The number of climate-related disasters has progressively increased in the last two decades and this trend will drastically exacerbate in the medium- and long-term horizons according to climate change projections. In this framework, through a multi-disciplinary team and a strong background acquired in recent projects, ICARIA aims to promote the use of asset-level modeling to achieve a better understanding of climate related tangible direct and indirect impacts on critical assets due to complex, cascading, and compound disasters. Furthermore, it takes into account the related risk reduction provided by suitable, sustainable, and cost-effective adaptation solutions. ICARIA focuses on both (i) critical assets and services that were not designed for potential climate change-related impacts that can increase the unplanned outages and failures, and (ii) on housing, natural areas, and population. Cutting edge methods regarding climate scenario building, asset-level-coupled models, and multi-risk assessment approaches will be implemented and replicated in three EU regions to understand how future climate scenarios might affect critical assets and to provide decision-making support tools to private and public risk owners to assess the costs and benefits of various adaptation solutions.