Economic valuation for policy support in the context of ecosystem-based adaptation to climate change: An indicator, integrated based approach

Laura Onofri; Paulo A L D Nunes

doi:10.1016/j.heliyon.2020.e04650

Economic valuation for policy support in the context of ecosystem-based adaptation to climate change: An indicator, integrated based approach

Heliyon. 2020 Aug 21;6(8):e04650. doi: 10.1016/j.heliyon.2020.e04650. eCollection 2020 Aug.

Authors

Laura Onofri¹, Paulo A L D Nunes²

Affiliations

¹ TESAF - Department of Land, Agriculture, Environment, Forestry, University of Padova, Viale dell'Università, 16, 35020 Legnaro, PD, Italy.
² Office of the Assistant Director-General, Climate, Biodiversity, Land and Water Department, Food and Agriculture Organization of the United Nations, Viale delle Terme di Caracalla - 00153 Rome, Italy.

Abstract

Ecosystem-based adaptation (EbA) includes a set of natural capital-based measures to adapt to climate change. UN Environment has called for measuring EbA costs and benefits before promoting the adoption of such a policy. Within such policy input, the paper objective is twofold. It first performs a critical survey of economic and valuation studies that measure the costs and benefits of undertaking EBA measures. It then proposes an integrated valuation approach, based on a set of 54 economic indicators that include ecological aspects and encompass the technical, financial and academic difficulties to perform thorough cost-benefit exercises, by providing policymakers with simple, though rigorous evidence.

Keywords: Climate change; Cost-benefit analysis; Economic indicators; Economic valuation; Economics; Ecosystem based adaptation (EBA); Environmental policy; Environmental science.