RAR24: Recommendations for sustainable development policies

Disasters threaten sustainable development globally. In Latin America and the Caribbean, they are becoming more frequent and devastating, with an increase of up to 38% in the number of people affected by storms and 19.5% affected by floods between 2019 and 2022 (UNDRR & OCHA, 2023). Fifty-three per cent of global economic losses from disasters occur in the region and 6 of the 10 countries in the world with the highest economic losses from disasters relative to GDP are in Latin America and the Caribbean.

Investment in disaster risk reduction (DRR) has proven to be effective in protecting development gains, enabling resources to close gaps in the implementation of the 2030 Agenda. However, funding for DRR remains minimal, representing only 0.92% of the Official Development Assistance (ODA) received by the region. This low investment in prevention and resilience increases vulnerabilities and leaves many countries, with major structural challenges and narrow fiscal margins, in a state of continuous disaster recovery.

The second Regional Disaster Risk Assessment Report for Latin America and the Caribbean - RAR 24, prepared by the United Nations Office for Disaster Risk Reduction (UNDRR), proposes strategies to strengthen investment and improve financing for DRR. Its main recommendations for sustainable development policies are presented below.

This document is only a preliminary summary of RAR24, with some of its main findings and conclusions. The full RAR24 will be published by the end of September 2024.