The United Nations and consultancy PwC warned businesses that they are exposed more than ever to billions of dollars worth of economic losses linked to natural disaster risks.
With businesses becoming more globalised, IBTimes UK decided to take a look at some of the key charts from the UN International Strategy for Disaster Reduction (UNISDR) and PwC report, where it warns large multinationals' dependencies on international supply chains, infrastructure and markets poses a systemic risk to 'business as usual'.
"The risks posed by natural disasters go well beyond the boundaries of a company's operations. The damaging effects of disasters are reaching beyond protection insurance covering physical assets, and businesses need to consider productivity, declining customer demand and goodwill, and employee morale and stress," said Oz Ozturk, PwC partner and leader of the global initiative. [Fig 1]
Annual economic losses from reported natural hazards were up from $10bn (€7.9bn, £6.6bn) in 1975 to $400bn in 2011. [Fig 2]