De-Risking Investments for People, Planet, and Prosperity

Time

08:00 - 09:30 AM (New York)

Objective

As countries and stakeholders take stock of the Sendai Framework for Disaster Risk Reduction ahead of the General Assembly’s High-Level Meeting on the Midterm Review of the Framework in May 2023, development financing that reduces rather than creates risk, and climate finance that avoids maladaptation are emerging as key priorities. This side event aims to highlight gaps, challenges, and progress related to financing for disaster risk reduction that can be further explored through the midterm review process.

This side event brings experts from disaster risk reduction together with experts from the financial sector and government to explore new and innovative approaches to support the public and private sector actors to de-risk investments from a multi-hazard perspective. The panelists will discuss the importance of risk-informed policies and instruments to achieve the goals of the Sendai Framework, the Paris Agreement, and the 2030 Agenda. Panelists will share solutions to integrate robust risk assessment into public and private infrastructure spending, including pipelines of investor-ready infrastructure projects in LDCs, LLDCs, and SIDS. The concept “Net Resilience Gain” will be discussed as a way to garner long-term commitments to move toward highly resilient infrastructure systems that support national ambitions for uninterrupted critical services in the event of a disaster. Panelists will also explore how a national “Financial Stability Analysis” can help better understand the financial impact of disasters in order to design pro-cyclical policies and approach to address them.

_Speakers

• Ms. Kerry Hinds, Director, Department of Emergency Management, Barbados

• Mr. Brodie Boland, McKinsey & Company

• Ms. Savina Carluccio, Executive Director, International Coalition for Sustainable Infrastructure

• Mr. Sean Kidney, Climate Bonds Initiative