Commentary: Humanitarian impact bonds would allow businesses to be private saviors for public disasters

In May, Typhoon Mawar, the world’s strongest storm this year, was barreling toward the Philippines, where I live and work. Filipinos immediately began evacuating by the thousands. Mawar then slammed through Guam, carrying winds that gusted to 140 mph and killing most of the island’s power, but swerved away from the Philippines at the last minute. Yet we were soon under threat once again because another typhoon, Guchol, was hurtling toward us.

We know well the enemy we’re facing. The Philippines is No. 1 on the World Risk Index, suffering from