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The Economics of Climate-Resilient Development

The Economics of Climate-Resilient Development

Edited by Sam Fankhauser, Grantham Research Institute on Climate Change, London School of Economics, UK and Thomas K.J. McDermott, School of Economics, University College Cork, Ireland
Some climate change is now inevitable and strategies to adapt to these changes are quickly developing. The question is particularly paramount for low-income countries, which are likely to be most affected. This timely and unique book takes an integrated look at the twin challenges of climate change and development. The book treats adaptation to climate change as an issue of climate-resilient development, rather than as a bespoke set of activities (flood defences, drought plans, and so on), combining climate and development challenges into a single strategy. It asks how the standard approaches to development need to change, and what socio-economic trends and urbanisation mean for the vulnerability of developing countries to climate risks. Combining conceptual thinking with practical policy prescriptions and experience the contributors argue that, to address these questions, climate risk has to be embedded fully into wider development strategies

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Extent: 256 pp
Hardback Price: £75.00 Web: £67.50
Publication Date: 2016
ISBN: 978 1 78536 030 5
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  • Economics and Finance
  • Development Economics
  • Environmental Economics
  • Environment
  • Climate Change
  • Environmental Economics

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Some climate change is now inevitable and strategies to adapt to these changes are quickly developing. The question is particularly paramount for low-income countries, which are likely to be most affected. This timely and unique book takes an integrated look at the twin challenges of climate change and development.

The book treats adaptation to climate change as an issue of climate-resilient development, rather than as a bespoke set of activities (flood defences, drought plans, and so on), combining climate and development challenges into a single strategy. It asks how the standard approaches to development need to change, and what socio-economic trends and urbanisation mean for the vulnerability of developing countries to climate risks. Combining conceptual thinking with practical policy prescriptions and experience the contributors argue that, to address these questions, climate risk has to be embedded fully into wider development strategies. This point of view is gaining in prominence in the development community; however, the contributors assert that a comprehensive analytical treatment is so far lacking.

This unique and innovative book will appeal to the development community, such as think tanks and aid agencies, as well as academics and those involved in climate change policy and development.

Critical Acclaim

‘An extremely timely book. The Paris Climate Agreement establishes a global goal on adaptation of enhancing adaptive capacity, strengthening resilience and reducing vulnerability to climate change. The book addresses the key question of how such a goal could be achieved by arguing that adaptation and resilience cannot be separated from ongoing and dynamic development processes. Although written from an economics perspective it draws on a wide range of literatures and experiences and is eminently readable. Indeed, it should be read not only by students of development and planning but also by practitioners, in both the public and private sectors, whose development choices will affect future vulnerabilities to climate change.’
– Dame Judith Rees, London School of Economics, UK

‘The key contribution of this book is to highlight the fact that adaptation to climate change – or climate-resilient development – must be seen in a dynamic context over a long time period. ‘Transformational’ adaptation recognises that countries are undergoing rapid socio-economic transformation independently of climate change. It takes a long-term perspective on investment decisions, recognising the many uncertainties associated with the impact of climate change. The book challenges conventional ways of thinking and also provides many practical examples of how to do things better.’
– Simon Maxwell CBE, Executive Chair, Climate and Development Knowledge Network

‘This book brings much-needed nuance and evidence to the complicated relationship between vulnerability and climate change – a must-read for all interested in climate and development.’
– Richard S.J. Tol, University of Sussex, UK and Vrije Universiteit Amsterdam, the Netherlands

‘Fankhauser and McDermott show how to construct more climate resilient economies, the politics which lie behind choices made, and design of pathways to transformation if people are to manage and prosper in the difficult years ahead.’
– Camilla Toulmin, International Institute for Environment and Development (IIED), UK

‘The impacts of climate change can appear remote when compared with such immediate problems as poverty, disease and economic stagnation. Yet, climate change can directly affect the achievement of many development objectives. How development occurs also has implications for the vulnerability of societies to the impacts of climate change. In providing a “deep dive” into the nexus between adaptation to climate change and economic development this volume makes a valuable contribution to the literature. Furthermore, it also provides timely guidance to policy practitioners on how to make climate resilient development a reality.’
– Shardul Agrawala, OECD, France

Contributors

Contributors: M. Bangalore, M. Bezabih, L. Bonzanigo, D. Castells-Quintana, H. Costa, M. del Pilar Lopez-Uribe, S. Dietz, C. Dixon, S. Fankhauser, M. Fay, J. Finnegan, G. Floater, S. Hallegatte, A. Hunt, T. Kane, S. Lovo, T.K.J. McDermott, C. McLaren, U. Narloch, J. Rozenberg, G. Singer, S. Surminski, D. Treguer, A. Vogt-Schilb, M. Waldinger, J. Ward, P. Watkiss

Contents

Contents

1. Climate-Resilient Development: An Introduction
S. Fankhauser and T. McDermott

PART I CONCEPTS
2. The Role of Climate in Development
D. Castells-Quintana, M. del Pillar Lopez-Uribe and T.K.J. McDermott

3. Poverty and Climate Change
S. Hallegatte, M. Bangalore, L. Bonzanigo, M. Fay, T. Kane, U. Narloch

4. Coping with Climate Risk: The Options
D. Castells-Quintana, M. del Pilar Lopez-Uribe and T.K.J. McDermott

5. Locking in Climate Vulnerability: Where are the Investment Hotspots?
S. Dietz, C. Dixon and J. Ward

6. Assessing Climate-resilient Development Options
P. Watkiss and A. Hunt

PART II ACTIONS
7. Adaptation Experience and Prioritisation
P. Watkiss

8. Climate-resilient Cities
H. Costa, G. Floater and J. Finnegan

9. Climate-resilient Development in Agrarian Economies
M. Bezabih, S. Lovo, G. Singer and C. McLaren

10. Insurance Instruments for Climate-resilient Development
S. Surminski

11. Migration and Climate-resilient Development
M. Waldinger

Index