In the context of flood risk management, what is the specific distinction between 'vulnerability' and 'exposure'?

In the context of flood risk management, 'exposure' refers to the presence of people, infrastructure, assets, or ecosystems in areas susceptible to flooding. It quantifies what is located within a geographical zone that a flood event could potentially affect. For example, a house built on a floodplain or a road crossing a river that is prone to overflow are considered exposed elements. Exposure is fundamentally about the spatial overlap between a potential flood hazard and the elements that could be impacted by it, indicating only their physical presence in harm's way. It does not inherently describe the degree of potential damage. In contrast, 'vulnerability' describes the characteristics and circumstances of a community, system, or asset that make it susceptible to the damaging effects of a flood event. It is the propensity to be adversely affected and encompasses the physical, social, economic, and environmental factors that determine the extent of harm experienced if a flood occurs. For instance, a house constructed with flood-resistant materials, built on stilts, and owned by individuals with comprehensive flood insurance exhibits lower physical and economic vulnerability even if it is exposed. Conversely, a poorly constructed dwelling with inadequate foundations, inhabited by residents without resources to evacuate or recover, would be highly vulnerable to the same flood, despite being similarly exposed. Therefore, exposure identifies what is present where a flood can happen, while vulnerability assesses how susceptible those exposed elements are to harm and their capacity to cope with or recover from the flood's impact.