Description

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.

Layman's description

The aim of the ECONADAPT project is to use economics to better inform decision makers about the actions they should take to adapt to climate change. It follows the publication of the EU's 2013 Adaptation Strategy, which calls for improved economic information in key decision areas. The project focuses on reviewing and, if possible, improving upon "state-of-the-art" economic methods that are applicable to climate change adaptation. It also looks to build the economic evidence base of climate change adaptation through the use of case studies.

The project focuses on the end-user of its outputs. It will therefore engage with relevant stakeholders, to make the outputs suitable to these user. The outputs will be designed to support two user-groups: 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 evidence and data to help in them consider different outcomes from potential decisions. The project will use the European Climate Adaptation Platform (Climate-ADAPT) to communicate its findings.
Short title€3,700,787.80
AcronymECONADAPT
StatusFinished
Effective start/end date30/09/1330/09/16

Keywords

  • HB Economic Theory
  • Adaptation
  • Climate change
  • Economics