There is an increasing need for strategic global assessments of flood risks in current and future scenarios. The GLOFRIS and Flopros models are aimed to give insight in direct flood damage as result of riverine and coastal floods. The models show the current state of flood risk and uses socioeconomic and climate scenarios for future projections of flood damage. This tool can be used to guide investments in flood adaptation by showing the economic benefits of several adaptation options, such as flood protection or risk-reducing strategies on the building level. Regional policy makers can use this tool to find out which adaptation policy should be prioritized and yields the largest benefits in terms of avoided direct flood damage. Another group that benefits from this tool are real estate investors, where the tool helps determining locations prone to flood risk, which helps guiding sustainable real estate investments.
The Amsterdam city hub (APG) will use the GLOFRIS tool in the future. The goal is to add a new financial investment module to the GLOFRIS tool, which incorporates both short- and long-term risks for real estate investments.
The tool can be used in the following Triple-A phases:
Allows for identification of areas with higher flood risk where action is required.
Allows for the assessment of the impact of several adaptation strategies, assisting the decision-making process.
Overall level of complexity: Level 1 (Ready-to-use light approach)