Business leaders at Manila meeting establish the Asian Private Sector Partnership on Risk Reduction
BANGKOK (AlertNet) – Some of Asia’s business leaders on Tuesday established the first regional partnership to safeguard their companies against disasters, at meeting in the Philippines’ capital Manila, said the United Nations.
The Asian Private Sector Partnership on Risk Reduction is composed of more than 30 chief executives from companies across different sectors.
The executives are also adopting business continuity plans to minimise losses from disasters, said UNISDR, the U.N. agency on reducing disaster risks, in a statement.
“Disasters are having tremendous economic and human impacts on corporations, private or public and even more on small businesses,” it said.
Last year floods, typhoons and earthquakes caused more than $274 billion of economic losses in Asia alone, it added.
According to UNISDR, floods in Thailand in 2011 shut down 1,000 factories and forced more than 700,000 people out of work. In Japan more than 337 companies went bankrupt after the March 2011 earthquake and tsunami.
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