A GDP-neutral climate vulnerability index for improved environmental risk assessment and adaptation policy

David Dosso, Imen Ghattassi and Francisco Serranito

No 2026-17, EconomiX Working Papers from University of Paris Nanterre, EconomiX

Abstract: Climate vulnerability indices are widely used to guide environmental planning, climate adaptation strategies, and the allocation of resilience resources. However, many existing indicators are strongly correlated with countries’ levels of economic development, which can blur the distinction between climate risk and income conditions and lead to potentially biased prioritization of adaptation efforts. This study introduces the Climate Vulnerability Neutral (CVN) Index, a transparent and reproducible tool designed to better isolate climate-related vulnerability while maintaining broad sectoral coverage relevant for environmental management. The CVN index is constructed using a systematic selection procedure that retains vulnerability components with limited dependence on GDP per capita while preserving representation across key environmental domains, including food security, water resources, health, ecosystems, habitat, and infrastructure. Using panel data for 158 countries over the period 1995-2023, the results show that economic development explains a substantial share of the variation in widely used vulnerability indicators, whereas its influence on the CVN index is markedly lower. The proposed framework therefore provides a more balanced representation of countries’ exposure and sensitivity to climate hazards across income groups.From a management perspective, the CVN index offers a practical instrument for monitoring vulnerability trends, supporting comparative risk assessments, and improving the targeting of climate adaptation policies. By enhancing the transparency and usability of vulnerability measurement, the index can assist governments and international organizations in designing more effective and evidence-based environmental management strategies.

Keywords: Climate vulnerability; Environmental management; Risk assessment; Adaptation policy; Composite indicators, GDP neutrality (search for similar items in EconPapers)
JEL-codes: C43 Q01 Q54 (search for similar items in EconPapers)
Pages: 53 pages
Date: 2026
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