Adaptation to Climate Change: how much will it cost?
In order to face the unavoidable and severe climate change impacts expected in the near future the world will have to adapt. Various adaptation options exist in response to specific vulnerabilities, but their efficiency, effectiveness and equity dimension varies across space, time and sector, and deserves more attention. Developing countries, and within those countries the agricultural sector, are estimated to be the most vulnerable to future impacts. Nevertheless, lots of uncertainties must be solved in climate science, particularly in downscaling climate and socio-economic scenarios. In addition, a major challenge for research in support to the design of future policies is to identify the optimal mix between adaptation and alternative climate policies, namely mitigation policies. Given the strong interdependencies between adaptation and development, strategic complementarities between climate and development policies should also be further investigated, identifying the most adequate mechanisms to generate new and additional funds for adaptation. In this direction, mainstreaming adaptation into Overseas Development Assistance funding, as well as devoting to adaptation part of the auction revenues from existing cap and trade programmes are potentially very promising options.