Current Flood Risk Management Isn’t Enough – How Can You Prepare for What’s to Come?
Modern response to flood risk hasn’t been enough to withstand the constant threat they create in nearly every populated area. And with the projected outlook only getting worse, how can organizations hope to manage these risks?
In “Staying Above Water: A Systemic Response to Rising Flood Risk,” researchers built on the World Economic Forum’s latest data to discuss risk drivers, impacts and inadequacies in both high- and low-income countries. Among the ongoing concerns:
- 1 out of 3 people globally will be threatened by flooding in a 1.5 degree C warming scenario, which could happen as early as 2030
- 41% of global power generation capacity will be threatened by flooding in a 2 degree C warming scenario, which could manifest as early as 2050, and
- One third of the world’s urban areas and 45% of the population will be threatened by flooding in a 3.5 degree C warming scenario, which could happen by the end of this century.
Part of the problem identified in the report is the generally reactive and isolated response organizations take to flood risk. But a collaborative, forward thinking and multi-pronged approach could better mitigate the threat by:
- Incorporating climate change considerations, setting resilience targets, and adapting strategies to changing risk levels
- Taking a systems-level approach, leveraging social, economic, and environmental dividends to unlock investment and address interlocking issues, and
- Collaborating with a range of stakeholders including businesses, households, communities, and layers of government.
Click here to read the complete report.