Book contents
- Frontmatter
- Contents
- Preface
- Acknowledgements
- Introduction
- Summary of Conclusions
- Part I Climate Change – Our Approach
- Part II Impacts of Climate Change on Growth and Development
- Part III The Economics of Stabilisation
- Part IV Policy Responses for Mitigation
- Part V Policy Responses for Adaptation
- 18 Understanding the Economics of Adaptation
- 19 Adaptation in the Developed World
- 20 Adaptation in the Developing World
- Part VI International Collective Action
- Abbreviations and Acronyms
- Postscript
- Technical Annex to Postscript
- Index
18 - Understanding the Economics of Adaptation
Published online by Cambridge University Press: 05 March 2014
- Frontmatter
- Contents
- Preface
- Acknowledgements
- Introduction
- Summary of Conclusions
- Part I Climate Change – Our Approach
- Part II Impacts of Climate Change on Growth and Development
- Part III The Economics of Stabilisation
- Part IV Policy Responses for Mitigation
- Part V Policy Responses for Adaptation
- 18 Understanding the Economics of Adaptation
- 19 Adaptation in the Developed World
- 20 Adaptation in the Developing World
- Part VI International Collective Action
- Abbreviations and Acronyms
- Postscript
- Technical Annex to Postscript
- Index
Summary
KEY MESSAGES
Adaptation is crucial to deal with the unavoidable impacts of climate change to which the world is already committed. It will be especially important in developing countries that will be hit hardest and soonest by climate change.
Adaptation can mute the impacts, but cannot by itself solve the problem of climate change. Adaptation will be important to limit the negative impacts of climate change. However, even with adaptation there will be residual costs. For example, if farmers switch to more climate resistant but lower yielding crops.
There are limits to what adaptation can achieve. As the magnitude and speed of unabated climate change increase, the relative effectiveness of adaptation will diminish. In natural systems, there are clear limits to the speed with which species and ecosystems can migrate or adjust. For human societies, there are also limits – for example, if sea level rise leaves some nation states uninhabitable.
Without strong and early mitigation, the physical limits to – and costs of – adaptation will grow rapidly. This will be especially so in developing countries, and underlines the need to press ahead with mitigation.
Adaptation will in most cases provide local benefits, realised without long lag times, in contrast to mitigation. Therefore some adaptation will occur autonomously, as individuals respond to market or environmental changes. Much will take place at the local level. Autonomous adaptation may also prove very costly for the poorest in society.
- Type
- Chapter
- Information
- The Economics of Climate ChangeThe Stern Review, pp. 457 - 470Publisher: Cambridge University PressPrint publication year: 2007