Private sector seeks bigger role in disaster risk reduction

MANILA, Philippines–The private sector wants a more active role in disaster risk reduction (DRR) initiatives as world leaders and business executives adopted the Sendai Framework for DRR, a new structure on disaster management.

The Sendai Framework on DRR was adopted as a post agreement after the conclusion of the Hyogo Framework during the 3rd UN World Conference on Disaster Risk Reduction in Sendai, Japan recently.

The Hyogo Framework is a 10-year action plan (2005 to 2015) for governments and business to reduce losses from natural hazards and make the world more disaster-resilient. As the Hyogo Framework ended this year, world leaders agreed to adopt a new framework aimed at improving global targets on DRR in the next 15 years or until 2020.

Some 6,500 delegates from 187 states attended the conference.

SM Prime Holdings Inc. president Hans Sy, the only Filipino member of the UN Private Sector Advisory Board, attended the planning session for the private sector to show his commitment to DRR. Sy has been working with the UNISDR since 2012.

“My experience has proven that investing in resilience of my company assets simply makes good business sense,” said Sy, recalling a statement he delivered at the last global conference in Geneva, Switzerland.

DRR is a continuing agenda that SM advocates to its business partners and communities where they operate. SM raises further awareness for its importance via annual forums, gathering field experts and top business leaders alongside its stakeholders and tenant partners.

Sy believes that disaster resilience is an investment and the efforts to put DRR in business are the right thing to do nowadays in these times of natural calamities.

Sy gave valuable inputs during the planning session of the Private Sector Partnerships especially the collaboration between the government and the private sectors. He actively dialogued with the Philippine delegation in Sendai to encourage disaster resiliency.

Among Sy’s top contributions were insights on insuring small businesses from natural disasters.

Sy said he would like financial and insurance groups to be involved to encourage the business sector to do DRR.

The global targets outlined in the Sendai Framework included increased cooperation among stakeholders, substantial reduction in mortality and economic losses as well as damage to critical infrastructure and disruption of basic services.