Grenada Chamber Of Industry And Commerce Joins The Arise Private Sector Network

PR -The Island nation of Grenada is now the eighth country in the Caribbean to join ARISE, the  United Nations Office for Disaster Risk Reduction’s (UNDRR) Private Sector Alliance for  Disaster Resilient Societies. In the Caribbean, global warming has increased the chance of  devastating hazards and prompted the need for improved disaster risk reduction.  

The Grenada Chamber of Industry and Commerce expressed that strengthening Grenada’s  Private Sector is key to building a more resilient society, better prepared to face disasters. The  hope is that by joining the network, Grenada will be able to strengthen capacity and better  utilize resources to implement disaster risk reduction (DRR) policies. 

Emmanuel Duncan, President of the Grenada Chamber of Industry and Commerce, says  “Creating a local ARISE network will help companies make risk-informed business  investments and better factor risk into regulatory and institutional frameworks.” Duncan  continued by stating “The Grenada Private Sector will have the knowledge and tools to reduce  disaster risk and strengthen resilience through increased response prevention and recovery.” 

The ARISE initiative is designed to build risk-resilient partnerships between stakeholders and  the private and public sectors to meet the targets of the Sendai Framework for Disaster Risk  Reduction 2015-2030. The Sendai Framework emphasizes the role of the Private Sector in  applying business strategies that reduce and prevent risk creation, and support recovery from  disasters. This will ensure that the communities in which they operate are more economically,  socially, and culturally resilient. 

This year has been particularly difficult for the Caribbean’s private sector. Alongside the  annual hurricane season, it has also had to confront the challenges of the COVID-19  pandemic. Businesses have been hard hit and many companies are now trying to rebuild their  customer bases, supply chains and distribution networks. On the flipside, the crisis has  provided an opportunity for the Private Sector to reevaluate its resilience. It has also been a  chance to revise National and local disaster risk reduction strategies. 

The Grenada Chamber of Industry and Commerce has committed to broadening the ARISE  network membership in Grenada, educating stakeholders about disaster risk reduction and  collaborating with them to create a more disaster-resilient Private Sector. The work of the  ARISE network could substantially impact the way economies develop in the Caribbean  region. Sharing best practices and collaborating on initiatives can reduce the overall cost of  implementing Disaster Risk Reduction strategies.  

Raúl Salazar, chief of the UNDRR’s Regional Office for The Americas and the Caribbean,  highlighted the importance of developing private sector alliances and networks to help give  the region the structure and the knowledge it needs to move forward. “DRR is a mechanism  to promote sustainability, productivity, innovation and growth. It goes far beyond having a  damage and loss insurance,” said Salazar. 

UNDRR’s activities for Private Sector engagement through ARISE has been supported by USAID’s Office of U.S. Foreign Assistance (USAID BHA).