Using markets to adapt to climate change

Greenhill, Simon; Hsiang, Solomon; Balboni, Clare; Barrage, Lint; Bolliger, Ian W.; Boomhower, Judson; Diaz, Delavane; Druckenmiller, Hannah; Garg, Teevrat; Hino, Miyuki; Hong, Harrison; Kousky, Carolyn; Martinich, Jeremy; Nath, Ishan; Oremus, Kimberly L.; Park, R. Jisung; Phan, Toan; Proctor, Jonathan; Rafey, Will; Sarofim, Marcus C.; Schlenker, Wolfram; Simon, Benjamin

Using markets to adapt to climate change

Simon Greenhill, Solomon Hsiang, Clare Balboni, Lint Barrage, Ian W. Bolliger, Judson Boomhower, Delavane Diaz, Hannah Druckenmiller, Teevrat Garg, Miyuki Hino, Harrison Hong, Carolyn Kousky, Jeremy Martinich, Ishan Nath, Kimberly L. Oremus, R. Jisung Park, Toan Phan, Jonathan Proctor, Will Rafey, Marcus C. Sarofim, Wolfram Schlenker and Benjamin Simon

LSE Research Online Documents on Economics from London School of Economics and Political Science, LSE Library

Abstract: Even under the most ambitious greenhouse gas emissions mitigation scenarios, climate change will continue to affect human well-being for generations, with the severity of these impacts differing across mitigation pathways. Adapting to climate change is thus a necessary complement to mitigation. Because individuals, businesses, and communities benefit directly from their adaptation choices, the incentives they face as individuals to adapt are generally stronger than the incentives they face to mitigate emissions. Yet evidence to date suggests that communities are not systematically adapting to recent climate changes (1). What can policy-makers do to facilitate adaptation? Here, we draw on a burgeoning field of economic research on climate adaptation to identify when and how markets can be a promising tool for effective and efficient adaptation.

JEL-codes: J1 (search for similar items in EconPapers)
Pages: 3 pages
Date: 2026-02-12
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Published in Science, 12, February, 2026, 391(6786), pp. 662 - 664. ISSN: 0036-8075

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