Assessing the costs of adaptation to climate change: a critique of the UNFCCC estimates
This book takes another look at the costs of adapting to climate change. The estimates for 2030 used by the UN Framework Convention on Climate Change are likely to be substantial under-estimates.
Professor Martin Parry and his co-authors look at the estimates from a range of perspectives, and conclude that: 1) the current cost assessments do not include some key sectors, such as ecosystems, energy, manufacturing, retailing, and tourism; 2) some of the sectors included have been only partially covered in cost estimates; 3) the additional costs of adaptation have sometimes been calculated as ‘climate mark-ups’ against low levels of assumed investment.