Unleashing the power of the private sector: Amplifying disaster risk reduction in the Americas and the Caribbean

Source(s): ARISE Uruguay
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The VIII Regional Platform for Disaster Risk Reduction in the Americas and the Caribbean was held in Punta del Este, Uruguay from February 28 to March 2, 2023. The conference brought together regional stakeholders to exchange experiences and make decisions on implementing the Sendai Framework. The event aimed to foster collaboration and cooperation among governments, intergovernmental bodies, the private sector, civil society, scientific-technological communities, youth, cooperation agencies, and donors towards a common goal of managing disaster risk in the region.

The hybrid event offered a relevant space for discussions on science, technology, and Early Warning Systems, which are essential tools for comprehensive disaster risk management. The event featured parallel sessions, side events, and learning labs with the active participation of all stakeholders, including the private sector.

ARISE Network: Uniting Stakeholders for Disaster Risk Reduction in Uruguay's Resilient Private Sector

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Uruguay launched the ARISE Network during the event, which brought together various stakeholders to work towards reducing disaster risk in the country. The private sector played a significant role in structuring the ARISE Network at the regional level, highlighting the understanding that resilience in the business sector must involve organizations that are part of local and global supply chains. Private sector representatives contributed as moderators and panelists, demonstrating the importance of public-private partnerships in disaster risk reduction efforts.

Insuring Resilience: Harnessing Insurance for Climate-Related Disaster Risk Reduction

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One of the key side event discussions at the Regional Platform was the role of insurance in disaster risk reduction, particularly regarding extreme events associated with climate change. Participants highlighted the importance of leveraging the information generated by the insurance sector regarding risk knowledge, which can optimize planning and facilitate risk-informed investments. Additionally, it was emphasized that the insurance sector must ensure agile, modern, and accessible products for all levels of risk and economies of governments, businesses particularly Micro, Small and Medium Enterprises (MSMEs), and the general population, specifically the most vulnerable.

Empowering MSMEs: Unleashing Digital Transformation for Resilient Business Networks

Another significant side event at the conference was the resilience of Micro, Small and Medium Enterprises (MSMEs). Digital transformation emerged as a potential ally for enhancing the resilience of these enterprises, but the high cost of digital infrastructure and the lack of access to financing can hinder its adoption. Participants called for large companies to develop collaborative relationships through their supply chains by offering their knowledge and capabilities to help MSMEs become resilient and strengthen production chains against disasters.

Showcasing Resilient Solutions: A Glimpse into Disaster Risk Reduction at the Regional Platform 2023 Expo

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The Regional Platform 2023 Expo showcased various initiatives contributing to disaster risk reduction from academic, institutional, and private stakeholders. One of the highlights of the Expo was the ARISE Networks booth, which brought together several countries such as Argentina, Brazil, Chile, Colombia, Costa Rica, Dominica, Haiti, Mexico, and Panama, as well as the subregional networks Integrarse and CARICHAM and emphasized the private sector's role as a key player in disaster risk reduction. The Expo successfully balanced in-person and virtual participation, enabling broader engagement and dissemination of the presented initiatives.

Overall, the VIII Regional Platform proved to be a valuable opportunity for disseminating knowledge, fostering collaboration, and building collective resilience among different regional actors. The event highlighted the importance of public-private partnerships in disaster risk reduction efforts and emphasized the need for coordinated efforts to achieve the Sendai Framework's objectives.


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