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Issue paper

Decision-making and economics of adaptation to climate change in the fisheries and aquaculture sector

With increased international climate finance for adaptation, and the emergence of national adaptation plans and adaptation projects, there is a greater focus on the economic appraisal of adaptation. Economic appraisal is standard practice in public sector investment decisions in many countries, as well as in international development finance and overseas development assistance. It provides support to decision makers to help ensure the appropriate use of public finance, and to assess alternative options available for meeting objectives, by assessing costs, benefits and performance against other decision criteria. This publication reviews available information on the costs and benefits of climate change adaptation in the fisheries and aquaculture sector, highlights the challenges in applying conventional appraisal and decision support tools to adaptation and reviews emerging frameworks (including low-regret actions, addressing potential lock-in, and early planning for long-term adaptation) and economic tools to appraise adaptation options in fisheries and aquaculture.

Policy Theme