Beyond cost-benefit: developing a complete toolkit for adaptation decisions

This briefing aims to help choosing from a variety of evaluation methods in order to support adaptation decisions that promote equity, put local people in control and allow for dynamic responses to climate change as it unfolds. It describes (i) the benefits of traditional cost-benefit assessments of adaptation plans, such as steadier agricultural yields, reduced loss of lives, access to markets and gains in local knowledge; (ii) the common issues challenging traditional cost-benefit analysis; and (iii) the key needs in community adaptation planning. It then introduces (iv) the different tools and uses of cost-benefit analysis; and (v) calls for the Nairobi Work Programme to assess the full range of economic decision tools through a 'toolkit' designed to help a diverse audience choose appropriate valuation methods for their needs.