Senior Minister Tharman Shanmugaratnam visits IWP

Senior Minister Tharman Shanmugaratnam visited IWP on 15 March to meet with IWP researchers and learn more about IWP’s work. Professor Eduardo Araral, Director of IWP, shared IWP’s work and achievements over the past years, and discussed the Resilient Cost Benefit Analysis approach. This approach extends the scope of conventional Cost Benefit Analysis to include the – often intangible – costs and benefits of climate risks/shocks and other risks (economic, fiscal, environmental, institutional) that could make infrastructure not economically and financially viable. Researchers Maki Nakajima and Mingxuan Fan presented their research on behavioural dimensions of water demand management, which aims at nudging households to reduce their water use. IWP’s Deputy Director Joost Buurman presented his work on urban water security and decision making for climate adaptation.