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Weathering climate change: some simple rules to guide adaptation decisions

Fankhauser, Samuel, Smith, Joel B. and Tol, Richard S. J. (1999) Weathering climate change: some simple rules to guide adaptation decisions. Ecological Economics, 30 (1). pp. 67-78. ISSN 0921-8009

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Abstract

This paper discusses some of the elements that may characterise an efficient strategy to adapt to a changing climate. Such a strategy will have to reflect the long time horizon of, and the prevailing uncertainties about, climate change. An intuitively appealing approach therefore seems to be to enhance the flexibility and resilience of systems to react to and cope with climate shocks and extremes, as well as to improve information. In addition, in the case of quasi-irreversible investments with a long lifetime (e.g. infrastructure investments, development of coastal zones), precautionary adjustments may be called for to increase the robustness of structures, or to increase the rate of depreciation to allow for earlier replacement. Many of these measures may already have to be considered now, and could be worthwhile in their own right, independent of climate change considerations.

Item Type: Article
Official URL: http://www.journals.elsevier.com/ecological-econom...
Additional Information: © 1999 Elsevier
Library of Congress subject classification: G Geography. Anthropology. Recreation > GE Environmental Sciences
H Social Sciences > HB Economic Theory
J Political Science > JA Political science (General)
Journal of Economic Literature Classification System: Q - Agricultural and Natural Resource Economics; Environmental and Ecological Economics > Q5 - Environmental Economics > Q54 - Climate; Natural Disasters
Q - Agricultural and Natural Resource Economics; Environmental and Ecological Economics > Q5 - Environmental Economics > Q58 - Government Policy
Sets: Research centres and groups > Grantham Research Institute on Climate Change and the Environment
Collections > Economists Online
Rights: http://www.lse.ac.uk/library/usingTheLibrary/academicSupport/OA/depositYourResearch.aspx
Date Deposited: 07 Dec 2011 09:37
URL: http://eprints.lse.ac.uk/39953/

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