Analysis of economic impacts projected by FUND's impact functions for water sectors using multiple climate scenarios and socio-economic scenarios

Abstract

 This study employs the updated climate scenarios and socio-economic scenarios in order to evaluate uncertainties and characteristics of projected economic impacts using impact functions of FUND model, which is as integrated assessment model having detailed sector-specific impact functions. We, in particular, focused on impact functions for water sectors: water resources, tropical storm, and sea level rise. The result susggested damages in three sectors would keep increasing under Representative Concentratin Pathwas 8.5 scenario, regardless of socio-economic scenarios. In addition, comparions of damages among three socio-economics scenarios (i.e. Shared Socio-econoic Pathways (SSPs) 1-3) revealed damages in water sector and tropical storm follow SSP3 > SSP1 ≈ SSP2, while damages in sea level rise follows SSP3 > SSP1 > SSP2.