Advances and challenges in DRR investment and financing: an analysis in three parts – Part II. Section 2: Expert perspectives on DRR investment and financing

Abstract

Purpose This article aims to synthesize expert analyses on progress, challenges and innovations in disaster risk reduction (DRR) financing and investment since the Hyogo Framework (HF) (2005–2015). It highlights systemic barriers, emerging strategies and lessons for policymakers. Design/methodology/approach Contributions from nine DRR experts are analysed, focusing on historical trends, case studies (e.g. Kenya’s FLLoCA Program) and empirical data from regional initiatives like the InterAmerican Development Bank- IDB- Disaster Risk Management Index. Findings Key issues include persistent underfunding of corrective DRR, over-reliance on risk transfer mechanisms and siloed governance. Successful examples include decentralized climate finance models and parametric insurance innovations. The study underscores the need for intersectoral collaboration and political commitment to equity. Originality/value This work provides a multidisciplinary critique of DRR financing, integrating perspectives from economics, governance and climate adaptation. It offers actionable recommendations to align DRR with sustainable development agendas in Latin America and the Caribbean- LAC.