The emerging economies differ from each other in various economic, political, and cultural ways, but hold a broad understanding and approach on key challenges of sustainable development, climate change mitigation, and disaster risk reduction (DRR). This approach contributes to advancing South–South cooperation (SSC). This article focuses on the approach of these economies to DRR, using the case of Mexico to examine this question. Mexico, one of the world’s most vulnerable countries to natural disasters, has been applauded by leading international DRR figures for its commitment and practical response to DRR. The article explores this DRR response and what Mexico’s story has to offer to other countries in the context of SSC and its emerging role in international development cooperation (IDC). It argues that Mexico’s DRR story has many important positive aspects to contribute to SSC knowledge-sharing and IDC, but it also illustrates continuing challenges of financing, administration, and politics for emerging and developing economies alike.