Costs are defined in a variety of ways and under a variety of assumptions that affect their value ► Cost types include: ► administrative costs of planning, management, monitoring, audits, accounting, reporting, clerical activities, etc. associated with a project or program; ► damage costs to
ecosystems, economies and people due to negative effects from climate change; ► implementation costs of changing existing rules and regulation, capacity
building efforts, information,
training and education, etc. to put a policy into place; ► private costs are carried by individuals, companies or other private entities that undertake the action, where ► social costs include additionally the external costs on the environment and on society as a whole.