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Disaster philanthropy is at a critical juncture. Around the world, disasters are increasing in frequency and severity, predominantly due to climate change, and their economic and social impact is predicted to reach unprecedented levels within the next four decades. As the threat of disaster intensifies, disaster philanthropy must evolve radically in order for communities and economies to thrive. The private sector is uniquely positioned to apply agility, expertise, and resources to the problem, and thus strengthen the safety and well-being of generations to come.
This Giving Thoughtsarticle describes challenges and opportunities for corporations willing to step up and reimagine the future of disaster philanthropy.
The way that governments, businesses, multilateral agencies, and foundations are approaching disaster recovery and risk reduction is inadequate and misaligned, given the magnitude of the looming crisis. Disaster relief, for example, accounted for just 2 percent of overall corporate giving in 2016, with the vast majority of gifts directed to immediate disaster relief, as opposed to risk reduction.12 Globally, more than five times as much is spent on response versus reduction
The United Nations warns that disasters pose as much of a threat to\ social and economic development as major diseases like tuberculosis in the developing world. By 2050, it is estimated that 40 percent of the global population will be living in river basins, particularly in Africa and Asia.