Estimating regions’ relative vulnerability to climate damages in the CRED model

VI-CRED is an index of vulnerability to climate change, with the advantage of simplicity and transparency as compared to more complicated indices with dozens of components. It apportions economic damages from climate change among world regions on the basis of differences in vulnerable sectors’ contribution to gross domestic product, share of population living at less than 5 meters above sea level, and access to freshwater resources.

VI-CRED results are broadly similar to those of other indices, but it assigns a more prominent role to water scarcity and, for this reason, includes the Middle East among the most vulnerable regions.The CRED vulnerability index apportions economic damages from climate change among world regions on the basis of differences in access to freshwater resources, coastal share of population, and vulnerable sectors’ contribution to gross domestic product. Results are presented in the context of the current literature on climate vulnerability indices.

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Note: This is an updated version of a paper first published in February 2011. The new version was posted in January 2012.