Feasibility study on climate resilience declarations

Purpose and goal:

The purpose of the project is to through the feasibility study investigate how a "climate resilience declaration" can increase incentives for climate adaptation and at the same time create comparability between properties, increase security for property owners, mortgage players and insurance companies, reduce uncertainty about insurance coverage and understand reasonable responsibilities and effects. The project aims to evaluate possibilities for developing a climate resilience declaration, as well as possible effects on different actors if implementing.

Expected results and effects:

The expected impact is a better understanding of climate resilience declarations, what risks should be included, useful material for valuation and necessary prerequisites for this, possible valuation systems or indices for risk and action effects and effects on actors in the market. The result is expected to be a mapping of data, a prototype of a climate resilience declaration and an evaluation of results and impact effects from different perspectives, as well as recommendations for continued work.

Approach and implementation:

The project starts in November 2021 and lasts for one year. The prototype will focus on flood risk as an example of how risks can be assessed and as a starting point for formulating necessary developments to enable large-scale implementation. Risks, effects and responsibilities are discussed with a broad consortium to identify how implementation could be carried out, what development is needed and how it would affect various stakeholders.