Disaster Risk Reduction

Introduction to Disaster Risk Reduction (DRR)

Disaster Risk Reduction (DRR) refers to the systematic approach to identifying, assessing, and reducing the risks of disaster. It aims to minimize vulnerabilities and disaster risks throughout a society, to avoid or limit the adverse impacts of hazards, within the broader context of sustainable development. DRR is essential for building resilient communities, ensuring safety, and mitigating both human and economic losses caused by natural and human-made disasters.

Disasters—whether natural, such as earthquakes, floods, hurricanes, or human-made, like industrial accidents or armed conflicts—can severely impact lives, economies, and the environment. DRR focuses on proactive measures to reduce the likelihood of such events turning into catastrophic disasters. This approach is not just about emergency response but emphasizes understanding the root causes of risk, managing and reducing them, and fostering a culture of preparedness.

DRR at Aitken Spence

Formation of DRR Team

Aitken Spence established its Disaster Risk Reduction (DRR) team in 2018 to address vulnerabilities and risks posed by climate change, manmade disasters and business risks. The Company first started with educating the managing directors on the importance of DRR and how it should be incorporated into the strategy. This approach effectively cascaded the intention from the topdown to the subsidiaries for more practical action.

Collaborations began with significant stakeholders like the Asia Pacific Alliance for Disaster Management (APAD) and the Sri Lanka Preparedness Partnership (SLPP) to enhance disaster preparedness and develop effective risk reduction strategies.

Training and Capacity Building

Since its formation, the DRR team has participated in “refresher training programs” and field visits to better understand vulnerability assessments and risk mitigation strategies. The team received updated training in 2023, further bolstering its preparedness for potential natural disasters.

Key Strategic Partnerships

Partnership with APAD and SLPP strengthened the ability of the DRR team to collaborate with local and international entities, ensuring that Aitken Spence remains proactive in disaster management and business continuity.

Integration into Sustainability Framework

DRR and climate change mitigation became core components of the company’s broader sustainability efforts. The DRR team’s activities align with the company’s sustainability policy, emphasizing risk preparedness and contributing to Aitken Spence's net positive impact on ecosystems and biodiversity.

Disaster-Specific Risk Management

The company established disaster recovery plans targeting specific extreme weather events like cyclones, floods, and landslides and manmade disruptions such as terrorism, riots and business disruptions, ensuring that operational continuity is maintained even in the face of significant disruptions.