Risk Characterisation Methodology For The Development Of Semi-Quantitative, Comparable Indices is an open-access risk characterisation methodology developed by Red Risk. It aims to provide a quick, semi-quantitative assessment and classification of natural risks in coastal cities.
The methodology combines information on hazards, exposure (assets affected), and vulnerabilities to create comparable indices. A key novelty is the comparability between cities and the ease of understanding for both technical and non-technical users. It utilises openly available data sources, making it accessible and replicable. The outputs provide valuable insights for users, particularly public authorities, enabling informed decision-making, enhanced risk management strategies, and efficient resource allocation. This data can also assist insurance companies and financial institutions. Specific outputs for the CCLLs, such as exposure and hazard maps and risk scores for different perils, are also available.
Addressing target audiences and expressing needs
- We are sharing our knowledge
- To raise awareness and possibly influence policy
- Collaboration
Showcase the risk characterisation methodology and the utilisation for the users.
- Others/ No specific audience
- EU and Member State Policy-makers
- Academia/ Universities
R&D, Technology and Innovation aspects
CCLL activities enabled the real-world application of the risk assessment methodology. All 10 CCLLs received tailored hazard maps and risk scores for six climate hazards, including financial risk categorisation. Knowledge Transfer sessions were conducted with the frontrunner and fellow CCLLs, ensuring shared understanding and long-term uptake of the methodology, and CCLLs will share the results.
The methodology is relatively quick and straightforward tool for a light risk assessment, useful for defining priorities and identifying critical situations that might warrant deeper, more detailed assessments. It provides valuable insights for public authorities, enabling informed decision-making, enhancing risk management strategies, and facilitating efficient resource allocation. It can also assist insurance companies and financial institutions in assessing the risk landscape. RedRisk is a successful and operating SME that conducts these assessments and can continue to do so.
The methodology is designed to be fully replicable. It uses openly available data sources and generates semi-quantitative indices that are easy to interpret for both technical and non-technical stakeholders. Its structure allows consistent application across different coastal cities, supporting comparative analysis and wide adoption by planners, policymakers, and local authorities.
The result and proposed business model are sustainable long-term. The tools and methods are based on open data and designed for broad applicability across coastal cities. While technically demanding, offering them as a tailored service—rather than a plug-and-play product—ensures municipalities can access expert support. This service model bridges the gap between scientific innovation and practical urban planning, supporting continued use, updates, and integration into future climate adaptation strategies.
