Private sector remains key vs disasters — Sy

The business sector takes a pivotal role in advancing disaster risk reduction (DRR), Hans Sy, chairperson of the executive committee of SM Prime Holdings, reaffirmed during the United Nations Office for Disaster Risk Reduction (UNDRR) Global Platform 2025 held in Geneva, Switzerland.

Representing the private sector at the Ministerial Roundtable themed “Accelerating Financing and Resilience: Tailored Solutions for DRR,” Sy emphasized the importance of embedding resilience into business strategies.

“Resilience strengthens businesses while safeguarding lives and communities,” he stated. “We know that the government cannot do it alone. The private sector is ready to do more.”

Sy highlighted SM Prime’s commitment to DRR through strategic investments, allocating significant project costs to disaster-resilient infrastructure and leveraging science-based planning.

He also promoted public-private partnerships, such as the Adopt-a-City Program with the National Resilience Council, and capacity-building initiatives with ARISE Philippines (Private Sector Alliance for Disaster Resilient Societies) and the Department of Trade and Industry.

Part of core business strategy

At the High-Level Dialogue on scaling DRR financing solutions, Sy shared insights on what motivates private developers to invest in resilience.

He shared SM Prime’s experience in integrating DRR into its core strategy. “Disasters may be unpredictable, but the impact does not have to be — we can and we must, prepare, mitigate and adapt,” he emphasized.

He cited resilient design features in SM malls, such as elevated structures, rainwater catchment systems, and earthquake-resistant engineering, which have minimized damage and ensured business continuity.