BACKGROUND PAPER Prepared for the 2015 Global Assessment.pdfVIP

BACKGROUND PAPER Prepared for the 2015 Global Assessment Report on Disaster Risk Reduction PRIVATE INVESTMENT AND DISASTER RISK MANAGEMENT Bingunath Ingirige University of Salford, UK Dilanthi Amaratunga University of Huddersfield, UK Mohan Kumaraswamy University of Hong Kong, Hong Kong Champika Liyanage University of Central Lancashire, UK Aslam Perwaiz Asian Disaster Preparedness Centre, Thailand Peeranan Towashiraporn Asian Disaster Preparedness Centre, Thailand Gayan Wedawatta Aston University, UK October 2014 Table of Contents The Background and the Context 3 The current state of disaster risk management investment 4 Financial treatment of disaster risk investment 4 Financing vs transfer of risk 4 Private Sector Involvement 6 Recent initiatives for risk financing 8 The current drivers for private sector investment in DRM 9 The creation of value and equity by effective risk sharing 10 Future considerations 12 Private sector approaches to achieving value out of investment in DRR 12 How to adopt strategies and strengthen implementation of regulations in building resilience for corporate sustainability 13 Private sector influence in supply chain and business continuity planning: a resource based perspective in generating stakeholder value and sustainability 14 Introduction 14 Current state of involvement of priva