Press Release
November 5, 2012

Legarda Urges Disaster Resilience of Business Sector,
Redefines Corporate Social Responsibility

In light of Superstorm Sandy's impact on businesses in affected areas in the United States, Senator Loren Legarda today reiterated her call for a disaster-resilient business sector in the Philippines.

Legarda, United Nations Regional Champion for Disaster Risk Reduction and Climate Change Adaptation for Asia-Pacific, noted reports stating that Superstorm Sandy is one of US' most costly disasters as estimated loss to the nation's economy reached $50 billion.

"Businesses in areas affected by Superstorm Sandy were closed longer than expected because of electric shut down, utility losses, halted transit operations and road closures, thus resulting to huge economic losses. This scenario in a powerful nation should encourage other countries, especially developing ones including the Philippines, to take aggressive steps in ensuring the resilience to disasters not only of our households, residential communities, infrastructure and public places, but also of the business sector," she stressed.

"It is important that private companies are able to come back to business as soon as possible every after a disaster, thus, they should be encouraged to come up with their business continuity plans that will show how prepared they are to face disasters," said Legarda.

Legarda urged private business groups to promote robust and effective business continuity planning.

Business continuity plans make post-disaster recovery fast and efficient. The plan ensures that the business entity is least affected and can resume operations in the least amount of time.

Legarda further redefines corporate social responsibility, urging the business sector to work in tandem with the government and local communities to ensure that amid threats of hazards and extreme weather events, our development goals are still within reach.

"The higher value of corporate business is not found in the monetary profit it brings neither in the wealth it creates, but in the nobility of purpose - to improve the quality of life of the people and to build a sustainable and resilient human society. What could be more rewarding than knowing that one's business, however big or small, has made a difference in making a village community or the country as a whole, a safer and happier place to live in? Isn't this the essence of corporate social responsibility?"Legarda said.

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