In a presentation in Vienna, Ecologic Institute's Jenny Tröltzsch highlighted the importance of including qualitative criteria in assessments of adaptation measures in addition to a cost-benefit analysis. These qualitative criteria can include urgency as well as positive and negative side effects of adaptation. Furthermore, a number of adaptation measures in Germany have even or positive benefit-cost ratios. This includes green roof installation to reduce the heat effect in cities as well as the restoration of floodplains for flood protection. The presentation slides are available for download.
The CIRCLE2-workshop entitled, "Costs of Inaction and benefits of adaptation" on 29 January 2013 in Vienna had the objective of supporting exchange and knowledge transfer of the economic valuation of climate damage and adaptation. Various project results on costs of climate change and the costs and benefits of climate adaptation were presented at this workshop. Various representatives from the EU and member state governments discussed what information policymakers require to make decisions on climate adaptation. Additionally, limitations and problems concerning the assessment of climate costs and the need for further research were discussed.
The presentation of the project Economics of climate change: costs and benefits of adaptation measures for climate change included the different project tasks and the project's final findings. The results show that the monetization of benefits varies in different sectors and is heavily dependent on the availability of market price data. For example, in the energy and agriculture sector a benefit assessment is easier to conduct than an assessment of adaptation measures aimed at strengthening biodiversity. Furthermore, local analysis should be conducted because a large number of adaptation measures will be implemented at the local or regional level.
More information and the presentations are available online.