03/03/2014 – Environmental policy can spur economic growth by boosting flood protection, shows a study published by the European Commission today.
The approximate cost of damage from flooding in the European Union was at least EUR 150 billion over 2002-2013, the study shows. Investing in measures to reduce flooding is highly effective, on average costing some 6-8 times less than the damage caused by flooding.
Prevention and preparedness are part of the EU legislation in civil protection because they reduce the risks for loss of life and property – and make economic sense.
Floods and other extreme weather events are becoming more frequent and more destructive: in 2014, they were ranked among the top ten highest global risks by the World Economic Forum .