Although the current financial crisis in Europe has pushed climate change down the agenda in the public sphere, it is still a very high priority for businesses. The enormous damage caused by major floods in Europe, the US, Thailand and Australia over the last years has demonstrated the need of producing risk models to anticipate the likelihood and severity of flooding in vulnerable areas.
The unprecedented rainfall in the Venice region on September 26, 2007, with intensity close to 300mm per day measured at one station, served as the reference event for the study which offers a blueprint for innovate climate modelling. The cutting-edge approach in applying climate science to business is unique in several regards: