Project information
Project Title
Quantifying the Impact of Mitigation Investments to Reduce Risks from Natural Hazards in British Columbia: A Literature Review and Policy Recommendations
Purpose
The purpose of the Research Project is to assess and synthesize existing methodologies for evaluating the economic, social, and environmental benefits of mitigation investments aimed at reducing the effects of natural hazards in B.C. The research focuses on identifying and critically evaluating different frameworks for quantifying these benefits, particularly in multihazard contexts. The goal is to provide practical recommendations for government agencies to improve evidence-based decision-making, enhance disaster risk reduction efforts, and optimize the allocation of public funds for mitigation strategies.
Project Description
This Research Project is a comprehensive research study aimed at evaluating the effectiveness of various methodologies used to assess the benefits of mitigation investments for natural hazard risks. It focuses on understanding and comparing approaches such as cost-benefit analysis, probabilistic risk assessment, and resilience metrics, among others, across different types of natural disasters, particularly flood and earthquake along with their associated hazards (e.g. erosion, landslide, tsunami). The Research Project’s key objective is to identify and critically evaluate frameworks that can be applied across multiple hazards, with a particular emphasis on capturing indirect benefits such as community resilience, and long-term economic and environmental stability. The research will culminate in practical recommendations for government agencies, offering guidelines on best practices for assessing mitigation investments in a way that maximizes societal benefits. The Research Project seeks to bridge the gap between academic research and policy implementation, contributing to more efficient and sustainable disaster risk reduction strategies.
Expected Outcomes of the Project
Through the completion of the Research Project, the Province wishes to achieve the following outcomes:
- A set of practical, evidence-based recommendations for government agencies on evaluating mitigation investments.
- Identification of robust, cross-hazard methodologies that capture both direct and indirect benefits of mitigation projects, such as community resilience, and long-term economic and environmental stability, within the BC context.
- Critical assessment of existing frameworks to highlight their strengths and limitations.
- Guidance on best practices for improving decision-making in multi-hazard contexts.
- Enhanced efficiency in public resource allocation for disaster mitigation.
- Contribution to more effective disaster risk reduction efforts.