International practice on assessing investment needs and securing investment to adapt
At a national and international scale the policy environment related to assessing investment needs and securing investment to adapt to climate change is fast moving, cross-cutting and emergent. Flood risk management in Scotland is risk-based and plan led. Available investment is targeted at areas of greatest risk with consideration given to other factors like social vulnerability. In that context, this report sets-out to explore: o how international jurisdictions are determining the appropriate level and desired impact of future investment o how future change is accounted for in decision making o how an optimal and balanced investment is considered o how others are funding and planning to invest for the future, and o lessons and approaches that may be applicable and transferable to Scotland 10 jurisdictions were selected for study to provide a range of different contexts and perspectives. The main conclusion of the study is that framing is everything, meaning that how international jurisdictions frame their investment challenges and ambitions directly influences their investment portfolios, levels of investment and concepts of optimal investment. This subsequently influences how choices are made and the types of funding and financing solutions attracted and secured. The framing of investment ambitions is unique to each jurisdiction and is both place and time sensitive.