Equipping Stockholm for extreme weather
KTH will assist the City of Stockholm in fortifying its defenses against extreme weather conditions. A new research project aims to identify strategies to mitigate the city's escalating costs associated with fire and flooding, expenses that pose a potential threat to spiral out of control.
The risk of extreme weather events is on the rise due to climate warming. Flooding and damage from extreme heat incur significant costs for individuals and insurance companies annually.
”We are already witnessing the consequences of climate change, with the city annually allocating substantial funds to address fire and water damage to its buildings. It is imperative that we utilize research to devise effective measures, as these challenges are only expected to intensify in the future,” says Clara Lindblom, Housing Commissioner in the City of Stockholm.
Together with the City of Stockholm's insurance company, S:t Erik Försäkring, KTH will explore methods to prevent climate-related damage. The primary focus will be on on mitigating damage to municipal housing companies Stockholmshem, Svenska Bostäder, and Familjebostäder.
”We will analyze insurance data and building information to find intelligent strategies for preventing escalating losses for the city," states Christian Thomann leading the project from KTH’s Department of Industrial Engineering and Management, leading the project from KTH.”
”With our experience in handling insurance data and other complex datasets, our goal is to identify problems and implement effective measures.”
Rental properties account for most of the city's property portfolio, with these companies managing around 70,000 homes. However, the research is intended to have broader applications.
“As the climate crisis deepens, costs will increase for all property owners,” says Clara Lindblom. “Therefore, it’s crucial that the insights gained from this research project are disseminated widely, especially to other areas of the city where properties host socially significant activities such as schools and elderly care.”
The 5 million kronor grant from the City of Stockholm and Digital Futures, a research center at KTH, will fund a Ph.D. position and support some damage minimization measures.
”This project will help the city adapt to future challenges,” concludes Christian Thomann.
Read more about the project Improving resilience: Using insurance data to design better loss prevention.
Text: Anna Gullers ( agullers@kth.se )