The Economics of Adaptation to Climate Change in a Complex World
The American Red Cross is funding ISET for the development of a five-year collaborative program to consolidate methodologies and generate evidence on the costs and benefits of adaptation-focused disaster risk reduction as a major strategy for addressing the impacts of climate change on vulnerable populations in Nepal and Vietnam. Insights from these two field locations will be scaled to support the ultimate objective of the program, which is assisting vulnerable communities in adapting to climate change through the identification and implementation of interventions that reduce risks and support adaptation to climate related disasters.

The program will: (1) demonstrate the economic viability of investing in adaptation-focused disaster risk reduction in specific urban and rural case situations; (2) increase awareness among key decision-making entities that investments in adaptation-focused disaster risk resilience are solid public investments; and (3) strengthen the methodological basis for evaluating the costs and benefits of adaptation-focused disaster risk reduction.