Corporate Sustainability and Responsibility and Disaster Risk Reduction

Abstract

Numerous risks in global community represent significant risk for the future sustainable development. Serbia is exposed to various risks and international help is sometimes needed. This paper presents limitations of Serbian emergency services, business community, as well as insurance and reinsurance market, in the process of reducing environmental risks in disaster. Serbian environment is vulnerable because of irresponsible behavior of some parts of industry sector. They do not apply the concept of corporate social responsibility in a greater scope. Analysis of the data presented in the paper show that there is a lot of room for improvement despite some positive changes in business community and recent efforts in the process of disaster risk reduction. In Serbia there is obvious need for adaptation of the widest contemporary concept of Corporate Sustainability and Responsibility perspective: CSR 2.0. This concept will contribute to increasing of organizational competitiveness and more adequate response of stakeholders to disaster.