Advances and challenges in DRR investment and financing: an analysis in three parts – Part I. Introduction and Section 1: Capitalising on history to address challenges in disaster risk reduction (DRR) investment and build our common future (A UNDRR–RAR 2024 epilogue)

Purpose This contribution examines historical trends, persistent challenges, and strategic recommendations for disaster risk reduction (DRR) investment and financing in Latin America and the Caribbean (LAC), contextualized within global frameworks such as the Hyogo and Sendai Agreements. Design/methodology/approach The contribution synthesizes historical aspects of the development of DRR financing and investment demands and justifications, focusing on pre- and post-Hyogo Framework periods (1970s–2024). Findings Persistent underfunding of corrective and prospective DRR, systemic data gaps, and fragmented governance are identified. The study advocates for intersectoral DRR financing as a core component of sustainable development. Originality/value This work consolidates historical insights and perspectives to propose actionable solutions for policymakers, addressing gaps in DRR financing literature specific to LAC.