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Full Costs of Climate Change

Full Costs of Climate Change

Objective

There is increasing interest in the economics of climate change to inform policy on a) long-term targets, b) the costs of inaction (the economic effects of climate change), and c) the costs and benefits of adaptation. The objectives of this study are to advance knowledge across all three areas, i.e. the full economic costs of climate change, through the following tasks: 1. To identify and develop consistent climate change and socio-economic scenarios, including mitigation scenarios; 2. To quantify in physical terms, and economic costs, the ‘costs of inaction’ for these scenarios, with bottom-up disaggregated (spatial) modelling for market and non-market sectors (coasts, health, ecosystems, energy, water, infrastructure) in the EU and other major negotiator countries (US, China, India). To extend analysis to quantify and value the costs and benefits of adaptation, and the residual costs of climate change’ after adaptation. 3. To asses the physical effects and economic damages of a number of the most important major catastrophic events and major socially contingent effects. 4. To update the mitigation costs of GHG emission reductions for medium and long-term reduction targets/ stabilisation goals. To include (induced) technological change, non CO2 GHG and sinks, and recent abatement technologies. 5. To quantify the ancillary air quality benefits of mitigation, using a spatially detailed dis-aggregated approach to quantify in physical terms and monetary benefits, in Europe and major negotiator countries. 6. To apply a number of complementary CGM and IAM models to incorporate the information from the tasks above. 7. To bring all the information above together to provide policy relevant output, including information on physical effects and economic values, and undertake analysis of policy scenarios. The project involves a multi-disciplinary team with leading impact and economic experts. It is innovative in developing bottom-up and top-down analysis within consistent scenarios and a single integrated framework, providing highly dis-aggregated outputs on impacts and economic costs.
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Coordinator

SEI OXFORD OFFICE LIMITED*STOCKHOLMENVIRONMENT INSTITUTE OXFORD OFFICE SEI LTD

Address

Banbury Road 266
Ox2 7dl Oxford

United Kingdom

Activity type

Private for-profit entities (excluding Higher or Secondary Education Establishments)

EU Contribution

€ 365 891

Administrative Contact

Ruth Butterfield (Dr.)

Participants (21)

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JRC -JOINT RESEARCH CENTRE- EUROPEAN COMMISSION

Belgium

EU Contribution

€ 359 200

DANMARKS METEOROLOGISKE INSTITUT

Denmark

EU Contribution

€ 203 645

POTSDAM INSTITUT FUER KLIMAFOLGENFORSCHUNG

Germany

EU Contribution

€ 193 703

UNIVERSITY OF SOUTHAMPTON

United Kingdom

EU Contribution

€ 185 000

FONDAZIONE ENI ENRICO MATTEI

Italy

EU Contribution

€ 200 400

INTERNATIONALES INSTITUT FUER ANGEWANDTE SYSTEMANALYSE

Austria

EU Contribution

€ 167 133

METROECONOMICA LIMITED

United Kingdom

EU Contribution

€ 265 251

INSTITUTE OF COMMUNICATION AND COMPUTER SYSTEMS

Greece

EU Contribution

€ 99 999

KATHOLIEKE UNIVERSITEIT LEUVEN

Belgium

EU Contribution

€ 99 999

AEA TECHNOLOGY PLC

United Kingdom

EU Contribution

€ 100 000

UNIVERSIDAD POLITECNICA DE MADRID

Spain

EU Contribution

€ 180 064

PAUL WATKISS ASSOCIATES LTD

United Kingdom

EU Contribution

€ 245 762

ECONOMIC AND SOCIAL RESEARCH INSTITUTE

Ireland

EU Contribution

€ 174 999

LONDON SCHOOL OF HYGIENE AND TROPICAL MEDICINE ROYAL CHARTER

United Kingdom

EU Contribution

€ 125 161

ZEW - LEIBNIZ-ZENTRUM FUR EUROPAISCHE WIRTSCHAFTSFORSCHUNG GMBH MANNHEIM

Germany

EU Contribution

€ 92 970

PANEPISTIMIO AIGAIOU

Greece

EU Contribution

€ 30 000

UNIVERSITY OF EAST ANGLIA

United Kingdom

EU Contribution

€ 108 602

UNIVERZITA KARLOVA

Czechia

EU Contribution

€ 39 999

THE ENERGY AND RESOURCES INSTITUTE

India

EU Contribution

€ 55 956

NATIONAL DEVELOPMENT AND REFORM COMMISSION ENERGY RESEARCH INSTITUTE

China

EU Contribution

€ 56 260

UNIVERSITE PIERRE MENDES FRANCE

France

EU Contribution

€ 150 000

Project information

Grant agreement ID: 212774

Status

Closed project

  • Start date

    1 December 2008

  • End date

    31 July 2011

Funded under:

FP7-ENVIRONMENT

  • Overall budget:

    € 4 605 603

  • EU contribution

    € 3 499 994

Coordinated by:

SEI OXFORD OFFICE LIMITED*STOCKHOLMENVIRONMENT INSTITUTE OXFORD OFFICE SEI LTD

United Kingdom