The world will experience 1.5 medium to large-scale disasters every day through the end of the decade unless countries ramp up action on prevention and risk reduction, according to the UN.
Disasters are already hampering global efforts to achieve the Sustainable Development Goals (SDGs).
"We can – and we must – put our efforts firmly behind prevention and risk reduction, and build a safe, sustainable, resilient and equitable future for all," UN Deputy Secretary-General Amina Mohammed said in Bali, Indonesia Wednesday while addressing the opening of the Seventh Global Platform for Disaster Risk Reduction – the first international forum on the issue since the start of the Covid-19 pandemic.
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"We must secure better coherence and implementation of the humanitarian development nexus. That means improving risk governance. Because despite our efforts, risk creation is outpacing risk reduction," Amina added.
There are no governance frameworks in place to manage risks and mitigate their impact.
The UN's 2022 Global Assessment Report, published last month, outlines ways in which governance systems can evolve to better address systemic risks.
The report makes it clear that in a world of uncertainty, understanding and reducing risk is fundamental to achieving sustainable development.
Amina referred to "new multilateral instruments" in this area, such as the UN's Complex Risk Analytics Fund, which supports "data ecosystems" that can better anticipate, prevent, and respond to complex threats, before they turn into full-blown disasters.
"This includes jointly developing risk analysis and investing in coordination and data infrastructure that enables knowledge-sharing and joint anticipatory action. Such investments will help us navigate complex risks earlier, faster, and in a more targeted and efficient manner," she said.
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"Also, We urgently need to step up international cooperation for prevention and disaster risk reduction in the most vulnerable countries and the most vulnerable communities, including women and girls, people with disabilities, the poor, marginalised and isolated," Amina added.