Publications and Reports
Economic costs of heat and flooding in cities (2015)
Description
The overall aim of this report is to set out a transferable method for generating data on the economic costs of climate change impacts in cities. City-wide costs were generated for London, Antwerp and Bilbao, the three core case study cities of the RAMSES project. In this report, an economic cost methodology is developed through which the costs of various climate change hazards, acting through different channels, can be evaluated. The focus is on the effect a climate hazard has on inputs of the production activity – for example, by decreasing capital or labour levels, or reducing their productivity – to work out the overall effect to urban production. By focusing on one hazard and one channel through which it affects costs at a time, the model remains tractable, which facilitates the interpretation of the results. This is vital for identifying the most effective climate change adaptation strategies.