Towards the Assessment of Economic Damage from Floods in Russia and the Potential for Adaptation

The study examines the impact of climate change on the increasing damages associated with floods in Russia. Current economic losses are estimated at 0.1–0.13 % of GDP. This indicator is comparable to the global aver-age, thereby rendering it relevant. The magnitude of these losses highlights the significance of implementing adaptive measures. It is emphasized that, with climate change, the damages incurred from flooding in Russia are expected to escalate. Furthermore, the relationship between temperature rise and damages is nonlinear; specifically, an increase of 1 °C in temperature leads to a 7 % increase in atmospheric moisture content. This phenomenon contributes to heightened peak precipitation levels, thus significantly amplifying the frequency of extreme flooding events and, consequently, the associated damages. To mitigate the adverse effects of flood-ing, long-term preventive adaptation measures are recommended. The most effective strategy involves creat-ing areas for the temporary storage of excess water-such as reservoirs, canals, and the dredging of riverbeds-while the construction of levees ranks second in efficacy. The findings indicate that adaptation to flooding is cost-effective and profitable, since each invested unit of funds leads to a multiple reduction in flood-related damages.