WET News

TECHKNOW • Consideration should be given to affordability, regional and sectoral impacts • A fair and transparent means of making investment decisions is needed • A reputable and competent party could ensure that investment funds are collected, allocated and distributed in an appropriate way NEED TO KNOW 1 This winter's floods are expected to cost more than £5bn 2 Last year, maintenance accounted for a further £171M 3 The Flood Re scheme aims to ensure that affordable flood insurance remains widely available THE VERDICT "With these principles, the existing system for funding flood risk management can be improved. Change won't happen overnight, but these nine elements would help us evolve the system" Dr Bruce Horton MAY 2016 WET NEWS 15 considered, identified and assessed. Various frameworks have the potential for this, including ecosystem services approach and natural capital accounting 4. Consideration should be given to affordability, regional and sectoral impacts as well as economic efficiency. A distributional analysis can identify those who stand to gain or lose, and help ensure that appropriate compensatory or other measures are considered 5. The 'polluter pays principle', already embedded in implementation of the EU Water Framework Directive, could be applied to flood risk. Wherever possible, this would require those who contribute to increased flood risk to compensate those affected (or contribute an amount equivalent to the increase in risk towards a flood risk scheme) 6. Where additional funds are required to deliver a scheme, the 'beneficiary pays principle' would, again wherever possible, require those directly benefitting from flood risk reduction or from other impacts of the scheme to make up the balance 7. A reputable and competent party could ensure that investment funds are collected, allocated and distributed in an appropriate way. There are well-known problems with the current system (Helm, 2016), particularly with regard to reliability and predictability of funding. Whilst any alternative will come with its own set of issues, local authorities or wastewater service providers may be the best candidates for a greater role in this area 8. Existing subsidies for land use, in particular for agricultural production, should reflect contribution to, and reduction of, flood risk. This applies particularly to upper catchments, where any potential costs (e.g. in terms of foregone food production) would be relatively low, but where the benefits, in terms of reducing flood risk or providing natural capital for recreation, leisure and biodiversity, are likely to be highest 9. Insurance policies should reflect the true cost of providing cover to new properties and buildings in areas of risk, and incentivise property level flood risk protection measures in existing properties With these principles, the existing system for funding flood risk management can be improved. Change won't happen overnight, but these nine elements would help us evolve the system. And evolution is exactly what is needed if we are to ensure that flood risk management supports more sustainable outcomes to the benefit of us all. n Dr Bruce Horton is principle sustainability consultant at MWH. * https://home.kpmg.com/uk/ e n / h o m e / m e d i a / p r e s s - releases/2015/12/flooding-eco- nomic-impact-will-breach-5bn. html ** Whilst elements of some of the benefits of flood risk reduction are public (e.g. avoided environmental damage), many others are private. *** See for example BeST (Benefits of SuDS Tool), http:// w w w.susdrain.org/resources/ best.html References Defra (2011) Understanding the risks, empowering communi- ties, building resilience: The national flood and coastal ero- sion risk management strategy for England. Presented to Parlia- ment pursuant to Section 7 of the Flood and Water Manage- ment Act 2010 Defra (2015) Central Government Funding for Flood and Coastal Erosion Risk Management in England, Department for Environment, Food and Rural Affairs, December 2015 Helm, D. (2016) Flood defence: time for a radical rethink HIGH PERFORMANCE PUMPING - FOR HIGHLY DEMANDING JOBS • High Head and High Volume Pumps • 24/7, 365 days a year from nationwide depots • Heavy duty build At Sykes Pumps we possess the broadest range of equipment available, from general purpose pumps to silenced, submersible and high performance units, ensuring that whatever your pump hire need we have a model that can help you. For those really challenging applications our range of High Performance Pumps are the the best available and can be used in environments such as mines & quarries, the marine industry, power generation, civil engineering projects and, of course, the water and wastewater industry. 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