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NOAA Reports on the Economic Impacts of Weather and Climate Related Disasters: Recommendations for Future Actions (Task 5)
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2013
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By NOS (National Ocean Service) ...
[PDF-1.35 MB]
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Description:In support of its mission, the National Oceanic and Atmospheric Administration (NOAA) provides several economic impact estimates on losses suffered during weather- and climate-related disasters. . This report is part of a larger project, whose goal is to ensure that the estimates of economic loss produced by NOAA, and by the National Climatic Data Center (NCDC) in particular, employ the most up-to-date and valid approaches used in industry, academia, and government, as well as ensuring that all estimates are consistent throughout time and in different regions of the US. Improving estimates of the economic impacts of weather events are particularly important given that they are fundamental for effective policy decisions on mitigating future impacts of disasters, including decisions made during recovery from events and future infrastructure investments. This report supports this goal by identifying alternative data sources and methods that will increase the consistency and accuracy of estimates developed by NOAA. The recommendations in this report are based on an in-depth analysis of the internal consistency of the NOAA estimates, gap analysis between NOAA estimates and other industry, and an extensive literature review on disaster loss estimation. The recommendations also address potential new classes of economic impacts not currently considered by NOAA, such as those associated with the loss of ecological function and ecosystem services. This report describes the type and relative magnitude of benefits and costs associated with each recommendation, ranking them based on expected net benefits. Implementing these recommendations will improve the consistency of NOAA’s estimates, while also aligning their methodology with those of peer-reviewed literature, other federal agencies, and leading experts and researchers.
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Rights Information:Public Domain
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