Economic Impacts of Climate Change and Costs of Adaptation for the City of Hamburg (Hamburg)

In light of the growing importance of climate change adaptation, the project objectives are to assist the City of Hamburg in the preparation of their adaptation strategy to climate change. Adaptation to climate change must be decided and implemented mainly on the regional and local level. An economic evaluation of possible climate change adaptation measures is essential to their implementation. In times of limited public and private budget, only cost-effective measures can be implemented. In this project, the current knowledge on the economic evaluation of climate change costs and of the costs and benefits of adaptation measures is presented and, to the extent possible, applied to Hamburg. In addition, several cost-benefit analyses of adaptation measures at the local level were also prepared. Based on this economic analysis, recommendations for the implementation of adaptation measures can be developed. Within the project, Ecologic Institute, together with the project coordinator Hamburg Institute of International Economics (HWWI), analyzed the economic costs and benefits of climate change and appropriate adaptation measures to climate change in priority sectors.