RAISING more funds for disaster risk reduction initiatives is the aim of the Asia-Pacific Ministerial Conference on Disaster Risk Reduction (APMCDRR), which the Philippines is hosting on October 15-18.
"A dollar invested in prevention pays back four, seven, or even 12 dollars, yet we still are not investing enough," United Nations Secretary-General for Disaster Risk Reduction Kamal Kishore said at a media reception on Monday.
The conference will discuss the application of science and technology, multi-stakeholder engagement and private sector involvement in disaster risk reduction.Proactive measures are essential to minimize the impact of natural disasters, particularly in a region frequently affected by climate-related disasters, Kishore pointed out, as he noted the importance of moving beyond traditional funding mechanisms to innovative financial solutions.
Environment Secretary Maria Antonia Yulo-Loyzaga said a co-chairman statement and an outcome document will be issued by the end of the conference.
She cited the importance of institutionalizing initiatives within state colleges and universities to ensure sustainability amid political shifts: "So, when a political administration changes, the knowledge continues to develop... in the local government."
The Philippines is a model for localizing disaster risk management efforts, Kishore said, noting the country's role in handling the loss and damage fund, a campaign supported by President Ferdinand Marcos Jr.Kishore added the Philippines will also host the next APMCDRR board meeting in December, building on the momentum from the 2023 United Nations Climate Change Conference or Conference of the Parties of the UNFCCC (COP28).
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