Logo of Phnom Penh Post newspaper Phnom Penh Post - US$126 million is lost every day to natural disaster in the Asian-Pacific




US$126 million is lost every day to natural disaster in the Asian-Pacific

Content image - Phnom Penh Post
Villagers in Lao stay on the roof after dam collapsed causing flooding in July.

US$126 million is lost every day to natural disaster in the Asian-Pacific

HANOI (Viet Nam News/ANN) - When natural disasters occur, it is often the most vulnerable such as children, women and the indigenous that are most severely affected. This, in turn, hampers the nation’s effort to reduce poverty.

Two years ago, Asia-Pacific lost US$126 million a day due to natural disasters.

In 2016, 0.4 per cent of the Asia-Pacific region’s GDP was lost to natural disasters, with some 11.2 million people displaced. By the year 2030, GDP losses are estimated hit 1 per cent.

In percentage of annual capital investment, 2016’s loss amounted to 5 per cent of the figure, a very high number compared to other parts of the world such as Europe and Central Asia.

Many ASEAN countries are among the most affected by climate change, especially the Philippines and Vietnam, said a report by the United Nations International Strategy for Disaster Reduction (UNISDR).

Rapid urban development contributed to the issue as ability to build resilience isn’t keeping up with growth, creating more risk.

When natural disasters occur, it is often the most vulnerable such as children, women and the indigenous that are most severely affected. This, in turn, hampers the nation’s effort to reduce poverty.

The report was represented to panellists and audience during a conference themed ‘Mapping a path to regional resilience’ during the ongoing WEF on ASEAN 2018 today in Hanoi.

Mami Mizutori, UN Special Representative for Disaster Risk Reduction, urged ASEAN’s governments, the private sector, civil societies and all stakeholders to invest in making the region more resilient to natural disasters.

"Businesses have to consider that disaster risk is as important assessing the economic stability, political stability of a country or a location you’re investing in," said Mami Mizutori, UN Special Representative for Disaster Risk Reduction.

Other panellists suggested societies as a whole with the support of modern technology must drive efforts to seek solutions to mitigate the damage caused by natural disasters and climate change.

They recommended that building resilience to natural disasters be at the centre of urban planning and development and initiative must be taken by policymakers and financial institutions to encourage projects that contribute to realising that objective.

"Think about people not as victims but as actors, and as assets to reduce natural disaster risks," said Joachim von Amsberg, Vice President for Policy and Strategy of the Asian Infrastructure Investment Bank.

MOST VIEWED

  • Body of woman killed in Bangkok returns

    The Cambodian embassy in Thailand is working to repatriate the body of a casino dealer who was shot dead in Bangkok on Monday night. Ministry of Foreign Affairs and International Cooperation spokesman Kuy Kuong told The Post on Wednesday that officials are preparing paperwork to

  • Chikungunya hits 15 provinces, says gov’t

    Ministry of Health spokeswoman Or Vandine said on Thursday that the chikungunya outbreak in the Kingdom has spread to 15 provinces. Some 1,700 people are now suspected to have the disease. Vandine urged people to prevent its further spread by eliminating shelters for the Aedes aegypti mosquitoes

  • Gov’t exempts visa A and B holders from Covid fees

    Airline passengers who are diplomats and officials of international organisations holding Type A and B visas for travel to Cambodia are exempted from paying Covid-19 testing fees, said the Ministry of Health in its latest adjustment of rules on Wednesday. Health Minister Mam Bun Heng

  • Bill covering dress code draws ire

    Ministry of Interior secretary of state Ouk Kim Lek responded on Tuesday to criticism concerning a draft law that would ban women from wearing overly revealing clothing, saying that input from all parties will be considered as the law moves through the promulgation process. Several

  • Passing the test: Is Cambodia’s education system failing its people?

    The Kingdom’s education system needs to grow its people but some flaws might stifle​ this growth Coming from the Khmer Rouge occupation, with the loss of many scholars and academicians and a collapsed government, the education system had to be reconstructed from scratch – one

  • What’s the deal with Cambodia and China’s FTA?

    Cambodia’s Free Trade Agreement (FTA) with China kicks off a series of FTAs in future but for now, critics wonder what else the parties could bring to the table apart from what it already has to date By the end of this year, Cambodia