Potential costs and benefits of adaptation options: A review of existing literature

This document first reviews methodological issues for estimating the costs and benefits of adaptation options and next discusses the economics of adaptation in light of the review. Key findings include: the benefits of adopting multiple methods and approaches, including non-monetary ones, in accordance with the objectives of the assessment and the types of adaptation options to be assessed; the need for further methodology development, including in relation to the treatment of uncertainty, economic valuation and equity; and the continued lack of detailed analyses of the costs and benefits of adaptation, including in a form that is relevant to decisions on public funding. Readers may use the information contained in this document as they consider implementing adaptation action. The document is prepared for the parties in the United Nations Framework Convention on Climate Change.