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Tuesday, July 27, 2010

Economic Evaluation of Climate Change Adaptation Projects

The World Bank has produced an overview report on the topic of evaluation of adaptation projects - an issue that is likely to become increasingly important, yet methods and approaches for evaluation are currently quite limited. This report focuses on understanding the economic basis of evaluation with an emphasis on cost/benefit analysis. However, the report also discusses the role of multi-criteria analysis and real options, both of which provide pathways for expanding the evaluation of adaptation to consider a broader set of values.

From the World Bank:

"Approaches for the Agricultural Sector and Beyond identifies challenges and solutions for carrying out project-level economic analysis of adaptation to climate change, both stand-alone and integrated into broader development projects. The focus is on the agricultural sector, where the impacts of climate change have the potential to disrupt the livelihoods of rural populations and where adaptation must be given urgent consideration."

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