Considerable work has been done to understand and improve the resilience of individual infrastructure components. However, systems of components, or even systems of systems, are far less well understood. Cascade effects, where the loss of one infrastructure affects others, is a major source of vulnerability which can lead to catastrophic disruptions of essential services. Interdependencies can also lead to large-scale failures when even a single component is disrupted and results in ‘cascading’ failures within and between networks. This is particularly true for power systems, as many other lifeline infrastructure systems rely on electricity. In this study we review the literature and give a primer on the vulnerabilities of networked energy infrastructure.
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On 18-19 February 2019, EPFL organised a workshop of the SmartResilience project, hosted by the Swiss Re Institute in Zurich. The workshop gathered representatives from insurance and insurance experts. After providing some general considerations about insurance, resilience and critical infrastructure (CI) to describe the context in which the methodologies developed by the SmartResilience project can be used in an insurance setting, this report provides an analysis of the contribution of SmartResilience to insurance. The analysis elaborates from research made prior to the workshop, presentations made by partners of SmartResilience, and discussion among participants.
This report presents the results of a study that compares country practices in the management of the financial implications of disasters on government finances for a set of OECD member and partner countries particularly exposed to natural hazards
[ Report ]
It was interesting to read this report and consider how the SDGs might change insurance of critical infrastructure. It sets out a global action framework for the insurance industry to help make cities inclusive, safe, resilient and sustainable in line with UN Sustainable Development Goal 11
David Singleton, Chairman of the Infrastructure Sustainability Council of Australia (ISCA) considers how the launch of v2.0 of its Rating Scheme will provide input into how we should best plan, design and operate infrastructure, and look beyond purely the economic value of projects.
[ Journal Article ]
To implement sustainable investment decisions it is essential that the world can deliver social and natural benefits alongside economic and financial value. This Arup paper challenges conventional thinking and shows that through a Total Value approach we can close the value gap and drive change at scale.
[ Paper ]
The City Finance Lab (CFL) is Europe’s first dedicated platform supporting the development of innovative financial solutions that increase investment in resilient, low-carbon and sustainable urban projects. It aims to unlock at least EUR 500 million in additional investment for climate action over the next 5 years.
This paper by RE.bound Program, and re:focus partners llc, offers a path forward for governments at all levels – cities, states, federal agencies, and international aid programs – to align public-sector disaster risk reduction measures with private insurance using Resilience Bonds.
This article underlines how it is worthwhile and economically efficient to invest more money in prevention. A new study from Zurich Insurance Group reviews 12 of Zurich’s global Post-Event Review Capability (PERC) reports and highlights lessons learned.
[ Article ]
This Climate Lens is a requirement of the Investing in Canada bilateral agreements signed between Infrastructure Canada and the provinces and territories. The assessment tool will require stakeholders to report on how proposed projects contributes to or reduce carbon pollution, and to consider climate change risks in the location, design, and planned operation of projects.