The case for regional post-natural disaster preparation

Abstract

The private sector is becoming increasingly responsible to society and the environment. To this end, instead of simply contributing aid after a disaster, firms should establish relationships in advance, investing in regional growth through a post-natural disaster preparation pact. The pact should be a regionally focused partnership agreement — a natural disaster equivalent to the Kyoto Protocol. By coordinating preparation mechanisms through investment and collaboration before disasters hit, companies not only show confidence in the economy, encouraging regional cooperation and fostering economic growth, but also raise awareness of impending threats. Natural disasters affect all areas of life and livelihood; it is therefore beneficial for everyone to work together in advance to improve mitigation strategies and facilitate management processes in disaster recovery.