Risk-Informed Investments and Economics of DRR
- Ricardo Mena Speck
The last Global Platform of 2017 highlighted the importance of risk-informed public and private investments. Risk-informed investments for resilience of infrastructure and housing was the focus of the Leader's Forum. It was emphasized that resilient and sustainable investments can only be made possible when appropriate policy instruments and regulatory frameworks are in place.
Strong coordination and collaborative partnerships that bridge institutions and stakeholders, and inclusive approaches that leave no one behind should be key elements of such policies and frameworks. The Chair's summary of the 2017 Global Platform stated that increased investments in disaster risk reduction requires a clear articulation and communication of gains and a better understanding of risk-reward trade-offs. Economic analyses are necessary to demonstrate how investments in risk reduction can benefit both public and private projects in terms of financial performance and unveil the cost of inaction.
The Ministerial Roundtable will provide an opportunity to share good examples in progress in risk-informed investments, building on discussions and recommendations made during the last Global Platform and developments that have taken place since.