This document discusses these challenges and proposes a theoretical framework to assess drought risk at global scale in order to provide policy relevant information. Based on the described conceptual approach, the JRC developed the Global Drought Observatory (GDO) as a first operational dynamic drought risk monitor for the entire globe. In the context of global warming, droughts are increasingly threatening societies. They last for months or even years, affecting wide areas and large numbers of people, with single drought events sometimes causing economic damages for several billion Euros. Besides the economic damages, droughts can compromise ecosystems and threaten food security in the most vulnerable countries.
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