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Accelerating climate adaptation: A framework for assessing and addressing adaptation needs and priorities

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  • OECD

Abstract

Global temperatures continue to rise despite strengthened climate mitigation efforts, increasing the likelihood of climate disasters and posing significant risks to economies. The physical risks from climate change threaten public finances, investment, inflation, international trade, and overall economic growth, underscoring the urgent need for effective climate adaptation. This paper offers several considerations for designing and implementing effective climate change adaptation strategies and policies. Specifically, it develops a practical multi-step framework that can be used to integrate adaptation into broader economic policy, consisting of three key steps: (1) identifying climate-related risks and impacts, (2) identifying adaptation actions, (3) planning and implementing adaptation. Additionally, the paper highlights various technical and institutional tools to facilitate effective adaptation, thereby promoting resilience in the face of escalating climate challenges.

Suggested Citation

  • Oecd, 2024. "Accelerating climate adaptation: A framework for assessing and addressing adaptation needs and priorities," OECD Economic Policy Papers 35, OECD Publishing.
    • Handle: RePEc:oec:ecoaab:35-en
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    More about this item

    Keywords

    adaptation policies; Climate change; climate risks; economic impacts of climate risks; national adaptation plans;
    All these keywords.

    JEL classification:

    • D81 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Criteria for Decision-Making under Risk and Uncertainty
    • O44 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Environment and Growth
    • Q54 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Climate; Natural Disasters and their Management; Global Warming
    • Q58 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Environmental Economics: Government Policy
    • R58 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Regional Government Analysis - - - Regional Development Planning and Policy

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