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Posted Wed Sep 2 2009: from Environmental Research Web:
Climate-adaptation costs are three times higher than estimated
The costs of adapting to climate change could be at least two to three times higher than predicted by the UN Framework Convention on Climate Change (UNFCCC). The underestimate has implications for the international climate negotiations coming up in Copenhagen in December... "The reason [for the underestimate] is they didn't include a number of very important sectors that are likely to be impacted by climate change -- industry, energy mining, retailing -- about a half of the world's economy," Martin Parry of the Grantham Institute for Climate Change at Imperial College London told BBC Radio 4's Today programme.... For example, the UNFCCC estimate of $11 billion for the water sector did not include the cost of adapting to floods and assumes no costs for transferring water within nations from areas of surplus to areas of deficit. And the figure of $8130 billion for infrastructure adaptation assumed a low level of investment in infrastructure in Africa and other relatively poor areas. If this is not the case, adapting the upgraded infrastructure to climate change could be eight times more costly.
[Read more stories about: rising sea level, weather extremes, climate impacts]

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