CLIMADA – Economics of Climate Adaptation

Using state-​of-the-art probabilistic modelling, CLIMADAcall_made allows to estimate the expected economic damage as a measure of risk today, the incremental increase from economic growth and the further incremental increase due to climate change (see infograph below). The economics of climate adaptation methodology as implemented in CLIMADAcall_made provides decision makers with a fact base to understand the impact of weather and climate on their economies, including cost/benefit perspectives on specific risk reduction measures. The model is well suited to provide an open and independent view on physical risk, in line with e.g. the TCFD (Task Force for Climate-​related Financial Disclosure), and underpins the Economics of Climate Adaptation (ECA) approach.

As of today, CLIMADA provides global coverage of major climate-​related extreme-​weather hazards at high resolution via a data API, namely (i) tropical cyclones, (ii) river flood, (iii) agro drought and (iv) European winter storms, all at 4km spatial resolution – wildfire to be added soon. For all hazards, historic and probabilistic event sets exist, for some also under select climate forcing scenarios (RCPs) at distinct time horizons (e.g. 2040).