Costs of Climate Change Impacts in Germany
Project description:

Climate change has arrived in Germany – noticeably and evidently. This results inter alia in economic losses due to crop failures, repair costs of infrastructure damages and increasing health expenditures. Yet, climate change damages and adaptation costs are so far significantly less explored than avoidance of greenhouse gases or the economic impacts of climate protection measures.
Against this background, the project “Costs of Climate Change Impacts in Germany” conducts an exploratory, systematic and comprehensive analysis and estimation of follow-up costs for the German economy. Beside the costs of climate damages due to extreme weather, events as well as the gradual progress of climate change (i.e. damage costs), this includes the costs of adaptive measures (i.e. adaptation costs). The damage and adaptation costs are estimated using the macroeconometric model PANTA RHEI. A detailed mapping of effects at the sectoral level is combined with macroeconomic estimates.
The overall objective is to make the dimensions of past and future costs of climate change visible and to discuss the findings with societal actors. Based on reliable data and information, comprehensible conclusions can be drawn about the distribution of risks and costs along various spatial, sectoral and social dimensions, and the relevance of individual climate impact chains can be highlighted.

Contracting entity:
Federal Ministry for the Environment, Nature Conservation and Nuclear Safety (BMU)
Cooperation partner:
Institute for Ecological Economy Research (IÖW), Prognos AG