Samenvatting

Adaptation to climate change is a challenge for both the public and the private sector. The legitimacy of initiatives from the side of the public sector is analyzed by means of the concept of market failure. This implies an economics oriented definition of legitimacy. This analytical framework is applied to climate related themes such as floods, low water, draught, storms and heat stress. Special attention is paid to the possibility to stimulate the involvement of the private sector by means of financial incentives.