Governing systemic risk: Exploring governance arrangements that are fit for purpose in the 21st century
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Risk is becoming increasingly multi-dimensional with knock-on effects among interconnected social, environmental, political, and economic systems. These risks are manifesting in major crises with cascading effects and having a real potential to undermine the achievement of the SDGs, as COVID-19 is a stark reminder of. A new risk governance paradigm is called for that can navigate the new normal in a post COVID world and is equipped to manage systemic risk.
This session brings together a range of experts from different backgrounds to share their perspectives on systemic risk and governance and to discuss a new study of UNDP that explores how the concept of systemic risk can be translated from an abstract global concern to a issue that is central to the achievement of the SDGs and relevant to the agenda of national and local governments supported by UNDP.
The experts will address the following questions:
- What do we know about systemic risk and how is it managed?
- What are the building blocks of effective risk governance systems that are fit for purpose to manage systemic risk in the 21st century?
- What are the challenges and barriers that impede systemic risk governance?
- What are the new forms of public & societal accountability needed to leave no one behind today and in future generations?