Friday, October 2, 2009

World Bank Estimate cost of adaptation: $75-100 billion/year!

World Bank Estimates Costs of Adaptation

© The World Bank30 September 2009: The World Bank has presented the results of an Economics of Adaptation to Climate Change (EACC) study, which estimates costs of adaptation to climate change in developing countries will be in the order of US$75-100 billion per year for the period 2010-2050, considering a 2°C warmer world.

The EACC study, funded by the Governments of the Netherlands, Switzerland and the United Kingdom, has two broad objectives. The first is to develop an estimate of the global costs of adaptation in developing countries. The second is to help decision makers in developing countries to better understand and assess the risks posed by climate change and to better design strategies to adapt to climate change, particularly keeping the most vulnerable communities in focus. A second report, based on seven country case studies, will be produced by the first half of 2010, focusing on the second objective. [The study website] [World Bank press release]

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