Better economics: supporting adaptation with stakeholder analysis
Across the developing world, decision makers understand the need to adapt to climate change — particularly in agriculture, which supports a large proportion of low-income groups who are especially vulnerable to impacts such as increasing water scarcity or more erratic weather. But policymakers are often less clear about what adaptation action to take. Cost-benefit analyses can provide information on the financial feasibility and economic efficiency of a given policy. But such methods fail to capture the non-monetary benefits of adaptation, which can be even more important than the monetary ones. Ongoing work in Morocco shows how combining cost-benefit analysis with a more participatory stakeholder analysis can support effective decision making by identifying cross-sector benefits, highlighting areas of mutual interest among different stakeholders and more effectively assessing impacts on adaptive capacity.