Author: Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ), Leibniz Institute for Economic Research Halle (IWH), Gesellschaft für Wirtschaftliche Strukturforschung (GWS)
Year of publication: 2021
Available languages: English
Type of assessment: Comprehensive impact and risk assessment
Details: Assesses the impacts and risks of climate hazards on the national economy and economic risk reduction potential of adaptation options
Format of assessment: Report, Software
Details: Scientific methodology with dashboards for results
Estimated costs for conducting: Costs depending on data availability, model complexity and capacity development needs
Estimated duration of assessment: Minimum 6 months
To be carried out by whom: Multiple actors
Details: Line ministry staff and economic research institutes
Institutional scale of use: National
Details: Possibility to extend to subnational/province level if data available
Assesment to be used by which target audience: State level decision makers
Output: Others (please describe)
Details: Economic assessment of climate risks and adaptation options
Region of origin: Europe
Developed by which sector: Development cooperation, Science
Applied in practice: Yes
Geographic coverage in analysis: Europe, Asia
Details: Georgia, Kazakhstan, Vietnam
Potential geographic coverage: Location specific data is needed as input
Sectors covered: Applicable to sector of interest
Method used: Quantitative model
Description of methodology: Information on damages collected from desk-based review and sector-based stakeholder consultations. Compiled data is then integrated into macroeconomic model.
Risk framework used: AR5
Risk components incorporated: All
Hazards and impacts considered in the assessment: All hazards
Details: Most relevant hazards for a given country
Source of required data: Both
Details: Past and current hazard damages; socioeconomic data from literature review and line ministries; sectoral data from literature review, and sectoral stakeholders
Temporal scale: Current, Forward looking
Participatory elements: Yes
Details: Line ministries identify most relevant economic sectors for assessment
Consideration of interconnectedness and -dependencies of risks: Yes
Details: Macroeconomic model considers and illustrates interconnectedness of economic sectors and associated risks
Adressing uncertainty: Yes
Details: Different scenarios included (inaction, RCP 2.6, RCP 4.5, RCP 8.5, (or related SSPs), adaptation options)
Scope of assessment: Identification of risks, assessment of impacts, identification of adaptation options, priorization of adaptation options, identification of limits to adaptation
Details: Assessment results demonstrate economic benefits of adaptation options and can guide decisionmakers; regular M&E refines model and output
Economic/Non-Economic losses incorporated: Economic
Details: Economic Key Indicators (GDP, Employment, Consumption Expenditures, Imports)
Applicability for entire risk spectrum (from extreme weather events to slow onset processes): Yes
Recommendations for Adaptation measures included in Climate Risk Assessment: Yes
Usefulness for political purposes: Geared towards national-level line ministries to consider model results for long-term economic planning-
Applied by whom: Line ministries and economic research institutes in partner countries
Open access: Only the methodology of the digital tool is open access