Economics

Strengthening the capacities of national government, private institution, international agencies, etc. worldwide in the fight against multiple hazards as a consequence of climate change requires support, funding and investments. Policy, decision making, preparedness and planning regarding environmental, physical, economic and social characteristics at global, national, regional and local resolutions will have to be implemented. However, the long-term costs and benefits of environmental policy and regulations in the global fight against climate change and the reduction of environmental harm involves estimating costs and benefits projections of future unknown economic activity, effects, technological innovations, etc. The vast array of issues, interactions, etc. are not entirely known and as such, very difficult to quantified or monetized. These difficulties are magnified by the long-term and global scale of the problem, which makes it difficult to provide a solid objective basis for long-term policy and decision making.