New paper on costs of climate change

15 February 2016

As part of our work supporting RAMSES, Hélia Costa and Graham Floater have authored a working paper on the Economic costs of climate change in European cities. The paper sets out a transferable economic cost methodology to assess the impact of specific climatic hazards affecting production in urban areas through various channels. While the impacts of heat on the urban economy are highly variable and depend on characteristics of production, under certain assumptions, in a warm year in the far future (2081-2100), the total losses to the urban economy could range between 0.4% of Gross Value Added (GVA) for London to 9.5% for Bilbao in the absence of adaptation.