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The exposure of Italian manufacturing firms to hydrogeological risk

Author

Listed:
  • Michele Loberto

    (Bank of Italy)

  • Riccardo Russo

    (Bank of Italy)

Abstract

This paper introduces a new methodology for assessing the exposure of Italian companies to natural hazards, which accounts for the distribution of companies' activity across different sites and locations. We apply this methodology to evaluate the exposure of manufacturing companies to flood and landslide risks. The shares of manufacturing workers directly exposed to floods and landslides are 29% and 5% respectively. The exposure to hydrogeological risk is correlated with company characteristics, in particular with the number of company sites.

Suggested Citation

  • Michele Loberto & Riccardo Russo, 2024. "The exposure of Italian manufacturing firms to hydrogeological risk," Questioni di Economia e Finanza (Occasional Papers) 899, Bank of Italy, Economic Research and International Relations Area.
    • Handle: RePEc:bdi:opques:qef_899_24
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    File URL: https://www.bancaditalia.it/pubblicazioni/qef/2024-0899/QEF_899_24.pdf
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    References listed on IDEAS

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    1. Giacomo Bressan & Anja Đuranović & Irene Monasterolo & Stefano Battiston, 2024. "Asset-level assessment of climate physical risk matters for adaptation finance," Nature Communications, Nature, vol. 15(1), pages 1-13, December.
    2. Ruixue Jia & Xiao Ma & Victoria Wenxin Xie, 2022. "Expecting Floods: Firm Entry, Employment, and Aggregate Implications," NBER Working Papers 30250, National Bureau of Economic Research, Inc.
    3. Marco Donnini & Marco Modica & Paola Salvati & Ivan Marchesini & Mauro Rossi & Fausto Guzzetti & Roberto Zoboli, 2020. "Economic landslide susceptibility under a socio-economic perspective: an application to Umbria Region (Central Italy)," Review of Regional Research: Jahrbuch für Regionalwissenschaft, Springer;Gesellschaft für Regionalforschung (GfR), vol. 40(2), pages 159-188, October.
    4. Giorgio Meucci & Francesca Rinaldi, 2022. "Bank exposure to climate-related physical risk In Italy: an assessment based on AnaCredit data on loans to non-financial corporations," Questioni di Economia e Finanza (Occasional Papers) 706, Bank of Italy, Economic Research and International Relations Area.
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    More about this item

    Keywords

    natural disasters; floods; landslides; climate risk; firms;
    All these keywords.

    JEL classification:

    • D22 - Microeconomics - - Production and Organizations - - - Firm Behavior: Empirical Analysis
    • Q54 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Climate; Natural Disasters and their Management; Global Warming
    • R11 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - Regional Economic Activity: Growth, Development, Environmental Issues, and Changes

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