Response and Initiatives from the Private Sector to Address the Challenges Posed by Climate Change and Disaster Risks on Human Security

The private sector, encompassing a range of actors, is increasingly exposed to climate change and related disaster risks which are disrupting business operations. These risks are also posing a threat to human security at large, given the key role of the private sector in economic growth, job generation, and poverty reduction. While the role of the private sector in climate change adaptation (CCA) and disaster risk reduction and management (DRRM) is becoming more prominent, there are few literatures on how their initiatives help confront the challenges posed by climate change and disaster risks on human security. This chapter highlights two cases from the Philippines which describes private sector initiatives, entry points for private sector engagement, and actual practices on the ground. Key informant interviews and small group discussions were conducted to validate the gathered information from secondary data. The essential requirements common to these two private sector experiences in order to successfully carry out CCA and DRRM-related programs that contribute to human security are awareness and understanding of the climate change risks to business operations and value chains; recognition of the capacities to enable solutions and sustain action; and strong commitment to actively cooperate with the government, community, and other actors in collectively sharing resources to achieve mutual interests and goals. The stories suggest lessons on how the sector can maximize its resources and enhance its role as a key player in recognizing and adapting to climate change and making unique contribution to ensure a human-secured, progressive, sustainable, and resilient future.