Costs of natural hazards are at historically high levels, and show an increasing trend.
Cost assessments of natural hazards often only cover direct costs and even these are assumed to be at least 50% higher than international assessments report. However, besides direct damage, also indirect damage is relevant.
For example, the Thailand flood in 2011 shut down scores of factories and damaged global car manufacturing and electronics industries. But, an improved precaution requires better understanding of the total costs, which comprise besides damage also risk mitigation costs.
Only like that an efficient risk management of natural hazards can be achieved.
An international group of scientists led by Heidi Kreibich (German Research Centre for Geosciences GFZ) has now for the first time suggested an integrated cost assessment in risk management. In the current issue of "nature climate change" the group drafts the new cost assessment cycle.
"Cost-benefit analyses that exclude certain cost categories lead to sub-optimal decisions," Heidi Kreibich explains the approach, "The cost assessment cycle involves the continuous monitoring of costs associated with natural hazards risk management, thus enabling the early detection of inefficient risk mitigation strategies."
A close link between the cost assessment cycle and the risk management cycle lead to an improved assessment of the real costs and as such to a stable basis for an improved decision making in risk management.
The possibility to make better, more efficient decisions for natural hazard risk management will gain even more importance in view of global environmental change.
Pictures in a printable resolution may be found here: http://www.gfz-potsdam.de/en/media-communication/image-galleries/flood-research/
H. Kreibich et al. „Costing natural hazards", Nature Climate Change, Vol.4, 25.04.2014, pp. 303, doi:10.1038/nclimate2182
F.Ossing | Eurek Alert!
World's first solar fuels reactor for night passes test
21.02.2018 | SolarPACES
Geophysicists and atmospheric scientists partner to track typhoons' seismic footprints
16.02.2018 | Princeton University
Quantum computers may one day solve algorithmic problems which even the biggest supercomputers today can’t manage. But how do you test a quantum computer to...
For the first time, a team of researchers at the Max-Planck Institute (MPI) for Polymer Research in Mainz, Germany, has succeeded in making an integrated circuit (IC) from just a monolayer of a semiconducting polymer via a bottom-up, self-assembly approach.
In the self-assembly process, the semiconducting polymer arranges itself into an ordered monolayer in a transistor. The transistors are binary switches used...
Breakthrough provides a new concept of the design of molecular motors, sensors and electricity generators at nanoscale
Researchers from the Institute of Organic Chemistry and Biochemistry of the CAS (IOCB Prague), Institute of Physics of the CAS (IP CAS) and Palacký University...
For photographers and scientists, lenses are lifesavers. They reflect and refract light, making possible the imaging systems that drive discovery through the microscope and preserve history through cameras.
But today's glass-based lenses are bulky and resist miniaturization. Next-generation technologies, such as ultrathin cameras or tiny microscopes, require...
Scientists from the University of Zurich have succeeded for the first time in tracking individual stem cells and their neuronal progeny over months within the intact adult brain. This study sheds light on how new neurons are produced throughout life.
The generation of new nerve cells was once thought to taper off at the end of embryonic development. However, recent research has shown that the adult brain...
15.02.2018 | Event News
13.02.2018 | Event News
12.02.2018 | Event News
22.02.2018 | Business and Finance
22.02.2018 | Health and Medicine
22.02.2018 | Life Sciences