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ECONADAPT

Economics of climate change adaptation in Europe Econadapt

The aim of the ECONADAPT project is to provide user-orientated methodologies and evidence relating to economic appraisal criteria to inform the choice of adaptation actions using analysis that incorporates cross-scale governance under conditions of uncertainty. A critical theme of the proposal is therefore to support the application of adaptation economics in the period following the publication of the EU’s 2013 Adaptation Strategy, focusing on key decision areas that need enhanced economic information, and on the key users of such information.


   

Key decision areas include: management of extreme weather events modified by climate change that have high impact costs in the short term; appraisal of projects where the costs of climate risks are borne over long time periods; appraisal of flows of large-scale EU funds where the case for climate resilience needs to be made; macro-economic effects of climate change risks and adaptation strategies at Member State and EU levels, and; appraisal of overseas development assistance aimed at reducing the damage costs of climate risks in less developed countries. The project will work intensively with stakeholders from e.g. relevant DGs, Member States, Regional or local policy makers, and seek to learn from, and inform, experience.

The methods and approaches will be co-developed with the diverse user groups engaged in using economic data within adaptation decision making. A two-tier approach is proposed to provide detailed guidance and empirical data: first, to other economists or private sector organisations with adaptation needs, and second, to other users who may want to use ‘light-touch’ methods, with the empirical data to help in scoping decision making outcomes. A strong link will be made with the European Climate Adaptation Platform (Climate-ADAPT), with the guidance and economic information designed for a wide range of users.

Start date: October 2013

End date: September 2016

Call: FP7-ENV-2013-two-stage (European Commission)

Partners in the ECONADAPT consortium:

University of Bath (United Kingdom) - Coordinator
Ecologic Institut (Germany)
BC3 Basque Centre for Climate Change (Spain)
Internationales Institu Für Angewandte Systemanalyse (Austria)
Sveriges Lantbruksuniversitet (Austria)
Stichting VU-VUMC (Netherlands)
Potsdam Institu Für Klimafolgenforschung (Germany)
Centro Euro-Mediterraneo sui cambiamenti climatici (Italy)
Wageningen University (Netherlands)
University of East Anglia (United Kingdom)
Paul Watkiss Associates (United Kingdom)
Univerzita Karlova V Praze (Czech Republic)
JRC - Joint Research Centre (Belgium)

Key people involved in BC3:

Prof. Anil Markandya 
Dr. Ibon Galarraga 
Dr. Aline Chiabai
Elisa Sainz de Murieta
Alina Tepes
 

Objectives and concepts:

The over-arching objectives of the ECONADAPT project are to advance the knowledge base relating to the economics of adaptation, and to convert this new knowledge base into practical material to help support adaptation planning and decision makers. Fulfilling these objectives will provide economic methodological advances and empirical data for a range of adaptation problems. The project will seek to achieve these outcomes by working with policy makers, to learn and co-develop outputs, and ensure that the research is grounded in practice. This will also encourage final dissemination and transferability of the information in a user-orientated form that is suitable for targeted end users, and help strengthen the impact of the project. The project will achieve this through a programme of research structured as a series of sub-objectives as follows:

  • To focus on user needs, defined by stakeholder involvement throughout, that inform the methodological and empirical advances to be made;
  • To embed economic assessment within a framework that incorporates the interaction of adaptation decisions within existing policies, current policy developments and other socio-economic trends;
  • To derive new and improved estimates of key economic parameters likely to influence economic assessments of adaptation, including those relating to social preferences across time and space;
  • To develop approaches that better encourage and facilitate consistency in the treatment of scale, uncertainty, aggregation and transferability in various forms of economic assessments of adaptation;
  • To develop and test fit-for-purpose methodological approaches for cost and effect/benefit estimation in adaptation economic assessment, including non-monetary metrics;
  • To facilitate the expansion - compared to previous economic analyses - of the range of adaptation actions, and types of costs and benefits considered, in analytical practice;
  • To apply the range of methods and data derived in decision contexts where the economic costs and benefits of adaptation are significant, and where the results have high spatial transferability;
  • To facilitate effective dissemination of both methodological and empirical outputs.

 

Website: econadapt.eu/

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