ABSTRACT
Peck and Teisberg (1993) calculate a present value of US$50 billion (A45 billion) for resolving specific uncertainties about climate change now rather than in 40 years time. The US leads the world in research on climate and other global environmental changes, spending approximately US$1.7 billion (A1.53 billion) annually on its focused climate change research programmes (IGFA 2002). This contribution is roughly half of the world’s climate change research expenditures, three times more than the next largest contributor, and larger than the combined contributions of Japan and all 15 nations (in 2003) of the EU. In total, the European budget is around US$1.1 billion (A1 billion). The high economic demands and scientific complexity of climate change research push the field towards being more applicable to European level implementation (without compromising national leadership and autonomy) and the sharing of facilities and expertise in order to make the most of European investment.
