Climate change will have an adverse impact on many economic sectors (such as energy, food, construction, tourism, insurance). In the banking sector, it is acknowledged that risks faced by clients also create risks for banks. Risk management activities should therefore aim at the management of risk for the benefit of the clients, the financial institutions and the business community alike. Climabiz was an innovative LIFE project aimed to quantify risks and opportunities for Greek enterprises deriving from climate change.
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Malmö is experiencing negative effects from climate change due to rising temperatures and excessive rainfall. The city therefore aims to realise climate adaptation measures by integrating it directly in the design of urban development projects, such as in the case of the Western Harbour. The private funding to realise these measures is provided by developers, who realise the actual construction of the projects.
From 1999 to 2011, the municipality of Timmendorfer Strand in Germany developed and implemented a coastal flood defence strategy using a participatory process. In 1999, a first discussion about an integrated coastal flood defence concept for the community of Timmendorfer Strand started. It was agreed that the concept should be accepted by a large number of stakeholders.
In 2002, Prague experienced severe flooding with total damage of 24 billion CZK (1 billion euro). This event was recognized as one of the most expensive weather-related disaster in the history of the city with heavy damages on infrastructure, housing and environment. Future climate scenarios predict a change in the number and intensity of extreme events, inter alia, increasing the risk of river flooding. Since the 2002 event, the implementation of flood control measures by Prague municipality substantially speeded up.
The area of the Eferdinger Becken, Upper Austria, is a small area that lies on the Danube. It has no protection against floods with a 100-year return time: the flood-prone area includes about 154 houses that flood regularly. Due to the importance of the retention space for the discharge and the difficult technical feasibility, passive flood protection was considered as more suitable. Homeowners needed to decide on relocation by the end of 2015. The federal and the regional governments compensate citizens 80% of the value of the house if they agree to move.
The Forested Infiltration Area (FIA) is proving to be an effective tool in Northern Italy helping to address water scarcity challenges and/or to achieve environmental benefits over the long term. FIA is a method to recharge groundwater aquifers by channelling surface waters during times of excess into designated areas that have been planted with various species of trees and/or shrubs.
Isola Vicentina (Italy) signed the EU’s Mayors Adapt initiative (current Covenant of Mayors for Climate and Energy) in 2014 and since then started the elaboration process of its Municipal Water Management Plan (MWMP) in order to integrate climate change adaptation into its water management policies. For this purpose, Isola Vicentina Mayor engaged the “Planning Climate Change” research group at the IUAV University of Venice and Green-Dev studio, a local consultancy firm.
The railway transportation system of the Alpine country Austria plays an important role in the European transit of passengers and freights. Moreover, the Austrian railway network is essential for the accessibility of lateral alpine valleys and is thus of crucial importance for their economic and societal welfare. If traffic networks are (temporarily) disrupted, alternative options for transportation are rarely available.
Hydropower is an essential part of the energy mix in France, accounting for around 20% of installed capacity. Climate change is projected to increase the frequency and intensity of extreme precipitation events and to accelerate snowmelt, which would result in increased flood risk. Flooding can adversely affect dams causing overtopping, outages, damage to equipment and adverse downstream impacts. It is essential that dam operators take these risks into consideration and implement adaptation measures as needed.
Evidence that increasing temperatures leads to increased mortality and morbidity is well documented, with population vulnerability being location specific. Especially the 2003 heat wave in Europe raised the awareness of negative impacts of heat stress on human health in Austria. Increased incidence of heat waves leads to an increase in heat stress, especially in urban areas; the intensification of the heat-island effect is to be expected.