New Water Policy and Practice Volume 1, Number 2 - Spring 2015 | Page 60

New Water Policy and Practice - Volume 1, Number 2 - Spring 2015 Integrated Flood Risk Management, Lessons from the Rhine and Danube for South Asia Robert BrearsA The South Asia region is one of the most vulnerable regions to climate change flooding events leading to severe economic losses. With flood risks being transboundary, there is the potential for instability and state fragility to lead to migration and displacement, weak governance and overall geo-political instability in the South Asia region. Europe has experience in managing transboundary flood risks, having implemented the EU Flood Directive, which calls for transboundary actions to mitigate flood risks. Using existing platforms for cooperation, Europe can transfer knowledge on Integrated Flood Risk Management expertise from the Rhine and Danube to the South Asia region to ensure regional economic and political stability. Keywords: private sector; water governance; privatization; regulation; incentives Introduction S outh Asia is one of the most vulnerable regions to climate change flood events. According to the Asia Development Bank India, in addition to Bangladesh, Nepal, Sri Lanka, Bhutan, and the Maldives would lose around 1.8% of their gross domestic product by 2050 and almost 9% by 2100 from climate change disasters if the world follows a “business as usual” approach to climate change mitigation: no change in the use of fossil fuels in the global economy (ADB 2014). It is projected that with climate change extreme weather events, including flooding the losses will be even greater. India and the rest of the region is already susceptible to flooding events: in June 2013 alone, the North India floods claimed over 5,000 lives while 100,000 people required rescuing after villages and towns were destroyed from landslides and flooding (Flood List 2013). Over the past decade Europe has suffered from numerous flooding events leading to loss of life, displacement of people, and damage to infrastructure and property: between 1998 and 2009, Europe suffered over 213 major flooding events causing 1,126 deaths, the displacement of half a million people and at least EUR 52 billion in insured economic losses. With climate change, the frequency of flooding in Europe is set to double by 2050 resulting in average annual flood losses of around EUR 23 billion (The Independent 2014). A Founder of Mitidaption, Mark and Focus, and Visiting Scholar, MIIS at Monterey, United States. This research was conducted as part of a Visiting Fellowship to the Free University of Berlin’s NFG, Asian Perceptions of the EU 1 59