This report from the United Nations Development Programme and Mohammed bin Rashid Al Maktoum Knowledge Foundation explores how to strengthen countries' resilience and ability to recover, and develop plans and strategies to address sustainable and comprehensive development paths. The report highlights the role of transformative capacities, which are the mechanisms that enable countries to respond effectively to shocks and maintain their achievements in terms of well-being and development outcomes. The report aims to support national leadership in ensuring preparedness for global risks in the future and builds on previous issues to explore best methodologies and practices for countries to enhance their transformative capacities in a global context characterized by risks, disruptions, and challenges, particularly health, environmental, and technological risks. The report covers various topics such as research and development, governance, companies, climate change, pollution, health, vaccines, knowledge, and more. The report emphasizes the importance of enhancing transformative capacities in facing future risks.