Adapting economic development to climate change
Project description
Title: Policy Advice for Climate-Resilient Economic Development (CRED)
Commissioned by: German Federal Ministry for the Environment, Nature Conservation and Nuclear Safety (BMU)
Country: Global, Kazakhstan, Viet Nam, Georgia
Lead executing agency: Kazakhstan: Ministry of National Economy (MNE); Viet Nam: Ministry of Planning and Investment (MPI); Georgia: Ministry of Economy and Sustainable Development (MoESD)
Overall term: 2019 to 2023
Context
Climate change has a huge impact on the economic growth and development of countries. There is therefore a need for methods for assessing the economic impact of climate risks and developing potential adaptation scenarios.
Up to now, there has been a lack of experience both worldwide and in the programme’s pilot countries (Kazakhstan, Viet Nam and Georgia) with regard to integrating climate risks into macroeconomic forecasts. Climate data and results from sector models need to be fed into macroeconomic models to map the impacts of climate change on social and economic aspects such as income and employment and to identify appropriate adaptation measures.