Managing the Risk of Catastrophes: Protecting Critical Infrastructure in Urban Areas

November 1, 2013
8:00 a.m. Registration and Continental Breakfast
8:25 a.m. Conference Moderator: Joseph Tracy

Executive Vice President, Federal Reserve Bank of New York
8:35 a.m.

Welcoming Remarks

James McAndrews
Executive Vice President and Director of Research, Federal Reserve Bank of New York

8:45 a.m.

Keynote Address

An Economic Perspective on Climate Change Policy

Dr. Robert Stavins
Albert Pratt Professor of Business and Government, John F. Kennedy School of Government, Harvard University; Coordinating Lead Author, Working Group III of the Fifth Assessment Report of the United Nations Intergovernmental Panel on Climate Change

9:30 a.m.

Session 1: Dimensions of the Risks to Infrastructure in Urban Areas

Modeling Risks to Infracstructure in Urban Areas

Dr. Patricia Grossi
Director, Model Product

10:15 a.m.

Session 2: Economic Framework for Managing Risks to Critical Urban Infrastructure

Protecting Critical Infrastructure When the Costs and Benefits are Uncertain

Dr. Robert Lempert
Senior Scientist and Director of the Pardee Center for Longer Range Global Policy and Future Human Condition, the Rand Corporation

Insuring Infrastructure Against Disaster Losses

Dr. Howard Kunreuther
James G. Dinan Professor of Decisions Sciences and Public Policy and Co- Director, Risk Management and Decision Processes Center, Wharton School, University of Pennsylvania

12:00 p.m.

Lunch

Coastal Cities and Climate Change

Dr. Michael Oppenheimer
Albert G. Milbank Professor of Geosciences and International Affairs,
Woodrow Wilson School and Department of Geosciences, Princeton University

2:00 p..m.

Session 3: Public- and Private-Sector Strategies to Reduce Risk and Losses to Infrastructure from Disasters

Risk and Opportunity: Managing Risk For Development

Dr. Stephane Hallegatte
Senior Economist, World Bank and Meteo-France

Resilient Responses to Catastrophes Impacting Critical Urban Infrastructure

Dr. Adam Rose
Research Professor, Sol Price School of Public Policy; Coordinator for
Economics, Center for Risk and Economic Analysis

3:30 p.m.

Session 4: Risks to New York City and Mitigation Strategies

Managing the Risk of Catastrophes: Protecting Critical Infrastructure in Urban Areas

Dr. Klaus Jacob
Adjunct Professor of International and Public Affairs, School of International and Public Affairs, Columbia University; member of the New York Panel on Climate Change and the New York State Sea Level Rise Task Force

The New York City Panel on Climate Change: Climate Risk Information

Dr. Cynthia Rosenzweig
Senior Research Scientist, NASA Goddard Institute for Space Studies at Columbia University; Co-Chair of the New York City Panel on Climate Change

Seth Pinsky
Executive Vice President, RXR Realty
Former President, New York City Economic Development Corporation

4:30 p.m. Closing Commentary

James Orr
Vice President, Federal Reserve Bank of New York

Rae Rosen
Vice President, Federal Reserve Bank of New York
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