Despite the large impact and cost of disasters, the level of investment in proactive prevention before disasters strike remains relatively low compared to the level of investment in reactive disaster response and recovery. This underscores the need for multi-sectoral risk-informed, resilience-building and risk reduction activities. When done effectively, these cost-effective investments reduce risks, minimise the impacts of natural hazards on hard-won development gains and sustainable development prospects. They protect lives and livelihoods, safeguard critical infrastructure and prevent and minimize disruptions to supply chains and essential services.

This plenary session will discuss the urgent case for two vital transformations to accelerate investment that increases the resilience of infrastructure, systems, economies and communities. These transformations are: to address the imbalance between financing for disaster response and recovery and financing for disaster risk reduction (DRR) and climate adaptation; and to embed multi-hazard risk analysis within public and private investment decisions.

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