European Parliament calls for a study of the economics of climate change adaptation

European Parliament Press Service: Parliament adopted a resolution calling on the Commission to carry out "a study on the economics of adaptation", including a balance sheet of costs and benefits. It also asks the Commission "to consider including financial measures for adaptation in the next long term financial perspectives for regional policies and structural funds." The resolution was adopted with 516 votes in favour and 47 against.

The European Parliament regrets that the Commission's Green Paper "does not sufficiently address the need for co-operation on adaptation between the EU and developing countries; highlights in particular the need for technology transfer and capacity building." The EU, MEPs argue, "has to undertake substantial efforts to increase technological development in adaptation" and to ensure the transfer of such technologies to the developing world. The Conference of the Parties in Poznan (COP 14) in December 2008, MEPs demand, should focus on this issue.

The resolution recognises "a conditional link" between development goals and mitigation and adaptation. "Climate change", it says, "must be mainstreamed into all EU development co-operation".The House says "gradual adaptation of the farming sector to the new needs raised by climate change" should also be examined. MEPs say that the farming sector can adapt to climate change through legislation that "reinforces sustainability and promotes new ways to use and manage water."

The resolution stresses the importance of an increased need for rational use of water by means of a ‘water demand management'. It calls on the Commission and Member States to promote "pilot projects which will help to reduce drought damage and flooding risks."

The resolution Calls for significant and predictable financial instruments to be developed in the framework of EU policies, such as the Emission Trading Scheme (ETS), in order to assist developing countries to adapt to the impacts of climate change as well as to provide funds for adaptation policies within Member States.

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