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A benefit–cost analysis of floodplain land acquisition for US flood damage reduction

Author

Listed:
  • Kris A. Johnson

    (The Nature Conservancy)

  • Oliver E. J. Wing

    (University of Bristol
    Engine Shed, Temple Meads)

  • Paul D. Bates

    (University of Bristol
    Engine Shed, Temple Meads)

  • Joseph Fargione

    (The Nature Conservancy)

  • Timm Kroeger

    (The Nature Conservancy)

  • William D. Larson

    (Office of Policy Analysis and Research)

  • Christopher C. Sampson

    (Engine Shed, Temple Meads)

  • Andrew M. Smith

    (Engine Shed, Temple Meads)

Abstract

Flooding is the costliest form of natural disaster and impacts are expected to increase, in part, due to exposure of new development to flooding. However, these costs could be reduced through the acquisition and conservation of natural land in floodplains. Here we quantify the benefits and costs of reducing future flood damages in the United States by avoiding development in floodplains. We find that by 2070, cumulative avoided future flood damages exceed the costs of land acquisition for more than one-third of the unprotected natural lands in the 100-yr floodplain (areas with a 1% chance of flooding annually). Large areas have an even higher benefit–cost ratio: for 54,433 km2 of floodplain, avoided damages exceed land acquisition costs by a factor of at least five to one. Strategic conservation of floodplains would avoid unnecessarily increasing the economic and human costs of flooding while simultaneously providing multiple ecosystem services.

Suggested Citation

  • Kris A. Johnson & Oliver E. J. Wing & Paul D. Bates & Joseph Fargione & Timm Kroeger & William D. Larson & Christopher C. Sampson & Andrew M. Smith, 2020. "A benefit–cost analysis of floodplain land acquisition for US flood damage reduction," Nature Sustainability, Nature, vol. 3(1), pages 56-62, January.
    • Handle: RePEc:nat:natsus:v:3:y:2020:i:1:d:10.1038_s41893-019-0437-5
    DOI: 10.1038/s41893-019-0437-5
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    Cited by:

    1. Ayat Al Assi & Rubayet Bin Mostafiz & Carol J. Friedland & Robert V. Rohli & Arash Taghinezhad & Md Adilur Rahim, 2023. "Cost-effectiveness of federal CDBG-DR Road Home Program mitigation assistance in Jefferson Parish, Louisiana," Natural Hazards: Journal of the International Society for the Prevention and Mitigation of Natural Hazards, Springer;International Society for the Prevention and Mitigation of Natural Hazards, vol. 117(2), pages 1291-1319, June.
    2. Eslam Satarzadeh & Amirpouya Sarraf & Hooman Hajikandi & Mohammad Sadegh Sadeghian, 2022. "Flood hazard mapping in western Iran: assessment of deep learning vis-à-vis machine learning models," Natural Hazards: Journal of the International Society for the Prevention and Mitigation of Natural Hazards, Springer;International Society for the Prevention and Mitigation of Natural Hazards, vol. 111(2), pages 1355-1373, March.
    3. Susan C. Cook-Patton & C. Ronnie Drever & Bronson W. Griscom & Kelley Hamrick & Hamilton Hardman & Timm Kroeger & Pablo Pacheco & Shyla Raghav & Martha Stevenson & Chris Webb & Samantha Yeo & Peter W., 2021. "Protect, manage and then restore lands for climate mitigation," Nature Climate Change, Nature, vol. 11(12), pages 1027-1034, December.
    4. Julien Boulange & Yukiko Hirabayashi & Masahiro Tanoue & Toshinori Yamada, 2023. "Quantitative evaluation of flood damage methodologies under a portfolio of adaptation scenarios," Natural Hazards: Journal of the International Society for the Prevention and Mitigation of Natural Hazards, Springer;International Society for the Prevention and Mitigation of Natural Hazards, vol. 118(3), pages 1855-1879, September.

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