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 and Seong Woo Jeon
Additional contact information
Jieun Ryu: Ojeong Eco-Resilience Institute Environmental GIS/RS Center, Korea University, Seoul 02841, Korea
Eun Joo Yoon: Interdisciplinary Program in Landscape Architecture, Seoul National University, Seoul 08826, Korea
Chan Park: Department of Landscape Architecture, University of Seoul, Seoul 02504, Korea
Dong Kun Lee: Department of Landscape Architecture and Rural System Engineering, Seoul National University, Seoul 08826, Korea
Seong Woo Jeon: Department of Environmental Science and Ecological Engineering, Korea University, Seoul 02841, Korea

Sustainability, 2017, vol. 9, issue 11, 1-26

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.

Keywords: risk; risk assessment; floods; industrial parks; climate change; SMEs (small and medium-sized enterprises) (search for similar items in EconPapers)
JEL-codes: O13 Q Q0 Q2 Q3 Q5 Q56 (search for similar items in EconPapers)
Date: 2017
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (3)

Downloads: (external link)
https://www.mdpi.com/2071-1050/9/11/2005/pdf (application/pdf)
https://www.mdpi.com/2071-1050/9/11/2005/ (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:gam:jsusta:v:9:y:2017:i:11:p:2005-:d:117197

Access Statistics for this article

Sustainability is currently edited by Ms. Alexandra Wu

More articles in Sustainability from MDPI
Bibliographic data for series maintained by MDPI Indexing Manager ().