Resilient Industries : Competitiveness in the Face of Disasters
Industrial activity creates jobs, catalyzes investments and innovation, and raises standards of living in many countries. As climate change, and natural disasters intensify, so too does the risk environment for industry activity. More recently, a v...
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| Format: | Report |
| Language: | English |
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World Bank, Washington, DC
2020
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| Online Access: | http://documents.worldbank.org/curated/en/682501604040773738/Resilient-Industries-Competitiveness-in-the-Face-of-Disasters http://hdl.handle.net/10986/34764 |
| Summary: | Industrial activity creates jobs,
catalyzes investments and innovation, and raises standards
of living in many countries. As climate change, and natural
disasters intensify, so too does the risk environment for
industry activity. More recently, a viral pandemic has
threatened industries and national economies, and the
imperative to secure business continuity and competitiveness
during growing instability has thrust resilience into the
spotlight. The suite of risks posed by climate change and
natural disasters threatens industry’s potential to grow,
generate jobs, and compete. For many developing countries,
disaster-related liabilities may exceed the capacity of
governments to respond, and even national economies may be
threatened. The emergence of industry resilience as a global
discourse is timely; however, industry resilience is a
nascent discipline, and frameworks for its application and
operation remain limited even as threats intensify.
Disasters offer the opportunity, with the right frameworks
in place, to strengthen competitiveness through build back,
better initiatives, and to adapt to long-term climate change
and disaster risks. Despite these insights, and the urgency
to act, however, the evidential basis for policy
intervention and conceptual frameworks for industry
resilience are far from definitive, and gaps in knowledge
remain. As a result, industry resilience policy and action
remain low in both the public and private sectors, and firms
and economies still face significant costs of inaction. |
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