Beyond Sustainability: Operational Resiliency

BeyondSustainability:OperationalResiliency

BySusanBarry, October21,2022

HurricaneIanisthe15thbillion-dollardisastertohittheUnitedStatesin2022

Thetotalcostofthe338>$1Bweather/climatedisasterswe’veexperienced since1980is$2.95trillion.Evenmoreconcerning:The1980–2021annual averageis7.7events(CPI-adjusted);theannualaveragefor2017-2021is 17.8events(CPI-adjusted).

Thisdataconfirmsthat$1Bclimatedisastersarenotonlyoccurringmore frequently,buttheyarealsobecomingmorepowerfulanddestructivebecauseof increasingclimatechange.

Economicrecoverycantakeyears

Asofthiswriting,Floridahasbarelystarteditsrecoveryfromthedevastating lossescausedbyHurricaneIan.Althoughfinalnumbersarenotyetin,initial estimatespredict$75-$258billioninpropertydamageandthedecimationof oneofthestate’sprimetouristareasandrealestatemarkets.

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Beyond Sustainability: Operational Resiliency

Published on Oct 20, 2022

Flagship Facility Services

Hurricane Ian, which recently hit the United States, is the 15th billion-dollar disaster to occur in the country this year. The frequency of such disasters has increased in recent years, with the average annual number of billion-dollar disasters in the US from 2017 to 2021 being 17.8, compared to an average of 7.7 from 1980 to 2021. The total cost of these disasters since 1980 is estimated to be $2.95 trillion. The damage caused by Hurricane Ian is expected to cost between $75 and $258 billion, including property damage and lost economic activity due to business interruption. Operational resilience, which involves strengthening facilities to withstand disasters and minimizing disruption, is crucial for business continuity and recovery after a disaster.

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Beyond Sustainability: Operational Resiliency

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