Adaptation Economics
The economics of adapting to climate change that is already locked in -- sea walls, drought-resistant crops, managed retreat, and who pays.
The Adaptation Imperative
Even if the world stopped all emissions tomorrow, decades of warming are already locked into the climate system. Global temperatures will rise at least 1.5 degrees Celsius above pre-industrial levels, and likely more. Sea levels will continue rising for centuries regardless of emission cuts. Adaptation -- adjusting to climate impacts that cannot be avoided -- is no longer optional.
The economics of adaptation are compelling but unevenly distributed. The Netherlands spends roughly $1 billion annually on flood defenses, protecting a country where a third of the land is below sea level. Bangladesh has invested in cyclone shelters that reduced death tolls from hundreds of thousands to hundreds. New York City's post-Hurricane Sandy resilience plan costs $20 billion. These investments save far more than they cost, but only wealthy countries and cities can afford them.