Participants will preview a tool to help decisionmakers evaluate flood management investments in response to the impacts of climate change and natural disasters.

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The Understanding Risk forum is an annual convening of experts and practitioners active in the creation, communication, and use of disaster risk information. At this side event, World Resources Institute (WRI), World Bank, Deltares, the VU University Amsterdam-IVM, Utrecht University, and PBL Netherlands Environmental Assessment Agency (PBL), will preview a Cost Benefit Analysis tool for flood protection projects around the world.

This session will officially launch a comprehensive Cost Benefit Analysis tool that calculates and presents investment costs and benefits for flood protection projects. The tool builds on the Aqueduct Global Flood Analyzer developed by WRI in partnership with Deltares, the VU University Amsterdam-IVM, Utrecht University, and PBL, a web-based interactive platform which measures river flood impacts across the globe.

The World Bank and other development partners finance and support a variety of flood management projects around the world to improve the resilience of countries to climate-induced flood hazards in urban settings. The tool will enable a high-level cost-benefit analysis that integrates these flood risk with costs and benefit associated with flood protection systems. It also allows integration of climate change impact in the analysis.

Session participants will be able to explore a range of potential uses and applications. In particular, the session will explore how this tool can be used to help decision-makers quantify and monetize flood damage when evaluating and financing risk mitigation and climate adaptation projects, and to enable prioritizing investments in natural disaster risk reduction strategies accordingly.

Speakers

Yohannes Kesete, Disaster Risk Management Specialist, World Bank

Philip Ward, Associate Professor & Deputy Head Dept. Water and Climate Risk, Vrije Universiteit Amsterdam

Tianyi Luo, Senior Manager, Water Risks & Data Analytics, World Resources Institute

Samantha Kuzma, Research Analyst, Water Risks & Data Analytics, World Resources Institute