The Impacts and Costs of Climate Change Page: vii

                                
The Impacts and Costs of Climate Change
* To undertake scoping studies to assess the potential magnitude of major events, e.g. Greenland ice
sheet, etc. Some preliminary work has been undertaken, but this is a major area for future studies
to focus, both for the timing of events (and relationship with different stabilisation levels) and the
impacts. These are likely to have a major impact on the values.
* Similarly, to progress the understanding of, and potential magnitude of socially contingent
impacts, particularly looking at specific hot-spots such as Africa, Bangladesh, low lying islands.
Finally, a number of additional aspects:
*   To further the analysis of adaptation costs. Both FUND and PAGE include adaptation, and it
would be useful to separate out adaptation and damage costs. It would also be useful to undertake
a wider review and analysis of the literature on adaptation costs.
* Finally, work to bring all the impact and valuation data together in a form useful for policy
analysis (i.e. a multi-analysis framework). We believe that future policy considerations will need
to balance impact analysis, monetary benefits, and work with significant uncertainty and
sensitivity analysis to allow informed decisions. There is a need to develop a framework to
maximise the usefulness of all the information for policy makers.

AEA Technology Environment, August 2005

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