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The Effect of Proactive Adaptation on GreenInvestment

Climate change is one of the greatest challenges facing our planet in the foreseeable future anddespite the urgency of the situation global GHG emissions are still increasing. In this context,and since future climate changes appear now unavoidable to some extent, adaptation measureshave recently gai... Full description

Year of Publication: 2011-06-09
Authors: Bahn, Olivier; Chesney, Marc; Gheyssens, Jonathan
Institutions: National Centre of Competence in Research - Financial Valuation and Risk Management
Physical Description: 339968 bytes
33 p.
application/pdf
Series: FINRISK Working Paper Series
Working Paper No. 708
Language: English
Subjects: Investition | investition | Klimaänderung | climate change | changement climatique | Anpassung | Umwelttechnik | Konjunkturabschwung | decline
Business Studies: Strategic management
Management of environmental resources
Financial theory
Resource type: Individual Working Papers, Preprints
Countries (by topic): No country specification
Type of Publication: Book / Working Paper
Title record from database: USB Cologne (business full texts)
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Summary: Climate change is one of the greatest challenges facing our planet in the foreseeable future anddespite the urgency of the situation global GHG emissions are still increasing. In this context,and since future climate changes appear now unavoidable to some extent, adaptation measureshave recently gained a new political momentum as an important component of climate policies.Contrary to mitigation options, adaptation measures do not reduce emission levels but reducetheir impacts. To assess the relationship and effects on the global economy of both mitigationand adaptation, we use in this paper an integrated assessment model (IAM) that includes bothproactive adaptation strategies and access to “green” investments (clean technologies) for mitigation.We find that the relationship between adaptation and mitigation is complex and largelydependent on their respective attributes, with weakly effective adaptation acting as a late complementto mitigation efforts. As its effectiveness increases, adaptation becomes more and morea substitute for mitigation. Sensitivity analysis on the potential magnitude of damages also indicatesthat scientific efforts to better describe GHG impacts will have immediate and importantconsequences on the sequence of mitigation and adaptation strategies.[...]
Physical Description: 339968 bytes
33 p.
application/pdf

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