Active private sector involvement is essential - Arun Sahdeo

"Insist on active participation of the private sector in disaster risk reduction efforts and put in place a system to institutionalise their involvement." - Arun Sahdeo, UNDP, New Delhi, India

Disaster Risk Reduction is a collective responsibility of the Governments, scientific institutions, UN agencies, the private sector and non-governmental organisations. Though we have made significant achievements in reducing precious human lives on account of disasters, the economic losses over the years have been on the rise. Climate Change is going to further accentuate the complexities and challenges of disaster risks in future.

Private sector investments would be driving future economic growth in the emerging economies. However, sustaining such growth would depend, to a large extent on resilience of assets, institutions and communities to disasters and climate risks. This is more so in highly interconnected and interdependent corporate world which we have experienced during Thailand floods. The supply-chain disruption due to floods in Thailand had cross country impact on business across verticals.  

The world community must insist on active participation of the private sector in disaster risk reduction efforts and put in place a system to institutionalise their involvement.