The Economics of Adaptation to Climate Change – FEEM-OECD International Workshop
09:00 - 17:45
Even if world governments soon agree to adopt measures to stabilize GHG concentrations in the atmosphere by the end of the century, the projected residual increase in global warming will considerably alter climate worldwide. Adaptation is thus needed to respond optimally to the new challenging environment. This issue has traditionally been overshadowed by the focus on mitigation policy, but has recently finally emerged in the mainstream political debate and research agenda. It promises to become dominant in the next few decades.
Adaptation is a process taking place through space and time. It needs to be evaluated from a local standpoint, because adaptation strategies are designed to cope with well defined impacts in specific areas, but also from a worldwide perspective, as it is also a global strategy dealing with a global problem. Short- and medium-term optimal adaptation strategies and early action have to be assessed as they must be coherent with long-term adaptation needs.
This heterogeneity of spatial and time horizons poses a serious challenge to economists that study optimal adaptation strategies. At present, we still lack a unifying framework of analysis and this generates inconsistencies across time and space. Long-term analyses of adaptation strategies have often neglected short-term implications and policy decisions. Different degrees of spatial resolution of the models employed affect cost estimates and optimal strategies substantially.
The aim of this workshop is to gather leading researchers actively engaged in the study of the economics of adaptation to climate change to critically review the methodologies used in their analysis and to evaluate further developments or new approaches that would make it possible to address questions that still remain unanswered. Particular emphasis will be given to the long/short term and local/economy-wide dimensions of adaptation strategies and to new methodologies that are capable of addressing the shortcomings of the first generation of studies on adaptation.
This two-day workshop will be structured into four sessions with ample time for presentation (30 min) and discussion (60 min). Invited speakers will present recent advancements in their field of research and will critically assess shortcomings and future developments. A wide range of methods will be explored to provide a wide overview of the frontiers of the discipline.
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