This initiative also seeks to understand how these events could affect the life-cycle costs of these infrastructures in the coming decades and to ensure that investments are made in adaptation measures to cope with these changes. ICARIA will propose a comprehensive framework for climate resilience and assessment of economic and social impacts. This includes the development and validation of state-of-the-art models capable of simulating risks arising from extreme climate events, as well as the analysis of related climate hazards. The impact assessment will focus on critical and vulnerable assets. On the other hand, cascading effects will focus on strategic services and public and private infrastructures related to the water, transport, energy, housing and environment sectors.