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.
Bibliographical noteFunding Information:
Acknowledgments: This study was supported by the BK 21 Plus Project in 2016 (Seoul National University Interdisciplinary Program in Landscape Architecture, Global Leadership Program toward innovative green infrastructure), the Korea Environment Industry & Technology Institute (KEITI) through “The Chemical Accident Prevention Technology Development Project” Project, funded by Korea Ministry of Environment (MOE) (No. 2016001970001) and Supported by a Korea University Grant.
© 2017 by the authors.
- Climate change
- Industrial parks
- Risk assessment
- SMEs (small and medium-sized enterprises)
ASJC Scopus subject areas
- Geography, Planning and Development
- Renewable Energy, Sustainability and the Environment
- Environmental Science (miscellaneous)
- Energy Engineering and Power Technology
- Management, Monitoring, Policy and Law