California Climate Risk and Adaptation Index

Eagle Rock Analytics is developing a novel index to quantify the benefits for the California Air Resources Board. This index will help to quantify the benefits and return on current and future investment of California Climate Investment (CCI) projects. By creating this index, the state may more accurately understand the value-add from various programs, while the transparency in methodology invites constructive opportunities for improvement to the approach.

CCI programs are designed to reduce greenhouse gas emissions while providing socioeconomic, health, and ecosystem benefits within disadvantaged and low-income communities across California. The California Climate Risk and Adaptation Index incorporates a wide range of multi-dimensional and diverse facets of climate risk, and will provide a critical quantification of where existing CCI projects and programs contributed to climate adaptation benefits. It can also provide agencies with detailed information to prioritize climate adaptation as a critical objective when designing future programs, planning projects, selecting grant awards, and more.

This work is supported by California Air Resources Board grant 22STC003.

Figure 1: Conceptual framework of the Climate Risk domain, highlighting the Wildfire risk within Cal-CRAI. Each climate risk within the Climate Risk domain is characterized by two indicators: Exposure and Loss. Each indicator may comprise multiple metrics where appropriate to fully capture the indicator.