Suchergebnisse

As the population is growing and urbanization is progressing, higher numbers of people are exposed to disaster risks, especially in the developing countries. Climate change is further worsening the impacts of existing risks and introducing new ones. It is imperative that countries need to invest more in disaster risk reduction (DRR) as well as climate change adaptation (CCA) not only to minimize their impacts but also to build resilience. To date, various international arenas have recommended increasing investment in DRR. The Sendai Framework for DRR, adopted by the UN member states in 2015 during the Third UN World Conference on DRR, emphasizes investment as a priority for decreasing disaster risks and losses. The Yangon Declaration set the goal of doubling investment to address water-related disasters. However, most countries are not able to proactively invest enough in DRR. Understanding the current scale and estimate of investment and its effects is crucial for promoting DRR investment, but such information and estimates are rarely available. This book examines the current investment trends and issues in DRR and CCA. Based on specific case studies, field data and evidence, the book identifies challenges in increasing investment and recommends various investment policies and innovative approaches to sustainable progress towards a resilient future. Chapter 12 is available open access under a Creative Commons Attribution 4.0 International License via link.springer.com.

The feasibility of the project called IceLink is now being examined, which entails laying 800–1,200 MW high-voltage direct current (HVDC) submarine cables over 1,000 km and transmitting over 5 TWh per annum. This project will meet the growing demand in Europe for electricity derived from renewable energy sources, though there exists a relatively high degree of potential risks (e.g., financial risk due to the lingering affect of the financial crisis). This study aims to examine the effectiveness of public financial support for the project by using a quantitative analysis as well as discussing public financial support as a possible measure to fill the viability gap. The simulation results imply that the project is unfeasible unless there is public financial support. In the light of the public nature of the project and its promotion of green power, public financial support may be acceptable. It can thus be said that public financial support will be effective for this project. Also, the sensitivity analysis results show break-even points for three major parameters:—WACC, wholesale power price, and CAPEX—to NPV. Furthermore, the corresponding public financial supports—concessional loans provided by public financial institutions, applying for the feed-in tariff (FiT) system in the UK, and receiving a government subsidy for initial investment—are discussed as potential measures to fill the viability gap. In order to have a feasible project, it is essential to introduce one or more effective measures of public financial support.