Watkiss Associates specialises in academic research
and policy support for government and public sector
organisations on the economics of climate change and
projects and publications are presented below.
Impacts of Climate Change / Costs and Benefits of
ClimateCost (the Full Costs of Climate Change) is a
major research project on the economics of climate change,
funded from the European Community's Seventh Framework
Programme. The objective of the project is to advance knowledge in three areas:
targets and mitigation policies.
of inaction (the economic effects of climate change).
and benefits of adaptation.
Paul is the Research Director of the project. Details of
the project and publications are available at -
Change Risk Assessment (CCRA) / Adaptation Economic
Environment Food and Rural Affairs (Defra).
Climate Change Risk Assessment is drawing together the
evidence and analysis on the risks posed by climate change
. It is also being accompanied by an additional Adaptation
Economic Assessment, which will estimate the costs and
benefits adaptation overall and outline options.
Paul led the scoping study on the CCRA/AEA and is involved
in the valuation of CCRA risks and method development for
Potential costs and benefits of adaptation options: A review of existing
literature. Technical paper - UNFCCC
This technical paper – jointly authored by Anil
Markandya and Paul Wakiss - reviewed the methodological
issues and current state of evidence on the costs and
benefits of adaptation.
The report is available at - unfccc.int/resource/docs/2009/tp/02.pdf
ADAPTCost Project: Analysis of the Economic Costs of Climate Change
Nations Environment Programme (UNEP).
The AdaptCost project investigated and built the evidence
based on the costs of adaptation in
. The project undertook a detailed review of the estimated
economic costs of adaptation in
, investigating several lines of evidence, and
commissioning new model runs or sector analysis. The
project summary (Watkiss et al, 2010) can be downloaded at
of Climate Change in East Africa (
). Impacts and
Costs and Benefits of Adaptation, Low Carbon Growth
studies assessed the impacts of climate change, the costs
and benefits of adaptation, and the economics of Low
Carbon Growth in three East African countries,
using a combination of bottom-up and top down assessments.
Further information is available at - kenya.cceconomics.org,
The project summaries for
studies (Watkiss et al, 2009: Watkiss et al, 2011) are
available at the following sites - kenya.cceconomics.org/kedo/kenya-final-main-report-3-12-2009-summary.pdf,
of Inaction and Costs of Adaptation -
European Environment Agency.
This study investigated the methodological issues with the
costs of climate change and the costs of adaptation, and
reported on the state of impacts and economic costs from
climate change in
. The report (Watkiss
et al, 2007) is available at - reports.eea.europa.eu/technical_report_2007_13/en
Costs of Carbon / Climate Policy
Social Cost of Carbon
Paul has undertaken a large number of studies on the
Social Cost of Carbon, and the use of these values and
aggregate economic estimates in policy, with a particular
focus in the
. A summary of earlier work is available as:
Watkiss, P and Downing, T (2008). The Social Cost of
Carbon: Valuation Estimates and Their Use in
Assessment Journal. Vol.
8, Iss. 1 (2008), Pp. 85–105. Available at -
More recent reviews are available in the academic
publications list below.
of the various methodological approaches available for
carbon budgets - Climate
project advised the
shadow Committee on Climate Change on methodological
approaches for setting long-term and intermediate carbon
reduction targets for the
, towards stabilization.
The report (Watkiss et al, 2008) is available at - www.theccc.org.uk/pdfs/Draft%20Final%20Report%20vs%206%20%282%29.pdf
Paul has expertise in air quality externalities and use in
policy in the
includes work for Defra developing damage costs, as well
work undertaking expert support and
analysis for the IGCB Economic Assessment of the UK Air
For damage costs, see
For the Monte Carlo analysis, see Watkiss and
(2008), Annex 7 at - archive.defra.gov.uk/environment/quality/air/airquality/publications/stratreview-analysis/annexes-icgb.pdf
a summary of the application of the CAFE cost-benefit
Defra / IGCB Air
Quality Strategy Review: Air Quality Monetisation.
Expert advisor on the Economic Analysis (IGC) of
the Defra Air Quality Strategy Review, providing input and
analysis on the quantification and valuation of health
benefits for the analysis of future air quality policies
. The work was
published by the Defra-led Interdepartmental Group on
Costs and Benefits (IGCB) and accompanies the Air Quality
Strategy, July 2007 - www.defra.gov.uk/environment/airquality/publications/stratreview-analysis/index.htm
Academic Publications (2011)
Watkiss, P. (2011). Aggregate
economic measures of climate change damages: explaining
the differences and implications. WIREs Climate Change.
2011 DOI: 10.1002/wcc.111
Ciscar, Ana Iglesias, Luc Feyen, László Szabó, Denise
van Regemorter, Bas Amelung, Robert Nicholls, Paul Watkiss,
Ole B. Christensen, Rutger Dankers, Luis Garrote, Clare M.
Goodess, Alistair Hunt, Alvaro Moreno, Julie Richards, and
Antonio Soria (2011). Physical and Economic Consequences
of Climate Change in
. PNAS. Proceedings
of Sciences. Physical
Sciences - Environmental Sciences. PNAS January 31, 2011.
Hunt, A., and Watkiss, P. (2011). Climate change impacts
and adaptation in cities: a review of the literature.
Climatic Change. Special
Issue: Understanding Climate Change Impacts, Vulnerability
and Adaptation at City Scale.
Volume 104, Number 1 (2011), 13-49, DOI:
Watkiss P (2011) Monetary valuation of greenhouse gases.
In: Nriagu JO (ed.) Encyclopedia of Environmental Health,
volume 3, pp. 847–855
Jochem, E., Hinkel, J., Huitema, D., Massey,
D., Watkiss, P., McEvoy, D., Rayner, T.,
, A. and Lonsdale, K. (2010). Climate policy and
inter-linkages between adaptation and mitigation. Chapter
1. In. Making
Climate Change Work for Us.
European perspectives of adaptation and mitigation
strategies (ADAM). Editors:
Mike Hulme and Henry Neufeldt.