The Affordability of Flood Risk Property ‐Level Adaptation Measures

This article provides a starting point for investigating the potential rate of unaffordability of flood risk property‐level adaptation measures across Europe using two definitions of affordability, which are combined with two d ifferent affordability thresholds from within flood risk research. It uses concepts of investment and payment affordability, with affordability thresholds based on residual income and expenditure definitions of unaffordability. These concepts, in turn, are linked with social justice through fairness concerns, in that, all should have equal capability to act, of which affordability is one avenue. In doing so, it was found that, for a large proportion of Europe, property owners generally cannot afford to make one‐time payment of the cost of protective measures. These can be made affordable wit h installment payment mechanisms or similar mechanisms that spread costs over time. Therefore, the movement toward greater obligations for flood‐prone residents to actively adapt to flooding should be accompanied by socially accessible financing mechanisms.

Source: Risk Analysis - February 27, 2020 Category: International Medicine & Public Health Authors: Paul Hudson Tags: Original Research Article Source Type: research