GEF Highlights Case Studies on Methodology to Calculate Costs of Adaptation
14 September 2009: The Global Environment Facility (GEF) has presented the results of a study on “Shaping Climate-Resilient Development,” which provides a set of tools for decision makers to adopt a tailored approach for estimating adaptation costs based on local climate conditions, and for building more resilient economies.
The report by the Economics of Climate Adaptation Working Group evaluates current and potential costs of climate change and how to prevent them by determining a location's total climate risk – calculated by combining existing climate risks, climate change and the value of future economic development – and using a cost-benefit analysis to create a list of location specific measures to adapt to the identified risk. The methodology was tested in localities within eight different countries (China, United States, Guyana, Mali, United Kingdom, Samoa, India and Tanzania), which together represent a wide range of climate hazards, economic impacts, and development stages. [ The report ]