Issue of November 4, 2018
     
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Legarda suggests integration of DRR in investment strategies
by Press release

Senator Loren Legarda urged public and private sector leaders to incorporate disaster risk reduction principles in their investment strategies and plans to avert economic losses.

The senator made the call during the celebration of the International Day for Disaster Reduction recently.

Legarda, Global Champion for Resilience of the United Nations Office for Disaster Risk Reduction (UNISDR), said that this year’s celebration focuses on Target C of the Sendai Framework, which aims to reduce direct disaster economic losses in relation to global gross domestic product (GDP) by 2030.

“What recent studies confirm is that our economic losses from disasters, especially from climate change impacts, have been far greater than before. This further compels us to reduce disaster risks and address climate impacts by integrating these measures in our anchor strategies and plans,” Legarda said.

Citing the report “Economic Losses, Poverty and Disasters 1998-2017” released by the UNISDR, Legarda said that from 1998 to 2017, countries reported direct economic losses of $2.908 billion, with climate-related disasters accounting for 77 percent or $2.245B.

Legarda said that the study reported that in low-income countries, an average of 130 people died per million living in disaster-affected areas, compared to just 18 in high-income countries, which entails that people exposed to natural hazards in the poorest nations were more than seven times more likely to die than equivalent populations in the richest nations.

The Senator noted that the National Economic and Development Authority had earlier reported that disasters cost the Philippine economy P206B yearly, with an annual cumulative impact reaching 0.5 percent to 0.6 percent of the country’s GDP.

“The UN report reflects the unfortunate reality that many of our poor Filipinos experience in our disaster-prone country. Poverty breeds inequality by exacerbating our people’s risk and vulnerability to disaster and climate impacts. We need to bridge the gap in resources and information our communities need in order to build resilience against these disasters,” Legarda said.

“Our authorities and leaders at all levels must fully understand and appreciate the risk and vulnerability that prevail in their communities, and let science inform their local plans of action and ensure that investments build local resilience and bring about a safer society and a more sustainable future,” she said.


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