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 Recent Projects and Publications







Paul Watkiss Associates specialises in academic research and policy support for government and public sector organisations on the economics of climate change and adaptation policy. 

Recent projects and publications are presented below.


Economic Impacts of Climate Change / Costs and Benefits of Adaptation



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:

  • Long-term targets and mitigation policies.
  • Costs of inaction (the economic effects of climate change).
  • Costs and benefits of adaptation.

Paul is the Research Director of the project. Details of the project and publications are available at - www.climatecost.cc


Climate Change Risk Assessment (CCRA) / Adaptation Economic Assessment (AEA) - UK Department for Environment Food and Rural Affairs (Defra).

The Climate Change Risk Assessment is drawing together the evidence and analysis on the risks posed by climate change for the UK . 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 the AEA.


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: ADAPTCost Project: Analysis of the Economic Costs of Climate Change Adaptation in Africa - United Nations Environment Programme (UNEP).

The AdaptCost project investigated and built the evidence based on the costs of adaptation in Africa . The project undertook a detailed review of the estimated economic costs of adaptation in Africa , investigating several lines of evidence, and commissioning new model runs or sector analysis. The project summary (Watkiss et al, 2010) can be downloaded at - hqweb.unep.org/pdf/SEI.pdf


Economics of Climate Change in East Africa ( Kenya , Rwanda , Tanzania ). Impacts and EconomicCosts, Costs and Benefits of Adaptation, Low Carbon Growth - DFID.

These 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, rwanda.cceconomics.org, economics-of-cc-in-tanzania.org

The project summaries for Tanzania and Kenya 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, economics-of-cc-in-tanzania.org/images/Final_summary_vs_1_1_.pdf


Costs 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 Europe .  The report (Watkiss et al, 2007) is available at - reports.eea.europa.eu/technical_report_2007_13/en



Social Costs of Carbon / Climate Policy


The 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 UK . 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 UK Policy.  Integrated Assessment Journal.  Vol. 8, Iss. 1 (2008), Pp. 85–105. Available at - journals.sfu.ca/int_assess/index.php/iaj/article/view/272

More recent reviews are available in the academic publications list below.


Review of the various methodological approaches available for setting UK carbon budgets - Climate Change Committee. 

This project advised the UK shadow Committee on Climate Change on methodological approaches for setting long-term and intermediate carbon reduction targets for the UK , 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


Air Quality Externalities

Paul has expertise in air quality externalities and use in policy in the UK and Europe .

This includes work for Defra developing damage costs, as well work undertaking expert support and Monte Carlo analysis for the IGCB Economic Assessment of the UK Air Quality Strategy.

For damage costs, see

For the Monte Carlo analysis, see Watkiss and Holland (2008), Annex 7 at - archive.defra.gov.uk/environment/quality/air/airquality/publications/stratreview-analysis/annexes-icgb.pdf

For a summary of the application of the CAFE cost-benefit analysis in Europe , see

2005-7.  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 for the UK .  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 


Recent 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

Juan-Carlos 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 EUROPE . PNAS. Proceedings of the National Academy of Sciences.  Physical Sciences - Environmental Sciences. PNAS January 31, 2011. www.pnas.org/cgi/doi/10.1073/pnas.1011612108

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: 10.1007/s10584-010-9975-6.

Watkiss P (2011) Monetary valuation of greenhouse gases. In: Nriagu JO (ed.) Encyclopedia of Environmental Health, volume 3, pp. 847–855 Burlington : Elsevier.

Neufeldt, H., Jochem, E., Hinkel, J., Huitema, D., Massey, D., Watkiss, P., McEvoy, D., Rayner, T., Hof , 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.  Published by Cambridge University Press. 2010. 




















Links:  www.PaulWatkiss.co.uk  www.economicsrevealed.co.uk  www.A8creative.co.uk