Asian businesses build resilience against disasters

Bangkok, Thailand – Economic losses from natural disasters in Asia-Pacific have shown a dramatic upward trend in recent decades. Between 2004 and 2013, disasters cost the Asia-Pacific region an average of USD 73.8 billion annually compared to USD 1.8 billion per year in the 1970s. The rise is in stark contrast with the decrease in human casualties over the past decades – a development that has resulted from sustained preparedness efforts across the region.

More than 200 business leaders, government representatives and disaster risk reduction experts convene at the Asian Business Forum on Risk Reduction and Resilience Building this week in Bangkok to identify solutions to protect financial assets from the increasing disaster risks. While the private sector is the primary generator of wealth in the region, it also bears the brunt of disaster impacts – much of which could be avoided with improved understanding of risks and strengthened preparedness measures.

“Private companies and global supply chains are increasingly affected by disasters such as earthquakes, flooding and drought. With proper planning, companies can avoid business disruptions and at the same time help preserve the region’s hard-earned development gains,” said Aslam Perwaiz, Head of the iPrepare Business facility at Asian Disaster Preparedness Center.

Countries around the world have signed up for the global Sendai Framework for Disaster Risk Reduction that emphasizes the need for businesses to integrate disaster risk management and business continuity into business models and practices.

“Small and medium enterprises are particularly vulnerable to disaster impacts. In Thailand, for example, they account for nearly 40 percent of the country’s GDP. With the severe drought affecting the region this year, private sector resilience is particularly topical,” Mr. Perwaiz added.

Organized by Asian Disaster Preparedness Center, the forum provides an opportunity for stakeholders to share best practices in building resilience in the private sector, paving the way for closer collaboration between private enterprises, governments and development partners in managing disaster risks.

The forum is supported by the Asian Development Bank, Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ), Global Disaster Preparedness Center, and The Asia Foundation.