The implications of climate change for extreme weather events and their socio-economic consequences in Finland

Adriaan Perrels, Noora Veijalainen, Kirsti Jylhä, Juha Aaltonen, Riitta Molarius, Markus Porthin, Jari Silander, Tony Rosqvist and Tarja Tuovinen

No 158, Research Reports from VATT Institute for Economic Research

Abstract: This publication reports on the main findings of the entire TOLERATE project, which was an integrated natural science – social science project for the assessment of climate changed induced changes of extreme weather events and their social-economic consequences at a regional level. It includes regional projections of changes in climate conditions in Finland, with special reference to (short) periods with extremely abundant and extreme scant precipitation respectively. Based on these projections changes in river flood risks are assessed for two water shed areas by means of hydrological models. The resulting flood maps for events with different return times are subsequently evaluated with respect to their direct damage cost and with respect to the overall macroeconomic impacts in the region. With the aid of a group decision support system alternative flood risk mitigation options (investment alternatives) were preliminary explored with the aim to arrive at a ranking of alternatives based on a mix of criteria.

Keywords: Adaptation, climate change, cost-benefit analysis, decision support, flood risk, hazard economics, regional climate scenario, sopeutuminen, ilmastonmuutos, kustannus-hyötyanalyysi, päätöksenteon tuki, tulvariski, katastrofien taloustiede, alueellinen ilmastoskenaario, Environment, Ympäristö, Labor market and policies promoting economic growth, Työmarkkinat ja kasvua tukeva politiikka, D810 - Criteria for Decision-Making under Risk and Uncertainty, H430 - Project Evaluation; Social Discount Rate, O180 - Economic Development: Regional, Urban, and Rural Analyses, Q540 - Climate; Natural Disasters, R110 - Regional Economic Activity: Growth, Development, and Changes, (search for similar items in EconPapers)
Date: 2010
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