Horizon 2020 COACCH Project
Evaluate the costs of climate change that affect macroeconomies
Consecuencias económicas del cambio climático
Assess the costs of climate change thanks to EU funding The definition and evaluation of complex impact chains in different climate change scenarios, including the macroeconomic consequences, such as the impact on growth and well-being, as well as unrelated damage with the market, they are a prerequisite for policy formulation.
The COACCH project of Horizon 2020 (Co-design of the assessment of the costs of climate change) will address these problems, bringing together global specialists in engineering sciences, climatology and socio-economics.
More specifically, the COACCH project will focus on:
Provide the evidence base on complex chains of impact of climate change, assessing their macroeconomic, social and market consequences, in the EU up to a subnational resolution. It will integrate impact models, macroeconomic models and innovative non-modeling approaches, which will cover the market sectors (agriculture, forestry, industry, energy, etc.) and not market (ecosystems, health) and analyze the competitiveness and growth of EU economies. Delivering knowledge about the impacts and economic consequences of climate change points of greatest concern for Europe, and exploring the new concept of socio-economic turning points induced by climate, at European and national level.
Provide an accurate economic assessment of climate action, identifying the short and long term mitigation and adaptation policy under climate change, including extreme events and inflection points. It will compare the respective returns according to different decision-making criteria under uncertainty, reducing the uncertainty surrounding the valuation.
The start meeting of the COACCH project took place in January in Venice, Italy. The project, coordinated by the Fondazione Euro-Mediterranean Center sui Cambiamenti Climatici (Italy) brings together 14 EU research institutes and involves some 30 interested in business, academics and politicians, including industry, European banks, insurance companies and policy representatives. The total budget is around 4.9 M EUR, with a duration of 42 months.
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