Climate Costs Guide – March 2026

Download the guidance here: LCRP_ClimateCostsGuide_2026

Climate change is here and impacts are already visible across London, from flooding, heatwaves, storms and other extreme weather events. Our changing climate is costing London’s organisations in multiple ways including damage to property, productivity losses, increased maintenance repair and response costs, impacts of reduced service, and increased liability and insurance premiums. The Climate Costs Guide helps you begin to understand how to track and measure the financial aspect of climate risk.

In July 2025 the LCRP  hosted the Climate Costs Forum at City Hall. This event brought together stakeholders from across the public, private and third sector to discuss how to optimise their collection of data to help link the impacts of weather to organisational performance. You can read more about the event here: Climate Costs Forum – July 2025 | London Climate Ready Partnership London Climate Ready Partnership

Since that event we have convened a working group of volunteers to help create a simple, consistent means of assessing the financial aspect of climate risk and adaptation, accessible to all non climate specialists, as well as communities and organisations of varying resources and capabilities.

The Climate Costs guide offers a practical six step process to:

1. Understand how weather and climate change affect your finances
2. Estimate how future climate scenarios will impact your future finances
3. Identify possible adaptation measures
4. Assess and select best value actions
5. Track the cost effectiveness of measures
6. Monitor, evaluate and learn in order to inform future decision making

Organisations across London need to be empowered to take climate adaptation action in an equitable way and with a collective outcome in mind. Monetising the impacts  of climate change creates visibility and allows funding to be distributed where it is most needed.

This Climate Costs Guide supports progression of recommendation 44 of the London Climate Resilience Review (“Commission work to strengthen the evidence base on the costs and benefits of adaptation and climate resilience”).

The guide is openly licensed under CC0 1.0 – (Please note this does not apply to any case studies within the guide which must not be reproduced outside of the confines of this publication).

We would like to thank the members of the Climate Costs working group who gave their time to support the development of this guide. The Climate Costs Guide has been produced by the London Climate Ready Partnership with support from Transport for London and Arup.