New Water Policy and Practice Volume 1, Number 2 - Spring 2015 | Page 67

Integrated Flood Risk Management, Lessons from the Rhine and Danube for South Asia many industrial sectors, including the food, pharmaceutical, and textile manufacturers, rely on large volumes of water for production of food, medicines and clothing, and therefore are exposed to the risk of floods which damage critical infrastructure and contain excessive amounts of chemicals and sediments making water unsuitable for industrial use. As such, floods have the ability to impact revenue generation of businesses. At the aggregate level, floods can impact exports of goods and services, which in turn affect overall employment and income levels. Meanwhile, water is essential in the production of energy and floods can damage energy infrastructure further reducing economic output. Therefore, the implementation of integrated flood risk management models that incorporate both structural and non-structural means enhances the resilience of economies in the region to flood risks. However, it is very costly, financially to implement integrated flood risk management plans as it involves mapping and analysing of areas at risk of flooding, high-maintenance costs of developing structural measures such as dikes, high costs of restoring waterways, and floodplains to their natural states and compensation costs of relocating people away from areas of high flood risks. With the region developing, the national governments are likely to continue to seek support in implementing these projects. Conclusions T he South Asia region is one of the most vulnerable regions to climate change flood events. According to the Asia Development Bank, India along with Bangladesh, Nepal, Sri Lanka, Bhutan, and the Maldives would lose almost 10% of its gross domestic product by 2100 if no action is taken on climate change. This could endanger stability and security in the region, potentially having a direct impact on European interests as well as international peace and security. To reduce the vulnerability of people, infrastructure and economies in the region from flooding risks European best practices in integrated flood risk management can be implemented. From the two case studies of the Rhine and Danube, there is a need to simultaneously reduce flooding risks to life and economic assets while restoring natural ecosystems. In addition, solidarity is required in managing transboundary flood risks as negative actions from one region can adversely impact another region which in turn impacts regional stability. Bibliography ADB. 2014. “Assessing the Costs of Climate Change and Adaptation in South Asia.” http://www.adb.org/publications/assessing-costs-climate-change-and-adaptationsouth-asia ASEM. 2014. “3rd ASEM Sustainable Development Dialogue: Water Management— Fostering Prosperity and Stability Through Interregional Cooperation.” http://www. 66