It is not currently possible to provide estimates of the potential costs and savings over the next three years. It has, however, been shown in the Stern Review on the Economics of Climate Change that timely and well-targeted climate adaptation measures will yield benefits in excess of their costs. The main rationale for investment to address climate risk will be to reduce the UK's vulnerability to longer-term climate change impacts.
The Government are undertaking a climate change risk assessment and economic analysis, which will provide estimates of the costs and benefits of adaptation to the UK. This analysis will be presented to Parliament within three years of the Climate Change Act coming into force.