Economic Analysis of Climate-Proofing Investment Projects

Asian Development Bank (adb), Asian Development Bank (adb) (), Asian Development Bank (adb) and Asian Development Bank (adb)
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Asian Development Bank (adb): Sustainable Development and Climate Change Department, ADB
Asian Development Bank (adb): Sustainable Development and Climate Change Department, ADB

No RPT157588-2, ADB Reports from Asian Development Bank (ADB)

Abstract: Climate change represents an increasing threat to the continued development of the people, preservation of ecosystems, and economic growth of Asia and the Pacific. Mainstreaming climate risk management in all aspects of development is thus key to an effective transition to climate-resilient development pathways. ADB’s climate risk management framework aims to reduce risks resulting from climate change to investment projects in Asia and the Pacific. A key step in this framework is the technical and economic valuation of climate-proofing measures. This report describes the conduct of the cost-benefit analysis of climate proofing investment projects. An important message is that the presence of uncertainty about climate change does not invalidate the conduct of the economic analysis of investment projects, nor does it require a new type of economic analysis. However, the presence of uncertainty does require a different type of decision-making process in which technical and economic expertise combine to present decision makers with the best possible information on the economic efficiency of alternative designs of investment projects.

Keywords: adb projects; asia; pacific; climate change; climate-proofing; risk analysis; climate risks; economic analysis; project design; project implementation; climate risk resilience; infrastructure development; adaptation costs; cost–benefit analysis; risk management; adaptation; economic analysis (search for similar items in EconPapers)
Pages: 91 pages
Date: 2015-09
New Economics Papers: this item is included in nep-agr, nep-env, nep-ppm and nep-sea
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