Abstract
Effective and efficient reduction of, or adaptation to, natural hazard risks requires a thorough understanding of the costs of natural hazards in order to develop sustainable risk management strategies. The current methods that assess the costs of different natural hazards employ a diversity of terminologies and approaches for different hazards and impacted sectors. This makes it difficult to arrive at robust, comprehensive and comparable cost figures. The CONHAZ (Costs of Natural Hazards) project aimed to compile and synthesise current knowledge on cost assessment methods in order to strengthen the role of cost assessments in the development of integrated natural hazard management and adaptation planning. In order to achieve this, CONHAZ has adopted a comprehensive approach, considering natural hazards ranging from droughts, floods and coastal hazards to Alpine hazards, as well as different impacted sectors and cost types (direct tangible damages, losses due to business interruption, indirect damages, intangible effects, and costs of risk mitigation). This presentation summarises the main results of CONHAZ. These comprise findings regarding best practices, overall knowledge gaps and recommendations for practice and research. The presentation will give an overview on general as well as hazard-specific findings and outline the recommendations that include issues such as comprehensiveness, uncertainties, improvement of data sources, improvement of methods, future dynamics of risk, distribution of risks and risk transfer, knowledge exchange, as well as cost assessment as decision support.
Original language | English |
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Pages | 453-456 |
Number of pages | 4 |
Publication status | Published - 2012 |
Event | 4th International Disaster and Risk Conference: Integrative Risk Management in a Changing World - Pathways to a Resilient Society, IDRC Davos 2012 - Davos, Switzerland Duration: 26 Aug 2012 → 30 Aug 2012 |
Conference
Conference | 4th International Disaster and Risk Conference: Integrative Risk Management in a Changing World - Pathways to a Resilient Society, IDRC Davos 2012 |
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Country/Territory | Switzerland |
City | Davos |
Period | 26/08/12 → 30/08/12 |
Keywords
- Adaptation
- Cost assessment
- Mitigation
- Natural hazards
- Risk management