazard and sYstemic framework for enhancing Risk-Informed mAnagement and Decision-making in the E.U. (MYRIAD-EU, H2020 101003276) REmote Climate Effects and their Impact on European sustainability, Policy and Trade (RECEIPT, H2020 820712) yes info:eu-repo/grantAgreement/EC/H2020/101003276/EU//MYRIAD-EU; info:eu-repo/grantAgreement/EC/H2020/820712/EU//RECEIPT info:eu-repo/semantics/article info:eu-repo/semantics/openAccess