Session 4.3: Financial Schemes for Flood Recovery and Their Impact to Flood Resilience
Substantial public and private resources have been devoted to recover from floods (through building and infrastructure reconstructions) pursuing the solidarity principle. However, particular flood recovery schemes have not been used strategically to prevent future damages (that are expected to increase due to climate changes). They have often increased the vulnerability of areas at risk (due to their abrupt redevelopment). Contrarily, efficient flood relief can stimulate adaptation throughout the catchment and support (rather than undermine) other types of flood resilience measures. The proposed special section addresses the effectiveness of the flood recovery and aims to discuss how the implementation of financial instruments (relief subsidies, insurance schemes and voluntary donations) influence future flood damages.
Challenges related to the investigated topic are:
1. How to wisely use recovery schemes to reduce flood risk or/and minimize future flood damages without inducing false incentives (moral hazards)?
2. Are financial subsidies (private and public money) able to increase the implementation of local adaptation strategies?
3. Are financial recovery funding able to encourage individual risk awareness and behavior?
The session is organized as a panel discussion with 3-4 researchers and one moderator. Each researcher will shortly (up to 12 minutes) present the country or/and problem specific theme regarding financial schemes for flood recovery addressing also the key question: How flood recovery schemes (may or may not) increase resilience or change of individual behavior?. Short presentations will be followed by the moderated discussion with the audience and the exchange of experiences among academia (research evidence) and practice (field work). The session is organized under the umbrella of LAND4FLOOD COST Action (land4flood.eu)