IDEAS home Printed from https://ideas.repec.org/p/lsg/lsgwps/wp07.html
   My bibliography  Save this paper

The costs of adaptation

Author

Listed:
  • Samuel Fankhauser

Abstract

Policy interest in the cost of adaptation is growing, but compared to the mitigation literature adaptation cost research is still in its infancy. Global adaptation cost estimates from more recent studies range from around $25 billion a year to well over $100 billion by 2015-2030. The wide range is symptomatic of the poor state of knowledge. Important knowledge gaps remain both in terms of scope (whether all relevant impacts are covered) and depth (whether, for a given impact all relevant adaptation options have been considered). The omissions introduce biases in both directions, upward and downward, but it is likely adaptation costs have been underestimated so far. Adaptation is only one part of the overall response to (and therefore the costs of) climate change. The total burden of climate change consists of three elements: the costs of mitigation (reducing the extent of climate change), the costs of adaptation (reducing the impact of change) and the residual impacts that can be neither mitigated nor adapted to. The annual adaptation cost estimates reviewed here cannot be directly compared with the other two cost elements. Making that comparison would require an integrated model that takes into account the total impact of greenhouse gases over their lifetime in the atmosphere.

Suggested Citation

  • Samuel Fankhauser, 2009. "The costs of adaptation," GRI Working Papers 7, Grantham Research Institute on Climate Change and the Environment.
  • Handle: RePEc:lsg:lsgwps:wp07
    as

    Download full text from publisher

    File URL: http://www.lse.ac.uk/GranthamInstitute/wp-content/uploads/2014/02/WorkingPaper7.pdf
    Download Restriction: no

    References listed on IDEAS

    as
    1. Tol, Richard S. J., 2005. "The marginal damage costs of carbon dioxide emissions: an assessment of the uncertainties," Energy Policy, Elsevier, vol. 33(16), pages 2064-2074, November.
    2. Kelly de Bruin & Rob Dellink & Shardul Agrawala, 2009. "Economic Aspects of Adaptation to Climate Change: Integrated Assessment Modelling of Adaptation Costs and Benefits," OECD Environment Working Papers 6, OECD Publishing.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Samuel Fankhauser & Nat Martin & Stephen Prichard, 2009. "The economics of the CDM levy: Revenue potential, tax incidence and distortionary effects," GRI Working Papers 1, Grantham Research Institute on Climate Change and the Environment.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:lsg:lsgwps:wp07. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (The GRI Administration). General contact details of provider: http://edirc.repec.org/data/grlseuk.html .

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.