Editing IPCC:AR6/SRCCL/Chapter-7 (section)

==== 7.5.2.3 Cost and timing of action ====

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The Cross-Chapter Box 10 on Economic dimensions of climate change and land deals with the costs and timing of action. In terms of policies, not only is timing important, but the type of intervention itself can influence returns ( ''high evidence, high agreement'' ). Policy packages that make people more resilient – expanding financial inclusion, disaster risk and health insurance, social protection and adaptive safety nets, contingent finance and reserve funds, and universal access to early warning systems (Sections 7.4.1 and 7.6.3) – could save 100 billion USD a year, if implemented globally (Hallegatte et al. 2017 <sup>[[#fn:r1095|1095]]</sup> ). In Ethiopia, Kenya and Somalia, every 1 USD spent on safety-net/resilience programming results in net benefits of between 2.3 and 3.3 USD (Venton 2018 <sup>[[#fn:r1096|1096]]</sup> ). Investing in resilience-building activities, which increase household income by 365 to 450 USD per year in these countries, is more cost effective than providing ongoing humanitarian assistance.

There is a need to further examine returns on investment for land- based adaptation measures, both in the short and long term. Other outstanding questions include identifying specific triggers for early response. Food insecurity, for example, can occur due to a mixture of market and environmental factors (changes in food prices, animal or crop prices, rainfall patterns) (Venton 2018 <sup>[[#fn:r1097|1097]]</sup> ). The efficacy of different triggers, intervention times and modes of funding are currently being evaluated (see, for example, forecast-based finance study; Alverson and Zommers 2018 <sup>[[#fn:r1098|1098]]</sup> ). To reduce losses and maximise returns on investment, this information can be used to develop: 1) coordinated, agreed plans for action; 2) a clear, evidence-based decision-making process, and; 3) financing models to ensure that the plans for early action can be implemented (Clarke and Dercon 2016a <sup>[[#fn:r1099|1099]]</sup> ).

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