The XXI World Congress on Safety and Health at Work in Singapore has this weekend released new global estimates on the cost of failing to adequately address existing and emerging occupational health and safety concerns.
The figures present a dire picture:
“The global economic impact of the failure to adequately invest in occupational safety and health is roughly equal to the total GDP of the poorest 130 countries in the world,” stated International Labour Organization Director-General, Guy Ryder.
This equates to 3.94 per cent of global GDP per year or 2.99 trillion US Dollars, or the death of 2.78 million workers each year from work-related injuries and illnesses – 2.4 million of which relate to work-related diseases.
The Congress is specifically focusing on the future of work to support the ILO’s recently launched Global Commission on the topic.
There is a growing body of evidence that the world of work is undergoing significant changes that can expose your business to new unanticipated risks.
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