Climate change will have dramatic implications for how countries manage their economies, care for their people and design their development paths. Countries will need to adopt measures to adapt to climate change. These measures offer a way to make the effects of climate change less disruptive and spare the poor and the vulnerable from shouldering an unduly high burden.
Against this backdrop, the global community adopted the Bali Action Plan at the 2007 United Nations Climate Change Conference. The plan calls for developed countries to allocate “adequate, predictable, and sustainable financial resources and new and additional resources, including official and concessional funding for developing country parties” to help them adapt to climate change.
How high will the price tag be? The objectives of the present report are twofold: to develop a global estimate of adaptation costs for informing the international community’s efforts in the climate negotiations, and to help decision-makers in developing countries assess the risks posed by climate change and design national strategies for adaptation.
Source: Economics of Adaptation to Climate Change. Synthesis Report. The International Bank for Reconstruction and Development/The World Bank. 2010.