Stocktaking Report and Policy Recommendations on Risk Awareness and Education on Natural Catastrophes The growing cost and frequency of natural catastrophes and their implications for economic growth and development have led to a concern over the level of public awareness and education relative to large scale catastrophes and disaster risk reduction measures. Public awareness and education of disaster risk reduction are in particular increasingly acknowledged as important components of effective risk management of natural catastrophes. The financial component of disaster risk management and mitigation strategies involving risk transfer and compensation strategies is also recognised as being important for reducing the financial impact of catastrophes on individuals businesses and governments and permitting more rapid economic and social recovery. As such systematic promotion of public awareness and education of risks and risk reduction measures including financial loss sharing and risk transfer tools is an important aspect of national and international strategies to reduce vulnerability and losses from catastrophic events.