By Carina Bachofen and Edward Cameron

"Simply recognizing what constitutes good adaptation and how to avoid maladaptive practices can significantly reduce overall costs and go a long way towards ensuring long-term resilience." © Kate Holt
Assessments of the global cost of adaptation have varied drastically, ranging from $4-109 billion per year. The World Bank recently released the summary reports of the Economics of Adaptation to Climate Change study, which estimates it will cost between $70-$100 billion each year from now until 2050.
Why do cost estimates vary so widely? First, different methodologies have typically been used to develop these estimates. For example, in some cases, not all of the same sectors have been included in all of the assessments (i.e. ecosystem services, health, tourism) in other cases some sectors have only been partially covered. In addition, many assessments suffer significant shortcomings as they fail to account for sector-wide estimates of adaptation; do not consider climate-proofing current stocks; omit an operational definition of adaptation; underestimate future emission scenarios and resulting climate projections; fail to explicitly treat uncertainty; lack a projected development baseline (which establishes a level of economic development in the absence of climate change); and fail to consider any existing ‘adaptation deficit’.
The EACC study attempts to address these limitations by using the most systematic approach to date to tackle more sectors than prior studies. In addition to developing a global cost estimate, the EACC study also develops national level costs of adaptation for several case countries.
While uncertainty looms over estimates of the cost of adaptation, more is now known about what constitutes good adaptation practice – interventions that transition vulnerable populations to resilience while safeguarding their development pathways. Simply recognizing what constitutes good adaptation and how to avoid maladaptive practices can significantly reduce overall costs and go a long way towards ensuring long-term resilience.





















































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