MULTIDIMENSIONAL VULNERABILITY INDEX (MVI)
- The Multidimensional Vulnerability Index (MVI) is an analytical tool designed to assess the vulnerability of countries, particularly small island developing states (SIDS) and other developing countries, to a wide range of risks and challenges that can impede their development.
- Unlike traditional vulnerability indices that focus primarily on economic factors, the MVI incorporates multiple dimensions of vulnerability, including environmental, social, economic, and political factors, to provide a more comprehensive assessment
- The MVI aims to provide a more nuanced and equitable basis for international support, recognizing that traditional economic indicators like GDP do not fully capture the challenges faced by vulnerable countries.
- By incorporating multiple dimensions of vulnerability, the MVI helps ensure that development assistance and policy interventions are better tailored to the specific risks and needs of these nations
The Multidimensional Vulnerability Index (MVI) includes indicators that reflect a country's inherent vulnerabilities and its limited economic, environmental, and social resilience. These indicators cover aspects such as:
- Dependency on imports
- Susceptibility to extreme weather events and pandemics
- Effects of regional conflicts
- Influx of refugees
- Demographic pressures
- Availability of water and arable land
- Child mortality rates (under five)
Target Audience and Applicability:
Originally proposed by Small Island Developing States (SIDS), the MVI is designed to assess external vulnerabilities and lack of resilience to external shocks for all developing countries, ensuring it remains credible and comparable across various contexts.
Voluntary Use and Adoption:
The adoption of the MVI is voluntary, though the resolution encourages United Nations bodies and multilateral development banks to consider incorporating the MVI alongside their existing policies.
Response from the Alliance of Small Island States (AOSIS):
The AOSIS has expressed support for the resolution, hoping that the MVI will be applied in practical scenarios. The ambassador acknowledged that while the MVI might not completely overhaul the current system, it could inspire new approaches and actions in development
4. Structure of MVI
The Multidimensional Vulnerability Index (MVI) is structured into two key components:
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Universal Quantitative Assessment: This component provides a standardized quantitative evaluation of structural vulnerability and resilience (or the lack thereof) using a consistent methodology that applies to all developing countries. The assessment results in a summary index that ranks countries according to their vulnerability levels.
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Vulnerability and Resilience Country Profiles (VRCPs): These profiles offer a comprehensive and customized analysis of a country’s specific vulnerability and resilience factors, including those that may not be fully captured by structural indicators. VRCPs are developed by individual countries and can guide efforts to address particular vulnerabilities and enhance resilience through targeted support and cooperation
