Unrealistic optimism slowing down investment in preventive measures

Many farmers and homeowners are hesitating to take steps to adjust to climate changes such as droughts or heavy rainfall. adelphi’s adaptation expert Christian Kind highlighted the most significant psychological barriers at the second international “Adaptation Futures” conference in Arizona.

The paradox: although the benefits of many measures significantly outweigh the costs in the long term, residents of less developed regions particularly hard hit by climate change are barely taking any precautions. Surveys show that even after three destructive tornadoes, 83 percent of homeowners in the Southeastern US have failed to make their houses storm-proof.

Project manager Christian Kind presented adelphi’s research in this field to practitioners and academics from over 60 countries at the “Adaptation Futures” conference. Empirical findings from psychology and behavioural economics reveal that individuals are often unrealistically optimistic and assume that the impacts of climate change will not affect them personally. Even when people realise that climate change may pose a threat, studies and experiments show a frequent reluctance to take decisions on preventive measures. The state should not, therefore, rule out the option of providing incentives for private adaptation measures. adelphi will continue to conduct research into a viable framework for these incentives.

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