This final report presents the detailed outcomes of the ERA project for Thailand.

The overall aim of the ERA project was to provide the government partners in Thailand with an enhanced risk assessment for the development of their adaptation and risk financing strategies. The Economics of Climate Adaptation (ECA) framework was applied, supported by probabilistic risk modelling implemented using the open-source risk assessment tool ‘CLIMADA’, which was enhanced to capture non-economic as well as macroeconomic impacts. In addition, the cost-benefit ratios for possible adaptation measures were examined to advise the governments on most suitable adaptation strategies. Besides risk reduction through adaptation, the project highlighted the importance of incorporating financial risk retention and transfer instruments in order to address residual risks. Moreover, trainings were conducted with partners on topics such as integrated climate risk management, data management, and how to utilize the newly created graphical user interface (GUI) for CLIMADA.

The ERA project was implemented by GIZ’s Risk Finance & Insurance Team and GIZ Thailand together with the Munich Climate Insurance Initiative (MCII) hosted by the United Nations University – Institute for Environment and Human Security (UNU-EHS).

The Thai translation of the final report can be downloaded here.