This is a ‘think piece’ on systemic risk governance for the 21st century. It aims to foster the understanding of systemic risk and the actionable ways of promoting risk governance at local and national levels, while promoting cross-practice collaboration within UNDP on risk reduction and prevention. The paper is based on an extensive review of the specialized literature on the theme and a generic analysis informed by five case studies that examine distinct aspects and expressions of systemic risk (Bangladesh, Colombia, Dominica, Uzbekistan and Zimbabwe).