|Project name:||StartClim 2004 - Adaptation strategies to droughts: Evaluation of economic- financial versus technological approaches in risk management|
|Project team:||Andreas Gobiet|
|Austrian National Bank|
|Duration:||Mar. 2005 - Sep. 2006|
In this project financial adaptation strategies to manage drought risk are analyzed for three particularly affected economic sectors in Austria: Tourism, agriculture and energy production.
The main focus will be to examine, whether alternative risk transfer mechanisms like weather derivatives can be implemented in these sectors. Case studies will be developed to show how weather derivatives can be used in South-Eastern-Styria, a region which was heavily affected by droughts in the recent years.
Furthermore it will be analyzed, whether financial adaptation strategies or technical adaptation strategies are more efficient in reducing weather risk.