WP3: Methods and metrics for socio-economic evaluation of adaptation strategies including cost-effectiveness
The key objective of this Work Package is to review existing methods and tools to assess the socio-economic aspects of climate change impacts, vulnerability, and particularly adaptation options, and apply these to the case studies. It has strong linkages with WP1 and WP2 but WP3 intends to have a larger emphasis on developing and testing methods.
Particularly, the WP will review the methodological issues on costing for adaptation for both technical and non-technical types of measures. It will develop recommended assessment methods in areas where different approaches are appropriate or applied for adaptation, as well as areas where there are challenges or methodological issues. This will include examples of costing, cost-effectiveness analysis and other wider economic approaches (i.e. formalised CBA). We will focus on cases that are dealing with the most relevant adaptation challenges and options such as in areas of coastal defense, riverine flood protection or coping with prolonged periods of drought and adjustments in rural areas (both for agriculture and nature).
The WP will deliver a set of models, indicators and other tools for assessing adaptation options and a set of examples from the case studies demonstrating the approaches.