An early task in the ACCREU project was to undertake a detailed review of the economic costs of climate change in Europe, as well as the costs and benefits of adaptation. The review assessed the current state-of-the-art on methods, and the latest estimates of impacts and adaptation, sector-by-sector and at the macro-economic level. This review has been summarised into a short technical policy brief, which is available here.
This ‘stocktake’ found that in recent years there has been a significant improvement in the evidence base on the costs of climate change impacts in Europe. This includes more studies as well as greater coverage across sectors. The review also found that significant progress has been made on the economics of adaptation, though this still lags behind the comparable information on impacts. However, while the evidence has improved, significant gaps remain.
Based on this review, the analysis identified a set of potential research gaps by sector, for both economic impacts and for adaptation, also included in the summary. These priorities were discussed with stakeholders at the first ACCREU policy workshop as part of the early co-design activities on the project.
