Updated: Jan 21, 2020
Resilience is often at the fore of public sector conversations, and rightfully so. Looking towards the private sector, how can businesses play a larger role in building resilience against climate-related disasters?
On March 5, Karp Strategies’ Graduate Associates Yuri Chang and Cheryl Lim attended a discussion on disaster risk reduction led by Chloe Demrovsky, President of Disaster Institute International and hosted by NYU Wagner’s School of Public Policy.
90% of all naturally-induced disasters are climate-related, Demrovsky explained, and every dollar spent on disaster risk reduction prevents $5 to 10 in economic losses related to disasters. Though businesses are large contributors to climate change, they can also be a part of the solution. Companies are increasingly building new facilities and offices with resilient designs, and have partnered with disaster relief agencies to ensure that critical infrastructure such as supply chain operations, along with neighborhood services such as pharmacies and ATMs are back up and running soon after natural disasters strike. She also made the case that private sector investment in resilient infrastructure would better ensure employees’ safety and ability to work.