Systemic risks can undermine progress towards poverty alleviation and development. As repeatedly demonstrated by financial crises, events in one country can have effects across borders, impacting jobs, employment and growth, and social and environmental systems. Instability, crime, poverty and inequality can have local, national, regional and international implications. Therefore, international cooperation is essential to addressing these risks and can boost the economic, social, and environmental performance of all countries. While important steps have been taken to reduce vulnerabilities in the international system and to increase the voice of developing countries, more needs to be done.