Economics of Adaptation
To adapt to the impacts of climate change, state and local governments will need to understand the economic impacts of climate change to their communities and develop cost-effective strategies for implementing adaptation measures. This page includes resources on the economics of adaptation, including resources on benefit-cost analysis for adaptation measures, reports estimating the costs of no action on climate change, and reports describing how to make the economic case for pursuing adaptation action.
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SHOW LESSMaking the Economic Case for Adaptation
This tab features a select list of resources providing to introduce users to the topic of how policymakers and researchers are assessing the economic impacts of climate change, assessing the economic benefits of adaptation, and making the economic case for adaptation.
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Natural Hazards, UnNatural Disasters: The Economics of Effective Protection
2010
This report, from the World Bank and the United Nations, examines the steps that national governments and individuals can take to mitigate the damage of extreme weather events, such as earthquakes, droughts, floods, and storms. The report is the culmination of a two-year effort by 70 experts from various disciplines and institutions, primarily economists but also climate scientists, geographers, political scientists, and psychologists.
Related Organizations: The World Bank
Resource Category: Solutions
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The Economic Impact of the 2016 Loma Fire
2017
Developed by Earth Economics and requested by the Santa Clara Valley Open Space Authority (OSA), this report offers an assessment of the comprehensive economic impact of the 2016 Loma Fire that occurred in the Santa Cruz mountains of California. The report details the cost of lost ecosystem services, and the process of assessing these costs. Earth Economics also provides recommendations for mitigating future fire-related risk. The OSA requested this analysis in order to better understand the true costs of wildfire events, and how management practices and policies can be modified to reduce overall risk as climate change increases the incidence and intensity of wildfire events.
Related Organizations: Earth Economics
Resource Category: Assessments
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Economic and Environmental Costs of Climate Change: State Case Studies
This site provides PDF files of individual state case studies pertaining to the economic and environmental costs of climate change. The studies were prepared by the National Conference of State Legislatures (NCSL) and the Center for Integrative Environmental Research (CIER) at the University of Maryland. The reports summarize climatic changes affecting 12 states, their potential fiscal impact, and the effect that future changes in climate may have on state economies. The research highlights the importance of planning for the possible effects of climate change on state natural and economic resources and explores options for reducing these effects.
Related Organizations: University of Maryland's Center for Integrative Environmental Research (CIER), National Conference of State Legislatures, University of Maryland, University of Maryland
Resource Category: Assessments
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The US Economic Impacts of Climate Change and the Costs of Inaction
October 2007
This report presents a review of economic studies for the U. S. , as related to some predicted impacts of climate change. The "costs of inaction" are evaluated - how a failure to reduce greenhouse gases can make response and adaptation to climate impacts even more expensive. The analysis is not focused on the costs of controlling emissions, rather it considers resultant expenses, such as rebuilding communities and other ripple economic effects on many sectors, in order to develop a more comprehensive estimate of financial impact.
Related Organizations: University of Maryland, University of Maryland's Center for Integrative Environmental Research (CIER)
Authors or Affiliated Users: Matthias Ruth, Dana Coelho, Daria Karetnikov
Resource Category: Assessments
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The Economic Case for Restoring Coastal Ecosystems
April 2014
The Center for American Progress (CAP) and Oxfam America collaborated with a research team to identify and analyze 3 coastal restoration sites of the 50 that NOAA funded through the American Recovery and Reinvestment Act of 2009. A detailed economic analysis of three sites was produced that exemplify the potential economic benefits of coastal restoration. The sites analyzed for the report are an oyster reef and sea grass restoration project in the Seaside Bays of Virginia, an oyster reef project in Mobile Bay, Alabama, and salt marsh restoration in San Francisco Bay, California.
Related Organizations: Center for American Progress, Oxfam America
Authors or Affiliated Users: Michael Conathan, Jeffrey Buchanan, Shiva Polefka
Resource Category: Assessments
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Moody's Environmental Risks: Evaluating the Impact of Climate Change on U.S. State and Local Issuers
November 28, 2017
This report from Moody's Investor Services discusses potential credit rating impacts from the exposure and vulnerability of U. S. state and local governments to economic losses from climate change. The report notes that without adaptation, state and local governments will face increasing risks risks from severe heat, changing precipitation patterns, and rising sea levels - and that these risks will become more severe over time. The economic impacts of climate change will include property damage, lowered productivity, health impacts, and increasing energy use.
Related Organizations: Moody's Investor Services
Resource Category: Funding
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Risky Business Project - Economic Risks of Climate Change to the U.S.
October 2013
Launched in October 2013, Risky Business is a year-long effort to quantify and publicize the economic risks the United States faces from the impacts of a changing climate. Risky Business is a joint initiative of Bloomberg Philanthropies, the Office of Hank Paulson, and Next Generation. Additional support for Risky Business was provided by the Skoll Global Threats Fund.
Resource Category: Assessments
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Risky Business: The Economic Risks of Climate Change to the United States, Final report
June 24, 2014
‘Risky Business’ estimates the impact of projected changes in temperature, precipitation, sea levels, and storm activity on the U. S. economy. The report presents a new approach to understanding climate risks for key U. S. business sectors, and provides business leaders with a framework for measuring and mitigating their own exposure to climate risk. The Risky Business research focused on damage to coastal property and infrastructure from rising sea levels and increased storm surge, climate-driven changes in agricultural production and energy demand, and the impact of higher temperatures on labor productivity and public health.
Resource Category: Assessments
