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Flood Economics In partnership with February 13, 2019
Flood Economics
In partnership with
February 13, 2019
planning.org/nationalcenters/hazards/planninginformationexchange/
PIE is the result of an agreement between APA and FEMA, with ASFPM as partner, to produce a series of educational webinars on best practices in hazard mitigation planning.
Webinars revolve around 4 central themes:• Focus on all hazards.• Focus primarily on mitigation planning but
also its connections with recovery planning and preparedness.
• APA and ASFPM act as co-conveners of all planning exchange webinars.
• Planning exchange hosts will select topics and commit to moderate, present, and lead the planning exchange webinars.
Flood Economics
• Attendees must participate in the entire event in order to receive a certificate, CMs or CECs.
• • CFMs are eligible for 1 CEC for participating in this webinar. AICPs are eligible for 1.5 CM.
• • You must have registered individually. • Attending the webinar in a group setting or viewing the
recording does not make you eligible for Certificates, CMs or CECs.
Continuing Education Credits and Certification Maintenance
Flood Economics
Planning Tools • Long-range Community Planning and Goal Setting• Plan Making
• Comprehensive Plan• Hazard Mitigation Plan
• Standards, Policies, Incentives• Development Work • Public Investment
Flood Economics
Hilary SteinerGlobal Director for Public PolicyThe Economist Intelligence Unit
Speakers:
Anil SardaSenior Analyst for Public PolicyThe Economist Intelligence Unit
February 13, 2019
An Economist Intelligence Unit research program and website
Flood Economics: Demonstrating the economic imperative for flood mitigation
Q&A 21
Flood Economics in practice 10
Research methodology 8
Intended use 7
Audience 6
Overview 5
What is Flood Economics? 4
What is The Economist Intelligence Unit? 3
Agenda
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What is The Economist Intelligence Unit?
The Economist Intelligence Unit (EIU) is the research and analysis division of The Economist Group ̶ a sister company to The Economist newspaper.
Created in 1946, the EIU has 70 years' experience in developing timely, reliable, and impartial analysis on economic, policy, and development strategies.
The Public Policy team specializes in evidence-based insights that create impact for leading companies, governments and non-profits.
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Flood Economics is a socio-economic analysis on the value of flood mitigation. The research program started in 2015 and is continually being updated, with support from Resilience Action Partners and FEMA.
What is Flood Economics?
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Changing the conversation about flood mitigation What is the goal of Flood Economics?
Flood Economics brings a well-respected, independent, third-party research institution’s perspective to the flood mitigation discussion to: Assert a strong economic and business
case for mitigation action Highlight the need (and utility) for
investment in mitigation Link mitigation more closely to the
dialogue about resilience
The program ultimately helps bolster the case for taking mitigation action at the community-level.
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Flood Economics has three primary target audiences Who is the target audience?
Community leaders The voice of the community Association presidents Community advocates
Local elected officials The key decision makers Mayors Local council members Planners
Flood mitigation specialists The subject experts and advisors Floodplain managers Hazard mitigation professionals
Homeowners The mitigation influencers
and engaged citizens
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What is the intended use?
Flood Economics is designed to:
Increase decision makers’ awareness of flood risk and its relevance to their communities;
Increase their knowledge of how to mitigate a community’s flood risk; and
Encourage people to share this knowledge with key industry experts and affected stakeholders, creating a ripple effect.
These three uses are all designed to spur flood mitigation action.
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Our research is supported by a rigorous methodology
Comprehensive literature review
RESEARCH DESIGN RESEARCH PROGRAM
Flood Loss Avoidance Studies
Expert working group FEMA Hazard Mitigation grants
database
FEMA and U.S. census data on
communities
Primary interviews with experts and
community leaders
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Our research program is based on socio-economic, demographic and mitigation project data collected at the community and national-level. This data, combined with insights from key stakeholder interviews, form the basis of our analysis.
The core of the research program is case studies and state-level mitigation data
What can I find on Flood Economics? Flood Economics in practice
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Flood Economics has four main sections
Five of the key findings from the
research Stories of homeowners who
have built back stronger from flooding
Profiles of 21 communities across the US that mitigated flood
risk A state-level mitigation data dashboard
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What are our key takeaways?
1. Flood mitigation benefits go beyond dollars and cents
2. Research shows community benefits of flood mitigation
3. Solutions exist to support funding challenges
4. Communities that mitigate may benefit from flood insurance premium discounts of up to 45%
5. The benefits of flood mitigation result from local action
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Empowering homeowners to take mitigation actions themselves How homeowners take action
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A look into the details of how a homeowner reduced their future flood risk How homeowners take action
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Explore how US communities have mitigated their flood risk Community case studies
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What are the costs and benefits of mitigation? Community case studies
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A flood mitigation dashboard designed to inform decision makers State mitigation analysis
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What types of mitigation actions has my state invested in? State mitigation analysis
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Flood Economics is designed to inform and educate a wide audience of decision makers
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How can planners use the Flood Economics tool?
Generate hazard mitigation ideas when updating a comprehensive plan using Community case studies and Flood mitigation resources
Inject fresh ideas from community-level best practices into resilience meetings using Community case studies and State-level data
Learn about how other leaders have taken mitigation actions to improve their community’s resilience using the Community blog and Podcasts
Understand the direct benefits of specific mitigation actions and convey them to key stakeholders using Community case studies and State-level data
Help develop the economic arguments and incentives for investing in flood mitigation in your community using Flood mitigation takeaways and Community case studies
Q&A
© The Economist 2019. These materials and their contents are confidential and the exclusive property of The Economist Newspaper Limited. Their unauthorized reproduction or dissemination to any party other than the original recipient(s) is prohibited. These materials are provided for information only and shall not be construed as an offer or any form of contractual commitment by The Economist Newspaper Limited or any of its subsidiaries or affiliates. The opportunities described herein are subject to change and editorial approval.
Contact
[email protected] (202) 650-6704 EIU Consulting Senior Analyst, Public Policy
Anil Sarda
[email protected] (415) 343-2298 EIU Consulting Global Director, Public Policy
Hilary Steiner
