November 12, 2024, Baku, Azerbaijan, The Asian Disaster Preparedness Center (ADPC) and Coalition for Disaster Resilient Infrastructure (CDRI) today hosted an event at the COP29 in Baku, highlighting the significance of mainstreaming disaster risk considerations into development & financial planning. The event, titled "Public Finance at the Forefront: Integrating Disaster Risk into Development & Financial Planning" delved into the need for ex–ante financing interventions and public finances in mainstreaming Disaster Risk Finance, providing the necessary tools and resources to enhance resilience, protect lives, and ensure sustainable recovery from disasters.

Public finance is pivotal in mainstreaming Disaster Risk Finance (DRF), essential for building resilience against natural disasters and minimizing their socioeconomic impacts. Governments, international organizations, and public financial institutions are key actors in this process, as they provide the financial mechanisms and resources needed to anticipate, prepare for, and respond to disasters.

The need for risk reduction is highlighted in the Sendai Framework for Disaster Risk Reduction, 2015-2030 and the emphasis on absorbing disaster resilience costs within broader investment allocations was explained by the panelists, Aholotu Palu, Mr. Ede Ijjasz-Vásquez and Mr. Rowan Douglas.

Mr. Aslam Perwaiz, Deputy Executive Director of ADPC in moderating the session said, “As the world faces increasing climate-related disasters and complex risks, the need for comprehensive, resilient financial frameworks has never been more urgent.” This event aimed to drive forward the conversation on how public finance systems can proactively incorporate disaster risk management and climate resilience into development planning, budgeting, and financing mechanisms.

The Asian Disaster Preparedness Center (ADPC), as a regional leader in disaster risk reduction, has been at the forefront of advocating for the integration of disaster risk reduction (DRR) into development and financial planning. ADPC’s commitment to promoting resilient financial systems aligns with the global call to "leave no one behind" and ensures that development progress is not undermined by the growing threats of climate-induced disasters.