GAR 2015 Main Report

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highly on the radar screens of senior executives in global corporations.

Whether risk awareness is maintained over the medium and long term would seem to depend on disaster frequency. When intensive disasters are very infrequent, as in the case of Indian Ocean tsunamis, inter-generational awareness of disaster risks may fade. To cite an extreme example, it is highly doubtful whether earthquake risk awareness is still strong in the south-east of England as a result of the Canterbury earthquake on

21 May 1382. As a result of migration, populations that may have lived in an area for decades are unaware of the risks manifested in historical disasters hundreds of years ago. In addition, increasing geographical mobility now means that people frequently live, work and travel far from the areas and disaster risks they are familiar with.

As highlighted by the case of Ratnapura, extensive disasters clearly shape risk awareness in a far more tangible way in the localities where they

(Source: UNISDR with data from EM-DAT and national disaster loss databases.)

Figure 7.2 Disaster records in global (left) and national databases (right)

Box 7.2 Increasing awareness of disaster and climate risks

Around 70 per cent of companies responding to a recent survey by the Carbon Disclosure Project identified clear business continuity risks to their supply chains and thus risks to their revenue streams due to climate change and the resulting extreme weather events (CDP, 2013

CDP (Carbon Disclosure Project). 2013,Reducing Risk and Driving Business Value, CDP Supply Chain Report 2012-13. London.. .

). Most importantly, more than half of these risks have either already impacted these companies or are expected to do so within the next five years (ibid.).

Local surveys of a similar nature reflect these global results and show that awareness of climate risk in particular is rising across the globe. For example, of more than 300 businesses responding to an annual survey on climate change in Hong Kong, 82 per cent identified disruptions due to extreme weather as critical risks, compared to “only” 44 per cent in 2010 (BEC CCBF, 2014

BEC (Business Environment Council) and CCBF (Climate Change Business Forum). 2014,2013 Hong Kong Business Survey on Energy Efficiency & Climate Change, Executive Summary.. .

).

However, smaller companies may be less aware of the potential scale of climate risks (Ceres, 2013

Ceres. 2013,Insurer Climate Risk Disclosure Survey: 2012 Findings & Recommendations, March 2012. Authored by Sharlene Leurig and Andrew Dlugolecki. Boston.. .

). Among 184 companies surveyed in the insurance sector, only 23 large companies had a “specific, comprehensive strategy to cope with climate change” (ibid., p. 7). The approaches of others range from viewing climate change as a risk inherently captured in their enterprise risk management strategies to an environmental issue immaterial to their business.

	135 highly on the radar screens of senior executives in global corporations. Whether risk awareness is maintained over the medium and long term would seem to depend on disaster frequency. When intensive disasters are very infrequent, as in the case of Indian Ocean tsunamis, inter-generational awareness of disaster risks may fade. To cite an extreme example, it is highly doubtful whether earthquake risk awareness is still strong in the south-east of England as a result of the Canterbury earthquake on 21 May 1382. As a result of migration, populations that may have lived in an area for decades are unaware of the risks manifested in historical disasters hundreds of years ago. In addition, increasing geographical mobility now means that people frequently live, work and travel far from the areas and disaster risks they are familiar with. As highlighted by the case of Ratnapura, extensive disasters clearly shape risk awareness in a far more tangible way in the localities where they (Source: UNISDR with data from EM-DAT and national disaster loss databases.) Figure 7.2 Disaster records in global (left) and national databases (right) Box 7.2 Increasing awareness of disaster and climate risks Around 70 per cent of companies responding to a recent survey by the Carbon Disclosure Project identified clear business continuity risks to their supply chains and thus risks to their revenue streams due to climate change and the resulting extreme weather events (CDP, 2013 x CDP (Carbon Disclosure Project). 2013,Reducing Risk and Driving Business Value, CDP Supply Chain Report 2012-13. London.. . ). Most importantly, more than half of these risks have either already impacted these companies or are expected to do so within the next five years (ibid.). Local surveys of a similar nature reflect these global results and show that awareness of climate risk in particular is rising across the globe. For example, of more than 300 businesses responding to an annual survey on climate change in Hong Kong, 82 per cent identified disruptions due to extreme weather as critical risks, compared to “only” 44 per cent in 2010 (BEC CCBF, 2014 x BEC (Business Environment Council) and CCBF (Climate Change Business Forum). 2014,2013 Hong Kong Business Survey on Energy Efficiency & Climate Change, Executive Summary.. . ). However, smaller companies may be less aware of the potential scale of climate risks (Ceres, 2013 x Ceres. 2013,Insurer Climate Risk Disclosure Survey: 2012 Findings & Recommendations, March 2012. Authored by Sharlene Leurig and Andrew Dlugolecki. Boston.. . ). Among 184 companies surveyed in the insurance sector, only 23 large companies had a “specific, comprehensive strategy to cope with climate change” (ibid., p. 7). The approaches of others range from viewing climate change as a risk inherently captured in their enterprise risk management strategies to an environmental issue immaterial to their business.	Page 1 Page 10 Page 20 Page 30 Page 40 Page 50 Page 60 Page 70 Page 80 Page 90 Page 100 Page 110 Page 120 Page 125 Page 126 Page 127 Page 128 Page 129 Page 130 Page 131 Page 132 Page 133 Page 134 Page 135 Page 136 ->Page 137 Page 138 Page 139 Page 140 Page 141 Page 142 Page 143 Page 144 Page 145 Page 146 Page 147 Page 148 Page 149 Page 150 Page 160 Page 170 Page 180 Page 190 Page 200 Page 210 Page 220 Page 230 Page 240 Page 250 Page 260 Page 270 Page 280 Page 290 Page 300 Page 310