A Matter of Survival: Disaster Risk Financing in Latin America and the Caribbean

Countries in Latin America and the Caribbean region are disproportionately affected by environmental disasters, which are becoming more costly, frequent, and intense due to climate change. There is evidence that preparing for climate disasters ex-ante (before the event, lowering vulnerability and increasing resilience) is much more effective than responding to disasters ex-post (after the event, focusing on recovery and reconstruction). However, the region lacks access to early funding for disaster preparedness, which leaves countries stuck in the vicious cycle of repairing after a crisis, only to wait for a new climate disaster to come. Governments, international organizations, and various other stakeholders have a crucial role in improving climate adaptation plans and building climate resilience in these territories. Pre-arranged disaster risk financing and anticipatory action are among the innovative solutions needed for Latin America and the Caribbean to not only survive, but also thrive as leaders in the transition for a sustainable future.
Speaker: Renata Koch Alvarenga