Conference Agenda

Disasters caused by natural hazards, such as earthquakes or hurricanes, have many adverse consequences associated with the physical damage they cause. Here, we show that the very name given to a disaster can also lead to adverse consequences. We argue that the name used for a disaster is significant and is distinct from the physical event itself. Specifically, we show that the toponyms (place names) used to refer to disaster events by the media and the authorities have consequences if these toponyms do not accurately align with the disaster-affected region. Examples of inaccurate disaster toponyms abound, but the costs of these inaccurate toponyms have yet to be recognized. When a disaster damages area A and not area B, but the toponym adopted for that disaster encompasses both A and B, we show that B experiences a decline in tourism that is unrelated to the hazard event that hit only area A. We also show that once B’s name has been tarnished, it becomes difficult to clear its name. Our examples are three recent Italian earthquakes for which we quantify the impact on tourism of the earthquakes themselves and of the toponyms they were given. Once an area is defined as affected, even when it was not, this designation leads to a statistically significant and economically material decline in tourism – in our examples, this amounts to an unnecessary 10-15 percent declines in tourist arrivals that endures for several years following the event. We finish by making some observations about how disasters should be named.

Climatic shocks increasingly influence individuals' critical decisions. We utilise longitudinal administrative data on Australian individual retirement contributions to present the first estimated effects of natural disasters on retirement savings. Using the 2010-2011 Queensland floods as a natural experiment, we document that retirement contributions increase following the disaster. We show that updating risk perceptions is an important mechanism that contributes to this outcome and that critical differences exist in retirement savings behavior across different age groups. We offer important insights into the relationship between individuals' planning horizons, retirement savings and adaptive strategies in maintaining retirement welfare amidst demographic and environmental risks.

Payments for ecosystem services (PES) programs can enhance resilience to extreme weather events by establishing natural infrastructure. I investigate the effectiveness of the Conservation Reserve Enhancement Program (CREP) in the United States in mitigating flooded crop losses through the restoration of riparian buffers and wetlands. By leveraging variation in the timing of the program’s introduction across counties, I find that CREP reduced the number of flooded crop acres by 39 percent and the extent of damage on those acres by 26 percent during the initial 11 years of program implementation. The flood mitigation benefits of CREP also generated financial spillover effects on the federal crop insurance program, saving $94 million in indemnity payouts that would have otherwise been paid to insured farmers. Two-thirds of these benefits resulted from reduced flood damage on cropland in production, while the remaining benefits were attributed to the removal of at-risk cropland from production. The magnitude of benefits varied spatially and temporally depending on the duration of program availability, the extent of program participation, and the adoption of alternative risk management strategies. Overall, these findings underscore the critical role of PES programs in facilitating nature-based solutions for climate change adaptation.

Urban flooding poses a significant climate change risk to cities, threatening both ecosystem health and human well-being. Stormwater management (SWM) has emerged as a key strategy to reduce urban vulnerability to flood risk. While research has primarily focused on the environmental benefits of public green infrastructure for SWM solutions, less is known about citizens' preferences for implementing SWM on their own properties, considering both green and grey solutions. Using a discrete choice experiment (DCE) with over 2000 residents in Finland and Norway, the research explores factors influencing private investment in SWM. The results indicate that residents prioritise SWM measures that reduce property damage and water runoff while decreasing water pollution. Surprisingly, citizens’ interest in SWM measures that improve the aesthetics of their property and community was relatively lower. Additionally, citizens are averse to SWM requiring frequent maintenance. However, there is a significant diversity in preferences, as the relative importance of factors varies widely among respondents, especially for maintenance frequency and aesthetics improvement. These findings provide insights for policymakers on how to incentivise private investment in SWM and better align infrastructure strategies with residents’ practical concerns about reducing flooding risk.

How can widespread consensus on the threats of climate change be achieved in the general public? This study investigates the effects of the 2020 hurricane season in the United States on self-reported climate change attitudes and behaviors. Using high-quality survey data, hurricane activity is related to respondents’ perceptions of climate change. It is observed that during periods of hurricane exposure, people worry more about climate change. The effect intensifies with magnitude of the tropical storm and length of the entire hurricane season. In addition, an ideology interaction is observed, showing a stronger effect of hurricane exposure for Conservatives than for Liberals. These findings confirm previous results on the positive impact of hurricanes on belief in and worry about climate change while extending it to conservative parts of the population for which such a reaction is rather unconventional. The positive impact on generally climate change skeptical individuals may usefully inform strategies to increase widespread support and consensus for climate change action.