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Adaptation, Mitigation and Innovation: A Comprehensive Approach to Climate Policy

Author

Listed:
  • Carlo Carraro

    () (Department of Economics, University Of Venice C� Foscari)

  • Shardul Agrawala

    () (OECD)

  • Francesco Bosello

    () (University of Milan, Fondazione Enrico Mattei, and CMCC)

  • Enrica De Cian

    () (University of Venice, Fondazione Enrico Mattei)

Abstract

The ultimate question that most interests policy makers is how to reduce the climate change vulnerability of socio-economic systems in the most cost-effective manner. Extended literature has investigated the different dimensions of mitigation strategies, whereas much less can be found on adaptation. Even less can be found on the interactions between adaptation and mitigation. The increasing emphasis on adaptation raises a set of still unanswered questions concerning the design of an optimal mix of mitigation and adaptation measures. This paper presents an Integrated Assessment Model (IAM) that explicitly models the connections between mitigation, climate change impacts and adaptation. Compared to the few existing studies in the field, our framework provides a more detailed characterisation of adaptation processes. Adaptation activities have been distinguished from adaptive capacity building. We also provide an updated quantitative support for the calibration of adaptation costs and benefits. Using this framework, we explore issues such as the optimal timing of mitigation and adaptation, the trade-off between mitigation and adaptation, and the regional distribution of investments and residual damage.

Suggested Citation

  • Carlo Carraro & Shardul Agrawala & Francesco Bosello & Enrica De Cian, 2009. "Adaptation, Mitigation and Innovation: A Comprehensive Approach to Climate Policy," Working Papers 2009_25, Department of Economics, University of Venice "Ca' Foscari".
  • Handle: RePEc:ven:wpaper:2009_25
    as

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    Cited by:

    1. De Alwis, Diana & Noy, Ilan, 2017. "The cost of being under the weather: Droughts, floods, and health care costs in Sri Lanka," Working Paper Series 6397, Victoria University of Wellington, School of Economics and Finance.
    2. repec:wsi:ccexxx:v:04:y:2013:i:02:n:s201000781350005x is not listed on IDEAS
    3. Heuson, Clemens & Gawel, Erik & Gebhardt, Oliver & Hansjürgens, Bernd & Lehmann, Paul & Meyer, Volker & Schwarze, Reimund, 2012. "Fundamental questions on the economics of climate adaptation: Outlines of a new research programme," UFZ Reports 05/2012, Helmholtz Centre for Environmental Research (UFZ).
    4. Heuson, Clemens & Gawel, Erik & Gebhardt, Oliver & Hansjürgens, Bernd & Lehmann, Paul & Meyer, Volker & Schwarze, Reimund, 2012. "Ökonomische Grundfragen der Klimaanpassung: Umrisse eines neuen Forschungsprogramms," UFZ Reports 02/2012, Helmholtz Centre for Environmental Research (UFZ).

    More about this item

    Keywords

    Climate change impacts; mitigation; adaptation; integrated assessment model;

    JEL classification:

    • Q54 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Climate; Natural Disasters and their Management; Global Warming
    • Q56 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Environment and Development; Environment and Trade; Sustainability; Environmental Accounts and Accounting; Environmental Equity; Population Growth
    • Q43 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - Energy and the Macroeconomy

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