This paper discusses some of the elements that may characterise an efficien
t strategy to adapt to a changing climate. Such a strategy will have to ref
lect the long time horizon of, and the prevailing uncertainties about, clim
ate change. An intuitively appealing approach therefore seems to be to enha
nce the flexibility and resilience of systems to react to and cope with cli
mate shocks and extremes, as well as to improve information. In addition, i
n the case of quasi-irreversible investments with a long lifetime (e.g. inf
rastructure investments, development of coastal zones) precautionary adjust
ments may be called for to increase the robustness of structures, or to inc
rease the rate of depreciation to allow for earlier replacement. Many of th
ese measures may already have to be considered now, and could be worthwhile
in their own right, independent of climate change considerations. (C) 1999
Elsevier Science B.V. All rights reserved.