About this Project
Status: Active
Operational Plan: 2019 - 2020
Issue
- Understanding the economic cost of floods and other extreme weather and climate events is central to addressing their impacts, allocating adequate resources for monitoring and preparedness, and building community resilience
- Methods for estimating the cost of flood damage vary significantly across North America
Aim
- The CEC is developing a standardized methodology for assessing the cost of catastrophic floods in Canada, Mexico, and the United States
- This will aid governments and private entities in their assessments of infrastructure and institutional investment priorities to enhance community resilience
- The methodology will then be extended to a multi-hazard assessment covering other extreme events (e.g., hurricanes, tornadoes, forest fires, landslides)
Deliverable
- A common flood-costing methodology for use in planning better community resilience
- Case studies of multi-hazard impacts, using standardized economic measures