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This report documents the Cost-Benefit Analysis (CBA) work plans developed as part of the Pacific Adaptation to Climate Change (PACC) project. The objective of these work plans is to guide PIC Government officials to conduct a CBA of their PACC pilot project. PIC Government officials will be supported by regional economists to implement their CBA work plans. PACC CBA work plans were developed at three sub-regional workshops delivered between November 2011 and February 2012. More information on the PACC CBA Work Program can be found at www.sprep.org/Regional-Workshops/cost-benefit-analysis.

For Pacific SIDS, the need for adaptation to climate change has become increasingly urgent. Long-term climate change, including the increasing frequency and severity of extreme events such as high rainfall, droughts, tropical cyclones, and storm surges are affecting the lives and livelihoods of people in PICs. Coupled with non-climate drivers, such as overexploitation of resources, increasing urbanization and population increase, development in the region is increasingly undermined. For the low lying atolls, the likely economic disruption from climate change pressures could be catastrophic, even to the extent of requiring population relocation to other islands or adding numbers to the Pacific diaspora, with the subsequent social and cultural disruption having unknown proportions. Failure to reduce vulnerability could also result in loss of opportunities to manage risks in the future when the impacts may be greater and time to consider options limited.