EFLIP – Economic impacts of flood risk in Lombardy and innovative risk mitigation policy

Lombardy, Italy’s economic engine, is particularly vulnerable to flood hazard risk, the consequences of which are likely to affect the national growth and stability. EFLIP will contribute to a better appreciation of indirect and induced effects of flood risk on economic growth and social cohesion by analyzing micro- and macro-economic consequences of flood risk in Lombardy.

Duration
24 months from 15/11/2019 to 30/11/2020
Funded by
  • Fondazione Cariplo

Coordinating organization
  • Fondazione CMCC - Centro Euro-Mediterraneo sui Cambiamenti Climatici

CMCC Scientific Leader
CMCC Project manager
Division

General aims

The main objective of the EFLIP project is to better appreciate the financial and economic risks posed by flood hazard in Lombardy (and indirectly in Italy).

CMCC role
CMCC acts as the coordinating entity of the project and lead the statistical analysis of recorded losses, underpinning the improvement of the damage assessment models, and conduct the model-driven assessment of full economic effects of flood risk under current and future climate.

Activities

  • Analyse and fill-in the gaps in the past records of damage and losses caused by flood in Lombardy;
  • Enhance understanding of how flood risk will be amplified as a result of environmental (including climate) change;
  • Analyse the direct and indirect (ripple and spill-over) economic impacts of floods on regional and national economy and cohesion; and
  • Develop and validate innovative financial frameworks and incentives for flood risk protection, and recommend appropriate changes to legal, policy and/or regulatory frameworks.

Expected results

EFLIP research will contribute to ongoing policy analysis and assessments and will produce knowledge vital for designing regional climate adaptation and disaster risk reduction strategies and plans.

Partner

Fondazione CIMA, Italy
Istituto Universitario di Studi Superiori di Pavia (IUSS), Italy

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