The document discusses the importance of mitigation efforts to reduce the impacts of disasters. It notes that disasters can have long-lasting effects beyond direct damages, including new regulations, environmental impacts, and impacts on social institutions or political stability. The costs of disasters have increased dramatically over time. However, mitigation often receives a low priority due to its focus on long-term prevention rather than short-term responses. The document then outlines the steps involved in developing a risk assessment and mitigation strategies, including identifying hazards, assets, vulnerabilities, and capabilities to reduce future risks.