AECOM Technical Report
Traditionally, development policies and activities have been based on our understanding of the historical climate. Continuing to develop and implement projects without recognising the implications of the changing climate can result in substantial economic and social costs. To cost-effectively respond to climate change and other development challenges, decision makers require robust information and analysis to select the most appropriate adaptation options. Cost Benefit Analysis (CBA) is a framework that builds on information gathered from the investigation of climate change risks (including for example information on potential losses and damages) and on the same platform brings in the benefits and costs of adaptation options to manage identified risk. This allows evaluation of adaptation options in an objective and reliable way that also considers impacts on a community over time.