CLIMADA (CLIMate ADAptation) is an open-source analytical tool designed to assess physical risks and formulate effective adaptation strategies in response to climate change.
It sits at the core of the stakeholderinclusive Economics of Climate Adaptation (ECA) framework to provide science-based support for decisionmaking and investment in adaptation. It evaluates the cost-effectiveness of various adaptation measures to identify strategies that effectively mitigate future impacts on infrastructure, agriculture, and other vital sectors, which facilitates informed resource allocation and can enhance climate resilience.
- The Munich Climate Insurance Initiative (MCII e.V.) uses the ECA framework and CLIMADA to determine climate risks faced by the populations and countries most exposed to increasing impacts of climate change, and to identify, quantify, and suggest measures to close the protection gap.
- In applying the model, significant stakeholder engagement and knowledge transfer is helpful, including for independent future applications of the model.
For Ministries of Finance, CLIMADA can aid proactive financial planning and risk management by quantifying the economic impacts under various climate and socioeconomic scenarios. Documentation is available here: https://climada-python.readthedocs.io/en/stable/.
Keywords
adaptationfiscal riskmodelsopen-sourcerisk management
