The QBE Foundation has highlighted the need for greater disaster preparedness, particularly focusing on the next generation, as part of the International Day for Disaster Risk Reduction (IDDRR).
The 2024 IDDRR theme, “Empowering the next generation for a resilient future,” emphasises the importance of educating and equipping younger people to address and withstand future disasters.
QBE Foundation’s ongoing efforts aim to reduce vulnerability and improve resilience in communities exposed to various risks, particularly climate-related disasters.
According to recent projections, over 200 million people may need humanitarian assistance by 2050 due to the impacts of climate change. Despite the predictability of many crises, just 1% of global funding is dedicated to preventative measures.
In response, QBE has prioritised climate resilience and inclusivity through collaborations with organisations such as the Red Cross and Save the Children. It is also celebrating the fifth anniversary of its Community Ready partnership, an initiative that evolved from previous collaborations with these global organizations.
Since 2019, QBE has contributed US$5.7 million to disaster preparedness programs, in addition to raising US$303,000 through employee donations. These programs have operated in 22 countries, supporting nearly 500,000 individuals and delivering targeted disaster relief and preparedness efforts.
Several of QBE’s Community Ready initiatives focus on enhancing resilience in vulnerable communities throughout the Asia-Pacific region.
These projects aim to build preparedness, particularly among children and marginalised groups, through education and support systems.
The program, launched in early 2024, is designed to help families, especially women and children, prepare for and respond to natural disasters. Through Save the Children’s efforts, 80 households have been provided with preparedness training, family kits, and resources to implement disaster risk reduction plans.
A child-focused initiative run by Save the Children, this project helps children understand the effects of climate change and encourages them to engage in disaster preparedness activities. It includes workshops, beach clean-up days, and educational trips aimed at fostering awareness and resilience among young people.
In collaboration with the Singapore Red Cross, this program supports more than 100 children from underprivileged backgrounds, providing them with basic necessities, education, and mentorship.
The initiative works to address issues such as literacy and social support to offer these children better opportunities for the future.
In South Australia, the Australian Red Cross runs this program to help vulnerable people cope with extreme heat during heatwaves.
The program provides daily check-ins for isolated individuals, especially the elderly, to ensure their safety during periods of high temperatures, which pose a significant risk in Australia.
QBE highlighted its major resilience-building initiatives across Asia-Pacific amid the rising costs of natural disasters worldwide.
A report from Verisk revealed that global natural catastrophes now account for an average annual loss (AAL) of $151 billion, with non-crop losses making up $119 billion of that figure.
Over the past five years, property replacement values have grown by an average of 7.2%, driven by inflation and increased construction in key markets.
These growing losses underscore the need for enhanced disaster preparedness and community resilience. As the frequency and severity of natural disasters increase, forward-thinking initiatives remain critical to helping communities mitigate the impacts and recover more effectively from these events.
