Insights into economic impacts from climate change in Venice

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Vernon Jefferson
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1 Insights into economic impacts from climate change in Margaretha Fondazione Eni Enrico Mattei ACT Conference Ancona, December 2010

2 Outline 1 2 3

3 Scales of Different s with different details for each scale: Large scale (PESETAS): interactions between adaptation measures and global change; Adaptation measures designed on Cost-benefit analysis National s (DELTA COMMISSION) Strategy for the national future; considerations on adaptation measures related to human safety Regional (Piana di Fondi, ENEA FEEM); Assessment of economic assets and in the area. Local ()

4 Vulnerable areas in Europe

5 from Pesetas

6 by Delta Commission (NL)

7 Vulnerable areas in Italy

8 Local impact detailed s required Economic damages assessed: Damages from flooding: (residential and commercial uses) Tourism Fisheries Harbor (Vector Cliven) Valuation of climate change impacts on the historic centre of : buildings and economic

9 Local impact detailed s required Economic damages assessed: Damages from flooding: (residential and commercial uses) Tourism Fisheries Harbor (Vector Cliven) Valuation of climate change impacts on the historic centre of : buildings and economic

10 Using present damages caused by high water to assess future costs Assessing increased maintenance costs due to high water Using upper and lower bound values for cost s Creating scenarios: increasing levels of inundation

11 Using present damages caused by high water to assess future costs Assessing increased maintenance costs due to high water Using upper and lower bound values for cost s Creating scenarios: increasing levels of inundation

12 Using present damages caused by high water to assess future costs Assessing increased maintenance costs due to high water Using upper and lower bound values for cost s Creating scenarios: increasing levels of inundation

13 Using present damages caused by high water to assess future costs Assessing increased maintenance costs due to high water Using upper and lower bound values for cost s Creating scenarios: increasing levels of inundation

14 High water in Comune di Venezia, Centre for Tidal Forecast

15 Sources of information Existing database on ground floor units (local authority) Information from experts from constructions sector Historic data on tide frequencies and levels

16 Sources of information Existing database on ground floor units (local authority) Information from experts from constructions sector Historic data on tide frequencies and levels

17 Sources of information Existing database on ground floor units (local authority) Information from experts from constructions sector Historic data on tide frequencies and levels

18 Database Creation of the sample Criteria for selection: surveyed from inside information on base level or level of inundation available Creation of the sample Type of uses DB Sample Percentage Residential ,2% a ,17% a uses comprise resales, production, offices, public services

19 Description of the sample Levels of inundation

20 Assessment Categories considered Fixed costs do not change with inundation frequency (mainly protection measures) Variable costs depend on the frequency of inundation or on the elevation above the tidal gauge (mainly structural building elements)

21 Protection Measures Elements considered among fixed costs raising floor levels barriers impermeabilization pumps horizontal barriers

22 Protection Measures

23 Structural Elements Elements considered among variable costs Doors external doors internal doors Walls Floors (Information on furniture was not available)

24 Method of calculation Identification of damages/increases in maintenance costs for each building element function of protection measures for the mitigation of damages applying specific damage functions to each ground floor unit

25 Method of calculation doors where: CP CPI CPE i j e j p q CP = i (CPI i (e j (p, q)) + CPE i (e j (p, q))) j costs due to deterioration of doors due to high water; costs for internal doors; costs for external doors; identifies the unit of the sample; level of inundation annual number of events at the level of inundation j depending on the type of protection p if existing, and on the quota q of the unit.

26 Definition of Scenarios Medium annual frequencies Scenario BAU +10 cm tide level defence defence cm 0,02 0,00 0,02 0, cm 0,02 0,00 0,02 0, cm 0,02 0,00 0,02 0, cm 0,02 0,00 0,05 0, cm 0,05 0,00 0,07 0, cm 0,07 0,00 0,19 0, cm 0,19 0,00 0,60 0, cm 0,60 0,00 1,50 0, cm 1,50 0,00 3,52 0, cm 3,52 0,00 8,83 0, cm 8,83 8,83 21,24 21, cm 21,24 21,24 53,50 53, cm 53,50 53,50 129,05 129, cm 129,05 129,05 255,38 255,38

27 Damages to commercial Sources of information Interviews to a representative sample of approx. 900 operators Reference: exceptional high water 16/11/2002 (147 cm above tide gauge) scenario of one week of medium-high tides ( cm)

28 Damages denounced by shop owners Economic denounce damages from structural damages to furniture, floors, walls (75%) lack of takings (85%) cleaning up and securing merchandises (91%) psychological stress (87%)

29 Spontaneous Adaptation: Protection costs Fixed costs (actual costs, no scenario for change) e(2008) commercial units residential units all medium costs compl. costs

30 Maintenance costs Annual costs from structural damages (e 2008) estimation low high low high scenario no defence defence BAU SLR variation (e 2008) variation (%) 57,39% 45,38% 52,64% 24,85%

31 Damages to commercial Sources of information Interviews to a representative sample of approx. 900 operators. Reference: exceptional high water 16/11/2002 (147 cm above tide gauge) scenario of one week of medium-high tides ( cm)

32 Damages denounced by shop owners Economic denounce damages from structural damages to furniture, floors, walls (75%) lack of takings (85%) cleaning up and securing merchandises (91%) psychological stress (87%)

33 Types from a single event Percentages from the high water 16/11/2002

34 Costs from a single event Medium annual frequencies Scenario BAU +10 cm tide level defence defence cm 0,02 0,00 0,02 0, cm 0,02 0,00 0,02 0, cm 0,02 0,00 0,02 0, cm 0,02 0,00 0,05 0, cm 0,05 0,00 0,07 0, cm 0,07 0,00 0,19 0,00 e cm 0,19 0,00 0,60 0, cm 0,60 0,00 1,50 0, cm 1,50 0,00 3,52 0, cm 3,52 0,00 8,83 0, cm 8,83 8,83 21,24 21, cm 21,24 21,24 53,50 53, cm 53,50 53,50 129,05 129, cm 129,05 129,05 255,38 255,38

35 Types from a week of medium high tides

36 Costs from a week of medium high tides Medium annual frequencies Scenario BAU +10 cm tide level defence defence cm 0,02 0,00 0,02 0, cm 0,02 0,00 0,02 0, cm 0,02 0,00 0,02 0, cm 0,02 0,00 0,05 0, cm 0,05 0,00 0,07 0, cm 0,07 0,00 0,19 0, cm 0,19 0,00 0,60 0, cm 0,60 0,00 1,50 0, cm 1,50 0,00 3,52 0,00 e cm 3,52 0,00 8,83 0, cm 8,83 8,83 21,24 21, cm 21,24 21,24 53,50 53, cm 53,50 53,50 129,05 129, cm 129,05 129,05 255,38 255,38

37 Conclusions on and ctivities Additional annual costs of +10 cm SLR ( Millions e) Under current protection measures With full protection up to 110 cm Structural damages Activities (1 week) Activities (1 event) Total Cost of additional 5 events of cm (yearly average): 6.6 million e Cost of a single event of cm (16 IX 2002): 11.8 million e With increase of frequency of events of this importance: annual costs from 2.25 to 7.1 million e

38 Thank you!

Flood Damage Mitigation And Insurance Costs

Flood Damage Mitigation And Insurance Costs Friday, September 25, 2015 at 7:00 PM Saturday, September 26, 2015 at 10:00 AM This presentation was prepared by the Town of South Bethany using Federal Funds