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- Permanent Link:
- http://dpanther.fiu.edu/dpService/dpPurlService/purl/FI13022759/00001
Notes
- Summary:
- This report engages the private sector in the process of disaster risk reduction (DRR) in order to mitigate the economic costs of disaster. It makes a set of recommendations for direct action by industry in public-private partnership with governments and civil society stakeholders. Over the past thirty years or so, the number of disasters has increased from an average of 150 annually to over 450 a year. The surge in extreme weather events is particularly of note. This rise in the number and intensity of disasters is predicted to have a significant impact on sustainable development. According to the Intergovernmental Panel on Climate Change (IPCC), a global mean loss of 1 to 5% of gross domestic product (GDP) is expected with every 4 degrees Celsius of global warming. The impact in the developing world will be particularly acute considering the rapid population growth and unplanned urbanization currently taking place in areas at risk from a variety of hazards. This report presents the findings of a series of dialogues sponsored by the World Economic Forum involving corporations, governments, academics, and civil society organizations specifically focuses on increasing the role of the private sector in addressing disaster risks. While the private sector has been involved in specific projects dealing with risk, it has not been party to more comprehensive initiatives. Four areas of opportunity presented in this report are a) Monitoring Hazards and Communicating Risk, which includes the dissemination of information, establishment of warning systems, and the enforcement of building codes; b) Socio-Physical Strengthening, which involves the development of environmental standards and the provision of irrigation services; c) Sharing Financial Risk, which entails disaster insurance for business and homeowner loans, as well as disaster bonds; and d) Disaster Preparedness, which addresses the issues of flood management and communication’s tools. In terms of recommendations, the report calls for businesses to place greater emphasis on making cost-benefit analyses for resilience measures a more visible aspect of their business strategies and communications. It also suggests improving the classification of at-risk communities, systematic communication of findings, development of new insurances, promotion of catastrophe bonds, land use planning, communication of risks and resilience building in inventive ways, and the creation of real-time databases that can inform not only policy-makers but also the general population. ( English )
- Subject:
- General Risk Management ( English )
- Scope and Content:
- Preface p. 4; Introduction: Natural Disasters 2007 – Unprecedented Costs, Unprecedented Opportunities p. 5; Overview: Private Sector Priorities and Rationale p. 7; Catalysing Deeper Industry Engagement p. 17; For Further Study p. 18; Footnotes p. 18 ( English )
- Citation/Reference:
- (2008). Building resilience to natural disasters: a framework for private sector engagement. World Economic Forum, The World Bank, and United Nations International Strategy for Disaster Reduction (UNISDR).
Record Information
- Source Institution:
- Florida International University
- Rights Management:
- © 2008 World Economic Forum, The World Bank, United Nations International Strategy for Disaster Risk Reduction. All rights reserved. No part of this publication may be reproduced or transmitted in any form or by any means, including photocopying and recording, or by any information storage and retrieval system.
- Resource Identifier:
- FI13022759
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