Adaptation to Climate Change

S. Fankhauser, Adaptation to Climate Change, Annual Reviews of Resource Economics, doi10.1146/annurev-resource-100516-033554

38 Pages Posted: 16 Nov 2016

See all articles by Sam Fankhauser

Sam Fankhauser

London School of Economics & Political Science (LSE) - Grantham Research Institute on Climate Change and the Environment

Multiple version iconThere are 2 versions of this paper

Date Written: November 11, 2016

Abstract

This article reviews the economic and analytical challenges of adaptation to climate change. Adaptation to climate risks that can no longer be avoided is an important aspect of the global response to climate change. Humans have always adapted to changing climatic conditions, and there is growing, if still patchy, evidence of widespread adaptation behaviour. However, adaptation is not “autonomous”, as sometimes claimed. It requires knowledge, planning, coordination and foresight. There are important adaptation gaps, behavioural barriers and market failures, which hold back effective adaptation and require policy intervention. We identify the most urgent adaptation priorities, areas where delay might lock in future vulnerability, and outline the decision-making challenges of adapting to an unknown future climate. We also highlight the strong inter-linkages between adaptation and economic development, pointing out that decisions on industrial strategy, urban planning and infrastructure investment all have strong bearing on future vulnerability to climate change. We review the implications of these links for adaptation finance, and what the literature tells us about the balance between adaptation and mitigation.

Keywords: climate change adaptation; climate-resilient development; climate change policy; natural disasters

JEL Classification: O29, Q54, Q56

Suggested Citation

Fankhauser, Sam, Adaptation to Climate Change (November 11, 2016). S. Fankhauser, Adaptation to Climate Change, Annual Reviews of Resource Economics, doi10.1146/annurev-resource-100516-033554 . Available at SSRN: https://ssrn.com/abstract=2869292 or http://dx.doi.org/10.2139/ssrn.2869292

Sam Fankhauser (Contact Author)

London School of Economics & Political Science (LSE) - Grantham Research Institute on Climate Change and the Environment ( email )

Houghton Street
London, WC2A 2AE
Great Britain

HOME PAGE: http://personal.lse.ac.uk/fankhaus/

Register to save articles to
your library

Register

Paper statistics

Downloads
76
Abstract Views
337
rank
314,604
PlumX Metrics