Homeowners and flood risk: A disconnect between awareness and actions?
Published: 28 September 2023
For homeowners, climate change can have implications through physical as well as transition shocks. Based on two surveys among Dutch homeowners, we find evidence for a disconnect between awareness and intentions to mitigate. Owners of at-risk properties are ten percentage points more likely to see floods as the main threat to their home. However, at-risk owners are also five percentage points less likely to consider improving their property's energy efficiency. Trust in flood protection turns out to be a relevant factor. In particular, at-risk owners with high levels of trust are less likely to consider improvements in energy efficiency. We discuss implications for risk communication.
Keywords: homeownership; floods; mitigation; risk communication
JEL codes Q54; Q56; D14
Working paper no. 791
791 - Homeowners and flood risk: A disconnect between awareness and actions?
Research highlights
- Based on two surveys among Dutch households, this paper finds evidence for a disconnect between climate risk awareness and intentions to mitigate.
- Owners of at-risk properties are more likely to see floods as the main threat to their home, but less likely to consider improving their property's energy efficiency.
- Trust in flood protection turns out to be a relevant factor.
- In particular, at-risk owners with high levels of trust in flood protection are less likely to consider improvements in energy efficiency.
- Risk communication should make explicit that ensuring adequate levels of flood protection will also require continued investments.
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