Valuation of Adaptation Technology to Climate Change Based on Target Classification

Increase of unpredictable and severe climate events has led to development of technologies for climate change adaptation. Types of adaptation technologies for climate change vary in terms of technological characteristics and the range of their adaptation impact as well. For accurate economic assessment, this paper presents a method to value adaptation technologies based on classification of the target. In this study, the target is classified into two groups: 1) a single structure and 2) a range of area. For a single structure, adaptation technology is focused on the specific infrastructure subject to the climate change. For a range of area, the local region is the focus to consider climate events such as flood, landslide, and sea level rise. These two classes of damages are estimated in two valuation modules: one for extreme climate change and the other for gradual climate change. Climate change scenarios with and without the adaptation technology are used to determine the total value of the adaptation technology.