Climate Change and Flood Protection in Germany: Business Opportunities

Over the last decade, the worldwide effects of climate change have become increasingly more evident. The average global temperature currently stands at 0.8 degrees Celsius above the preindustrial average and continues to rise. According to a recent publication from the National Academy of Sciences of the United States of America, each degree of global warming is likely to raise sea level by more than two meters in the future. Already today, the world is beginning to experience an entirely new breed of extreme weather events. Along with this change, comes a polarization of precipitation patterns capable of causing extended periods both of flooding and drought. In fact, Germany has already begun to feel the influence of such floods, the last one was in the spring of 2013. With the increasing threat of natural disasters, the private and public sector are facing the challenge of developing sustainable, resilient solutions to ensure the protection of the affected areas. In this respect, a double strategy is encountered. One is continuing to consider how climate change can be stopped, however one must also learn to adapt to consequences of climate change, which already exist today. According to the European Commission the minimum cost of not adapting to climate change is estimated to range from € 100 billion a year in 2020 to € 250 billion in 2050 for the EU as a whole (compare also EEA report No 12/2012). In April 2013 the European Commission adopted an EU strategy on adaptation to climate change which has been welcomed by the EU Member States. “Adaptation means anticipating the adverse effects of climate change and taking appropriate action to prevent or minimize the damage they can cause, or taking advantage of opportunities that may arise. The strategy aims to make Europe more climate-resilient.” Through research and the European climate adaptation platform (Climate-ADAPT), the EU is also addressing knowledge gaps.