A flood risk assessment model for companies and criteria for governmental decision-making to minimize hazards

Jieun Ryu, Eun Joo Yoon, Chan Park, Dong Kun Lee, Seong Woo Jeon

Research output: Contribution to journalArticle

5 Citations (Scopus)

Abstract

Flood risks in the industrial sector and economic damages are increasing because of climate change. In addition to changes in precipitation patterns due to climate change; factors that increase flood damage include infrastructure deterioration and lack of storage facilities. Therefore; it is necessary for companies and the government to actively establish flood management policies. However; no evaluation method is currently available to determine which items should be invested in first by small and medium-sized enterprises that have limited finances. Because the government should make comprehensive and fair decisions; the purpose of this study is to propose priority investment risk items and an assessment method to decide which companies should be invested in first in flood risk management due to climate change. The multispatial scale of the method takes both the location and characteristics of the company into account. Future climate change scenarios were used to evaluate the changing patterns of flood risks. We developed the relative Flood Risk Assessment for Company (FRAC model) methodology to support the government's policymaking. This method was applied to four companies belonging to four different industries and three risk items were derived that are likely to harm the company owing to flooding.

Original languageEnglish
Article number2005
JournalSustainability (Switzerland)
Volume9
Issue number11
DOIs
Publication statusPublished - 2017 Nov 1

Keywords

  • Climate change
  • Floods
  • Industrial parks
  • Risk
  • Risk assessment
  • SMEs (small and medium-sized enterprises)

ASJC Scopus subject areas

  • Geography, Planning and Development
  • Renewable Energy, Sustainability and the Environment
  • Management, Monitoring, Policy and Law

Fingerprint Dive into the research topics of 'A flood risk assessment model for companies and criteria for governmental decision-making to minimize hazards'. Together they form a unique fingerprint.

  • Cite this