Flooding: Toward a Municipal Contribution to Economic Risk Sharing

Local communities feel the brunt of extreme weather events such as floods as part of the ongoing impacts of climate change. Yet existing cost-sharing mechanisms do not encourage municipalities or disaster victims to reduce flooding risk. The report, Flooding: Toward a Municipal Contribution to Economic Risk Sharing, asserts that municipalities need to be included in cost sharing for flood damage and proposes an economic contribution mechanism that distributes the cost of damage to residential buildings more equitably.

One of the authors of the report, Bernard Deschamps, sat down with IMFG Manager Sonali Chakraborti to discuss why it is important that municipalities implement a cost-sharing mechanism to reduce flooding risks.