Liverpool
Liverpool

Erwin van der Krabben explores the willingness to pay for climate adaptation

Local governments are required to facilitate additional investments in climate-proof public infrastructure strategies, such as permeable pavements, separation of storm water and sewage, strategic application of greenspace and trees, water storage and retention, improved draining and grading plans, and even major infrastructure like sea walls. In times of fiscal stress, however, any new infrastructural investment poses a substantial financial challenge for municipalities. Erwin van der Krabben, Professor of Planning, together with Alex Lord and James H. Spencer, therefore explored the willingness of private real estate developers to contribute to urban climate adaptation in vulnerable coastal areas: Charleston, Liverpool and Rotterdam.

The study showed that private developers are receptive to taking action but also express their concerns. They doubt the need for climate adaptation because of unclear policies, lack of evidence for property value increase and a preference for mitigation over adaptation. 

Van der Krabben, Lord and Spencer therefore suggest that local governments develop a clear climate strategy and make developer contributions 'predictable'. They also recommend providing evidence of successful climate adaptation measures and their impact on both climate risk reduction and property values.

Interested in the study? Click here.