While not all disasters can be avoided, effective planning and preparedness can help mitigate their impact.

These are among the key findings from Learning from Megadisasters, a joint report by the World Bank Group and the Government of Japan released today that focuses on the disaster and risk management lessons learned from Japan’s megadisaster: the Great East Japan Earthquake of 2011. This was the first disaster ever recorded that included an earthquake, a tsunami, a nuclear power plant accident, a power supply failure, and a large-scale disruption of supply chains – with global consequences for several industries.

Over the last 30 years, natural disasters are estimated to have caused $4 trillion in economic losses. Poor communities are often hit the hardest and take the longest to recover from disasters. The report points out that, given the prospect of more extreme weather events, the world must shift from a tradition of response to a culture of prevention and resilience.

According to Sanjay Pradhan, the World Bank Group’s Vice President of Leadership, Learning and Innovation, “Risks of all kinds, from natural disasters to the financial crisis, have the potential to cause huge devastation to communities worldwide. However, research has shown that societies that successfully adapt to these risks are able to show dramatic gains. We believe, therefore, that learning from disasters and crises is relevant to all of us.”