A statement by the Counselor for Economic and Social Affairs of Israel, stating that now is the opportunity to reflect on the best ways to implement policies that recognize the value of investing in disaster risk reduction and ensuring a safer tomorrow. Issues addressed: (i) how the cost of responding to disaster significantly outweighs the costs of preventing their impact through risk reduction; (ii) inadequate urban planning and infrastructure undermine a country's ability to cope with the impact of disasters; (iii) Israel's efforts to address urban risk through public investment and a program called Tama 38, which offers tax and planning incentives to the private sector to reinforce buildings that do not comply with Israeli earthquake-resistant building codes; and (iv) how the impact of natural disasters can be substantially reduced if people are well informed through a culture of disaster prevention and resilience promoted by governments.