Role of Financial Incentives in promoting Disaster Resilience of the housing sector

Investing in resilience demands massive funding, one of the critical causes for the current under-investment in resilience. The housing sector predominantly experiences destructive consequences in the face of natural hazards, initiating paramount losses in any region. Therefore, improving the disaster resilience of the housing sector has substantial importance in many aspects. Unfortunately, despite the continuous efforts to develop a resilient housing sector and a built environment where it belongs, losses are replicating with increased intensity and frequency. The resilient construction methodology's technical know-how has already been discussed broadly. However, encouraging communities to invest in disaster-resilient technologies remains challenging.

Accordingly, it is necessary to provide additional funding support via incentives and enablers to promote disaster resilience in the housing sector. Incentives are rewards for actions that exceed the minimum level of compliance and act as inducements for improved performance. Amidst the different incentives, financial incentives become significant as they reduce funding constraints for resilient investments. Accordingly, the paper presents the role of financial incentives in promoting disaster resilience in the housing sector. A desk review and semi-structured interviews were used to collect the relevant data. Finally, qualitative content analysis and thematic analysis have summarised the findings. The need and the role of financial incentives in embedding disaster resilience are established through this study by identifying the current practices, challenges, and prerequisites. The establishment of financial incentives for disaster resilience practices will be instrumental in developing a resilience pathway for the future.