Climate Response: Costs and Financing

Catalog description

Already communities are being impacted by a changing climate: the flooding of communities along the Eastern Seaboard and Gulf Coast due to sea-level rise, the long-term droughts in the South and Upper Midwest, the wildfires and subsequent landslides in the West and the hospitalization and associated deaths from extreme temperatures in cities due to extreme temperatures. In responding to such climate-mediated impacts there are three leading criteria in choosing a response strategy: effectiveness of any specific recommendation, ease of implementation and costs. This module focuses on the associated costs analyses that should accompany any on-the-ground response to projected climate impacts. Marginal cost analysis will be covered, as well as dollar-based valuation approaches, including avoided damage costs, replacement costs and substitution costs. The issue of financially discounting the future in light of inaction will be addressed. Finally, funding sources and financing strategies will be introduced.