DECIPHER Webinar #2: The Economics of Coastal Adaptation
On March 12, 2025, the DECIPHER Project hosted its second webinar, “The Economics of Coastal Adaptation,” facilitated by Jonas Haas, Doctoral Researcher, Global Climate Forum (GCF). The speaker delved into advanced research and tools addressing the economic challenges faced by coastal regions amidst rising sea levels and increased flooding.
🔑 Key Takeaways
🏝️ Understanding Coastal Economic Risks
Participants were introduced to the DIVA model, which evaluates economic risks associated with sea-level rise and coastal flooding. Notably, DIVA applies cost-benefit analyses at the level of coastal segments to assess a wide range of adaptation strategies, including protection, retreat, and accommodation, with ongoing developments in nature-based solutions.
🛡️ Coastal Adaptation & Policy Implications
Discussions emphasized that incorporating multiple adaptation options simultaneously tends to yield lower damage estimates. This raises the question of whether models excluding adaptation considerations are beneficial for policymakers. Likewise, the session identified critical gaps in current modeling approaches, particularly the limited representation of economic considerations and social processes. Enhancing the realism of adaptation decisions in models is crucial for providing policymakers with actionable insights.
❓ Q&A and Open Discussion Highlights
The interactive Q&A session further explored these themes, addressing the critical gaps in current modeling approaches and discussing how to represent adaptation decisions more realistically. The wide range of damage estimates in models and their implications for policy were also examined, questioning the usefulness of models that do not consider adaptation and how to frame adaptation to be beneficial for policymakers.
🏆 Final Thoughts
- Adaptation significantly mitigates damage, proving its crucial role in climate resilience.
- Comprehensive modeling is needed to guide effective policy and investment decisions.
- Future models must integrate a broader range of adaptation strategies beyond protection.
This engaging session provided valuable insights for researchers, decision-makers, and stakeholders navigating the complex economics of coastal adaptation.
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